Mabani Aljazeera Holding Group, a leading Saudi construction and investment firm, has bought into one of East Africa’s largest mixed use developments.
Through its subsidiary Swan Properties, the company acquired a fifty percent minus one share stake in Jabali Towers at Tatu City Special Economic Zone. Rendeavour, the zone’s owner and developer, keeps majority control.
The deal marks a significant moment for foreign investment in Kenya. It signals confidence from a major Gulf investor and reinforces Tatu City’s position as a magnet for capital flowing into the country.
Government Welcomes the Investment
Cabinet Secretary for Investment, Trade, and Industry Hon. Lee Kinyanjui addressed the signing ceremony directly, framing the deal as proof of Kenya’s appeal. He said the investment tells buyers in Saudi Arabia and beyond that Kenya remains a destination of choice on the continent, and that local housing challenges can be solved through partnerships built on the right policies and an environment that welcomes capital.
Inside the Development
Jabali Towers rises in two structures, one reaching 25 storeys and the other 36, at the heart of Tatu City. Beyond residences, the project houses 35 restaurants and shops open to the public alongside amenities reserved for residents. The first tower has already crossed 80 percent in sales.
Construction momentum is building too. Tatu City recently named China Road and Bridge Corporation as main contractor for the 88,000 square metre project, giving the development a partner with deep experience in large scale infrastructure.
Pricing starts at KES 10.2 million, roughly USD 78,200, for studio, one, two, and three bedroom units. That opens the door for both homeowners and investors looking to own property inside Kenya’s leading mixed use economic zone.
What the Investors Are Saying
Abdullah AlMalki, Chairman of Mabani Group, called the partnership a natural fit. He pointed to the combination of construction expertise, materials, and capital that Mabani and Swan Properties bring, predicting the project will become one of the standout real estate developments on the continent.
Stephen Jennings, Founder and CEO of Rendeavour, tied the deal to the company’s track record. He noted that Tatu City draws more than half of all foreign direct investment entering Kenya each year, a pattern he credits to two decades of Rendeavour delivering on commitments across Africa. He added that several other Saudi investors are now exploring opportunities in Kenya, with Swan Properties leading the way.
The Saudi Export Import Bank also praised the joint venture, citing its role in helping Saudi businesses diversify and compete internationally.
Built on Existing Infrastructure
Jabali Towers doesn’t rise on undeveloped land. It sits on more than 15 years of infrastructure work already completed across Tatu City, including round the clock potable water, power uptime above 99 percent, high speed fibre connectivity, and over 70 kilometres of roads built to international standards. That groundwork gives the new towers the backbone of a functioning modern city rather than a project starting from scratch.
For Saudi investors watching Africa’s real estate market, Jabali Towers offers an early test case. If sales momentum holds and construction stays on schedule, it may open the door for the wider wave of Gulf capital that Rendeavour says is already circling.
