Sh5.2 million diaspora-driven project set to revitalise Malindi's tourism sector

Malindi's tourism sector is poised for a significant revival as both local and foreign investors are injecting substantial funds into the hospitality industry.

One of the notable projects is a Sh5.2 billion ($40 million) initiative by a group of Kenyan diaspora investors that aims to establish 400 units of ultra-modern homes titled Royal Tulia Gardens, offering a contemporary waterfront lifestyle coupled with strong capital growth potential.

Despite the nationwide protests against the Finance Bill by the GEN-Z, construction has commenced following the groundbreaking ceremony for the ultra-modern homes in the Mtangani area, approximately five kilometres from Malindi International Airport in Kilifi County.

The development is being undertaken by Taylor and Townsend Company, known for their expertise in high-end projects across Africa.

The first phase, costing Sh1.5 billion, will see the completion of 100 units within 18 months. These units will serve as both residences and tourism rental properties for their owners.

Upon completion, the project will feature high-end residential apartments designed with elegance and sustainability.

The investors, who are primarily Kenyans residing in the USA and Kenya, chose Malindi for its proximity to the airport, pristine beaches, and nearby national parks.

During the groundbreaking, investors urged the government to expedite the expansion of Malindi International Airport to accommodate larger aircraft, thereby boosting local and regional flights.

Chairman of Capital Compass Group, Ralph Kilondu, mentioned the importance of improving air travel connectivity. "We have been hearing that the government is going to expand Malindi Airport. This needs to happen urgently because the government is missing out on many business opportunities. We need international flights landing in Malindi," he stated.

Taylor and Townsend Company officials at the groundbreaking ceremony for the Royal Tulia Gardens in Malindi, Kilifi County, on Monday, July 1, 2024. (Photo: Farhiya Hussein)

Michael Taylor of Taylor and Townsend Company praised Malindi's unique outdoor appeal, which is a key attraction for tourists and investors alike. "Malindi is a special place. You come here to enjoy the outdoors and beautiful weather. That's why people like myself have come to invest in the UK," he said.

Representing the Zuri Ladies Investment Group from the diaspora, Liz Waweru announced their purchase of several units, reflecting confidence in the project's viability. "Today has brought confirmation that the decision we made was a good one. We have seen all the investors and the people who will be constructing the homes," she said.

Kilifi County's CEC for Trade and Tourism, Clara Chonga, expressed gratitude to the investors for selecting Malindi as their investment destination. "This project is a big learning point for our Saccos in Kilifi. We can move from where we are and emulate what they are doing. There is nothing to stop us," she said.

Jane Kamto, the county's CEC for Lands and Physical Planning, emphasised the project's potential to enhance urban development and stimulate economic growth.  She also commended Capital Compass Group for their investment in Kilifi.

"Your partnership is crucial as we strive to make Kilifi a prime destination for investment and tourism."

Rose Baraka, MCA for Sabaki Ward, commended the initiative for its potential to create job opportunities. Baraka called for the swift expansion of the Malindi airport runway.

"We urge the government to speed up the process, compensate those who need to be moved, and increase the number of tourists to create more job opportunities," she said.

The Royal Tulia Gardens project is set to transform Malindi's tourism landscape, offering modern amenities and significant economic benefits to the local community.

Stakeholders at the groundbreaking ceremony of the Royal Tulia Gardens in Malindi, Kilifi County on Monday, July 1, 2024. (Photo: Farhiya Hussein)