The president of a Kenyan real estate development and construction firm visited Atlanta, Dec. 5-9, in search of investment partners for the development of urban housing alternatives in the East African nation.
David Muthoga, chairman of Devcon Group, which is based in Nairobi, Kenya, met with real estate developers in Atlanta to assess their interest in working on projects in Africa.
He said he was optimistic for future ties with developers here, but declined to specify the companies with which he met.
Kenya’s year-old government administration has identified housing as a key area of its economic development focus, Mr. Muthoga told GlobalFax.
Over the past decade, very few new homes have been built in Kenya’s growing cities, including Mombasa and Nairobi, despite swelling populations moving from rural parts of the country to urban areas, he said.
To meet a part of the housing need, the government aims to build 150,000 homes, mostly apartments and single-family units, over the next few years and is eager to attract U.S. firms to be involved in the development, he added.
Incentives for U.S. firms that develop housing infrastructure in Kenya include land, tax breaks and related infrastructure development, such as road improvements for the area in which the company chooses to build, said Mr. Muthoga.
The East African–American Business Council, headquartered in Atlanta, organized Mr. Muthoga’s visit to the city.
Contact Mr. Muthoga by email at email@example.com