A Qatari based Afro Asia Investment Corporation is set to make the biggest direct foreign investment venture in Kenya to date by building a modern state of the Art Trade Expo Centre worth Kshs 26 Billion at Jomo Kenyatta International Airport(JKIA). The International Convention Centre will feature a five star hotel, hospital,a trade expo/exhibition centre, shops amongst other amenities will be a grand mall unrivaled within the region and will attract foreign exchange, employment opportunities an other untold benefits.
The Government will grant the investor a 80 year concession thereafter the centre will be handed back to the Government.The complex will be built on a 90-acre piece of land that has been Leased to the investor for the 80 year period.The deal to construct the centre was executed yesterday by Kenya Airport Authority Managing Director Mr George Muhoho and the Doha based developer Mr.Mohamed Kilani yesterday.With the current Governments heavy investment in the Infrastructure(roads, fibre optics etc), Kenya's economy is bound to grow steadily despite the low economic growth expected for the last financial year.The new project is expected to be complete in the next two years(maybe 5 the way things work here).Eventually Kenya will reclaim its status as one of Africa's strategic investment hub!This is certainly good news to many Kenyans especially the business community.The only impdiment to this is the rampant corruption by the political elite- a culture that must be effaced for any meaningful growth in this Country.
Good news!
ReplyDeletewow!! sounds like a great building that's coming up there!
ReplyDeleteNairobian,
ReplyDeleteI am not against foreign investment at all, its very beneficial to us.But I wonder, you mean to tell me Kenyans could not do this? These Qatari people will 'own' our airport, they'll own some of the most fertile land in Kenya since they have leased the fertile land in the Tana River Delta, they take away our sportsmen since they are all flocking there in doves and changing their names to I dont know what.
Why dont we just sell the country to the Qataris once and for all?
hmm something to look forward too. could turn out to be precious like the sapphires that NaturalSapphire sell. come take a look.
ReplyDeleteMama Shuja has a point there, though i think our biggest problem is corruption, if the Government undertook that project the bill would reach atleast 100 billion and the project would not be complete in say 10 years....oh and by the way even in this deal theres a high possibility someone is pocketing something out of it!
ReplyDelete