Tatu City, a planned $5 billion residential complex outside Kenya's capital Nairobi, received environmental approval for the first phase, including construction of 3,000 housing units and retail operations, Tatu City chief executive Arnold Meyer said late last week, Bloomberg reported.
Renaissance Partners, the investment unit of Renaissance Capital Financial Holdings, is building the project with local investors.
According to the project's website, the development will be home to an estimated 62,000 residents and create more than 330,000 permanent jobs and 220,000 temporary jobs.
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