BY STANDARD CORRESPONDENT
Renaissance Partners, the lead shareholder in the Kenya’s Tatu City development, have partnered with CDP Investments, a land investor and tourism company, to develop Roma Park, a 104-hectare multi-million-dollar mixed-use residential and commercial development, in Lusaka, Zambia.
The Roma Park announcement comes just months after Renaissance Partners launched the master plan of Tatu City, the visionary residential and commercial project in Nairobi, which is developed on a similar concept as Roma Park.
Tatu City will have 11 different land uses with residential taking the lion’s share of the allocation. The balance will be allocated for a techno park, institutions, commercial retail shops and hospitality. On completion, Tatu City will be home to an estimated 62,000 residents and is expected to have 30,000-day visitors.
"Renaissance Partners is proud to bring to Kenya and Zambia its experience in providing visionary urban solutions to African cities. Roma Park will provide its commercial and residential inhabitants with an exciting lifestyle and business environment supported by world-class infrastructure," Renaissance Partners CEO, Chris Baxter said.
Two phases
Roma Park, which will be developed in two phases over a period of five to seven years, is situated within close proximity to urban growth points in the Lusaka suburbs. The complex will be situated less than 6km from the Lusaka Central Business District.
The development has the backing of the Zambia Development Agency (ZDA), as well as the Government of Zambia. It will be the first private commercial property zoned as an Industrial Park in Zambia, under the ZDA Act of 2006.
The act is an initiative aimed at promoting the manufacturing sector, in particular, in an effort to diversify the country’s economy.
