Saudi Arabia's Mabani Aljazeera Holding Group, through its subsidiary Swan Properties, has acquired a 50% minus one share stake in the Jabali Towers mixed-use development at Tatu City Special Economic Zone (SEZ) in Kenya. The equity investment marks a significant vote of confidence by a major Saudi investor and highlights Tatu City SEZ's record attraction of foreign direct investment to Kenya.
Investment Details and Stakeholders
Mabani Aljazeera Holding Group is a leading private Saudi Arabian construction and investment company. The investment was finalized during a signing ceremony attended by John Mwendwa, OGW, CEO of InvestKenya; Abdullah AlMalki, Chairman of Mabani Aljazeera Holdings Group; Stephen Jennings, Founder and CEO of Rendeavour, the owner and developer of Tatu City; and Hon. Lee Kinyanjui, CS for Investments, Trade, and Industry.
Under the agreement, Swan Properties will receive a 50% minus one share for its investment in the Jabali Towers development company, with Rendeavour retaining the majority shareholder position. The joint venture was lauded by the Saudi Export Import Bank, which aims to promote the development and diversification of Saudi exports and increase their ability to compete in global markets.
Jabali Towers Development
Jabali Towers features 25- and 36-storey towers that include exclusive amenities for residents and 35 restaurants and shops open to the public. The first tower is more than 80% sold. Earlier this week, Tatu City appointed China Road and Bridge Corporation as the main contractor for the 88,000 square meter development.
Jabali Towers offers studio, one-, two- and three-bedroom apartments starting from KES 10.2 million (USD 78,200), providing homeowners and investors with an opportunity to own a residence in Kenya's leading mixed-use SEZ.
Quotes from Key Figures
“Mabani Aljazeera Holding Group and Swan Properties are delighted to invest in the landmark Jabali Towers development at Tatu City,” said Abdullah AlMalki, Chairman of Mabani Group. “A combination of our skills, construction materials and capital will make Jabali Towers the preeminent real estate development in Africa.”
Stephen Jennings, Founder and CEO of Rendeavour, said: “Mabani Aljazeera Holding Group and Swan Properties’ investment in Tatu City and Kenya is underpinned by Rendeavour’s 20-year track record of delivering on its promises in Africa. Every year, Tatu City attracts more than half of all foreign direct investment in Kenya. We are engaging with numerous Saudi investors ready to invest in Kenya and are delighted that Swan Properties is the pioneer.”
Infrastructure and Amenities
Jabali Towers is supported by more than 15 years of infrastructure investment in Tatu City, including 24-hour potable water, 99.7% power uptime, high-speed fibre internet connectivity and more than 70 kilometres of international-standard roads, providing the infrastructure expected of a modern global city.
The long-term appeal of Jabali Towers is reinforced by Tatu City’s unique live-work-play ecosystem. Wellington College International Kenya, scheduled to open in 2028, will further enhance the city’s appeal among Kenyan families, expatriates and professionals seeking world-class education within a secure, master-planned environment.
Residents also enjoy more than 100 kilometres of walking and cycling trails, parks, lakes and expansive green spaces, while the Tatu Wildlife Sanctuary, the world’s only urban wildlife sanctuary, opens at the end of 2026, delivering Tatu City’s vision of integrating nature with modern urban living.
