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Somali businessman Abdiweli Hassan, the founder of Business Bay Square (BBS) in Nairobi’s Eastleigh area, has secured approval to invest Ksh65 billion ($503 million) in a 60-acre mixed-use project within Tatu City, one of Kenya’s flagship Special Economic Zones.
The development represents a new chapter for Hassan, whose business interests have so far revolved around commercial and retail properties.
A new kind of city within a city
The project will bring together residential apartments, shopping centers, offices, warehouses, schools, parks, and a mosque, all linked by Tatu City’s established road and utility network. Close to half of the land will remain as open green space, part of an effort to balance real estate growth with livability.
Construction is expected to start within the next year and roll out in phases over roughly a decade, signaling a long-term commitment to both sustainability and scale.
For Hassan, the model isn’t entirely new. His earlier project, Business Bay Square Mall, turned Eastleigh’s informal trading area into a structured commercial zone with more than 1,000 retail and entertainment outlets spread across 130,000 square meters. That venture reshaped Eastleigh’s image and gave local traders a more organized platform for business.
Investor confidence and potential hurdles
Tatu City, developed by Rendeavour, has become a magnet for both local and foreign investors, helped by tax breaks lasting up to 20 years. More than 75 companies—including Naivas Supermarket, Heineken, and NCBA Bank—have already set up operations there.
Cumulative investments at Tatu now top Ksh450 billion ($3.49 billion). Rendeavour’s chief executive, Stephen Jennings, described Hassan’s entry as “further evidence that Tatu City has matured into Kenya’s most progressive investment destination.”
Still, questions remain around how the $503 million project will be financed. Whether through private equity, loans, or off-plan sales, funding clarity will determine how quickly work proceeds. The project will also need to navigate permit approvals and environmental assessments, all under public and political scrutiny.
Beyond Eastleigh
Hassan’s expansion into Tatu City underscores his growing role in East Africa’s property sector. It also signals confidence in Kenya’s urban growth and in the SEZ framework that has drawn regional and global players.
Over the past decade, Tatu City has shifted the edge of Nairobi from farmland into an organized investment zone with modern infrastructure and easier regulatory processes. Its appeal has extended beyond manufacturing to logistics and service industries.
For Hassan, the planned development is more than another property deal—it’s a statement about long-term faith in Kenya’s economic direction. The project is expected to generate new jobs and create a model for integrated urban living at a time when Nairobi’s middle class is rapidly expanding and demand for planned communities keeps rising.
