The Odinga family is following in the footsteps of the Kenyattas’ by developing a Ksh120 billion estate in Kisumu, dubbed LV Marina.
According to media reports, the project by GulfCap Real Estate will be developed on a 285-acre piece of land owned by the family of the late Vice President Jaramogi Oginga Odinga.
The land that once hosted the Odinga family-owned molasses plant will see the construction of 1,400 houses, business premises, hospitals, and schools.
The project is located on the shores of Lake Victoria, just five minutes from Kisumu International Airport.
GulfCap Real Estate Chairman Suleiman Shahbal said the development will include, among other things, bespoke waterfront villas, apartments, state-of-the-art social infrastructure, commercial hubs, hotels, and schools.
Speaking during the launch of the multi-billion project, former Prime Minister Raila Odinga revealed that the idea to develop the estate was inspired by the collapse of the molasses plant.
‘We decided that the housing project is the most ideal for this region. I negotiated with my brother Shahbal, and he agreed that we can go ahead with the project,’ Odinga told the Daily Nation.”
GulfCap CEO Chris Ochieng said the project will take six years to complete.
“As a company we have the resources to deliver this project however there are other aspects like the social amenities, schools and health facilities where we are looking to partner with players in the sectors to have them in place,” he told Kenya News Agency.