The Two Rivers project has earned a sentimental Vision 2030 project tag as a recognition by the government for private sector contribution to growth.
The deal will see closer collaboration between Two Rivers and the secretariat. According to the MoU, the secretariat will advise the development on compliance and support requests for interventions as covered by the Public Private Partnership framework and the secretariat’s mandate.
The recognition by the Vision 2030 secretariat confers status and prestige to such projects. "While such recognition is largely sentimental, investors who earn it feel their efforts are validated in line with the Government’s vision of developing key projects in the country as outlined by the Vision 2030 blue print," said Dr Julius Muia the secretary general of the National Economic and Social Council for Vision 2030 Secretariat.
Two Rivers will also collaborate with The Vision 2030 secretariat in capacity building, benchmarking, technology and knowledge transfer.
The project is a mixed use development located on 102 acres in Runda, Nairobi conceptualized by Centum Investments Company.
“It has had a positive impact on the local economy employing approximately 10,000 people. This is a testament to what private enterprise can do to achieve the Kenyan dream,” said Centum Group CEO James Mworia.
The first phase of the Two Rivers Project, set on 55 acres, is expected to be complete by 2020. Centum envisions it to include the largest retail, commercial and lifestyle centre in East and Central Africa, 3 and 5 star hotels, luxury apartments, office parks and world-class infrastructure.
Infrastructure will include a 46MVA modular substation, a 1.3 MVA solar park, state of the art water treatment and roads. The development has also invested Sh10billion ($10 million) in smart city ICT infrastructure.