Blab Business
Saudi Firm Mabani Aljazeera Invests in Kenyas Jabali Towers, Boosting East African FDI
On July 4 2026, Saudi Arabia’s Mabani Aljazeera Holding Group announced that its subsidiary Swan Properties would acquire a 50 % minus one‑share stake in Kenya’s Jabali Towers, a mixed‑use development anchored in the heart of Tatu City’s Special Economic Zone (SEZ). The move signals a strong vote of confidence from a major Saudi investor and underscores the SEZ’s record in attracting foreign direct investment (FDI) to Kenya.
The agreement was signed in the presence of key regional stakeholders: John Mwendwa, CEO of InvestKenya; Abdullah AlMalki, chairman of Mabani Aljazeera; Stephen Jennings, founder and CEO of Rendeavour, the developer of Tatu City; and Hon. Lee Kinyanjui, Cabinet Secretary for Investments, Trade and Industry. Swan Properties will hold a 50 % minus one‑share stake in the Jabali Towers development company, leaving Rendeavour as the majority shareholder.
Jabali Towers is a twin‑tower project that rises 25 and 36 storeys above the SEZ. The development offers studios, one‑, two‑ and three‑bedroom apartments with prices starting at KES 10.2 million (USD 78,200). The first tower is reported to be more than 80 % sold, and the complex includes 35 restaurants and shops that are open to the public. Residents also benefit from 24‑hour potable water, 99.7 % power uptime, high‑speed fibre‑optic internet, and more than 70 km of international‑standard roads.
Tatu City itself covers 5,000 acres (2,000 ha) and is located 20 km north of Nairobi’s central business district. It is a flagship project of Kenya’s Vision 2030 blueprint and has become the continent’s fastest‑growing urban destination. The SEZ hosts over 110 businesses, 6,000 students in more than 35 schools, and 3,500 mixed‑income homes that are either occupied or under development. The city’s population is growing at over 40 % annually and it welcomes more than 35,000 people every day.
The investment comes at a time when Tatu City is expanding its live‑work‑play ecosystem. Wellington College International Kenya, scheduled to open in 2028, will add a world‑class education facility to the area. The Tatu Wildlife Sanctuary, the world’s only urban wildlife reserve, is slated to open at the end of 2026, further enhancing the city’s appeal to families, expatriates and professionals.
Mabani Aljazeera’s entry into the project was praised by the Saudi Export Import Bank, which said the partnership would promote the diversification of Saudi exports and improve the country’s competitiveness in global markets. Stephen Jennings highlighted Rendeavour’s 20‑year track record of delivering on its promises in Africa and noted that Tatu City attracts more than half of all FDI in Kenya.
The equity stake gives Mabani a significant presence in one of East Africa’s most ambitious real‑estate developments. It also signals a growing trend of Saudi investment in African infrastructure and property projects. While the exact financial terms of the deal were not disclosed, the partnership is expected to accelerate the completion of Jabali Towers and support the SEZ’s broader economic objectives.
As the project moves forward, stakeholders will monitor the progress of the remaining towers, the opening of the wildlife sanctuary, and the performance of the mixed‑use complex. Investors will also watch for updates on the SEZ’s tax incentives, regulatory approvals, and any further foreign investment commitments that may follow this milestone.
The partnership between Mabani Aljazeera and Rendeavour is a concrete example of cross‑continental collaboration aimed at delivering modern urban infrastructure while fostering economic growth in Kenya and the wider East African region.
The agreement was signed in the presence of key regional stakeholders: John Mwendwa, CEO of InvestKenya; Abdullah AlMalki, chairman of Mabani Aljazeera; Stephen Jennings, founder and CEO of Rendeavour, the developer of Tatu City; and Hon. Lee Kinyanjui, Cabinet Secretary for Investments, Trade and Industry. Swan Properties will hold a 50 % minus one‑share stake in the Jabali Towers development company, leaving Rendeavour as the majority shareholder.
Jabali Towers is a twin‑tower project that rises 25 and 36 storeys above the SEZ. The development offers studios, one‑, two‑ and three‑bedroom apartments with prices starting at KES 10.2 million (USD 78,200). The first tower is reported to be more than 80 % sold, and the complex includes 35 restaurants and shops that are open to the public. Residents also benefit from 24‑hour potable water, 99.7 % power uptime, high‑speed fibre‑optic internet, and more than 70 km of international‑standard roads.
Tatu City itself covers 5,000 acres (2,000 ha) and is located 20 km north of Nairobi’s central business district. It is a flagship project of Kenya’s Vision 2030 blueprint and has become the continent’s fastest‑growing urban destination. The SEZ hosts over 110 businesses, 6,000 students in more than 35 schools, and 3,500 mixed‑income homes that are either occupied or under development. The city’s population is growing at over 40 % annually and it welcomes more than 35,000 people every day.
The investment comes at a time when Tatu City is expanding its live‑work‑play ecosystem. Wellington College International Kenya, scheduled to open in 2028, will add a world‑class education facility to the area. The Tatu Wildlife Sanctuary, the world’s only urban wildlife reserve, is slated to open at the end of 2026, further enhancing the city’s appeal to families, expatriates and professionals.
Mabani Aljazeera’s entry into the project was praised by the Saudi Export Import Bank, which said the partnership would promote the diversification of Saudi exports and improve the country’s competitiveness in global markets. Stephen Jennings highlighted Rendeavour’s 20‑year track record of delivering on its promises in Africa and noted that Tatu City attracts more than half of all FDI in Kenya.
The equity stake gives Mabani a significant presence in one of East Africa’s most ambitious real‑estate developments. It also signals a growing trend of Saudi investment in African infrastructure and property projects. While the exact financial terms of the deal were not disclosed, the partnership is expected to accelerate the completion of Jabali Towers and support the SEZ’s broader economic objectives.
As the project moves forward, stakeholders will monitor the progress of the remaining towers, the opening of the wildlife sanctuary, and the performance of the mixed‑use complex. Investors will also watch for updates on the SEZ’s tax incentives, regulatory approvals, and any further foreign investment commitments that may follow this milestone.
The partnership between Mabani Aljazeera and Rendeavour is a concrete example of cross‑continental collaboration aimed at delivering modern urban infrastructure while fostering economic growth in Kenya and the wider East African region.
