Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: Press Releases: Property Developers Launch First East African Marina Resort Project

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Kenya: Press Releases: Property Developers Launch First East African Marina Resort Project

Wednesday, 16 June 2010

Nairobi, 15 June 2010, Nairobi: The Kenyan Coast is set to become the home of a transformative contemporary hotel development upon the launch of EnglishPoint Marina; which is expected to change the Mombasa city tour experience.

The marina resort is anticipated to put Kenya on the map of the huge luxury boat markets in the Mediterranean region, Egypt, Dubai, South Africa and the Far East. Situated on a spectacular water front property across the creek from Fort Jesus and overlooking the Mombasa skyline, EnglishPoint Marina will be an iconic and landmark multi use development that will attract an investment of approximately USD50m.

The property will feature onsite facilities such as a hotel, conferencing facility, a roof-top restaurant, a casino, swimming pool, serviced apartments, sea front restaurant of international standard, spa and gym, boardwalk with retail outlets, underground car parking, water-sport centre and first of its kind serviced marina.

Alnoor Kanji, one of English Point Marina’s developers, said the investment has the ability to open up the high-end international investment market for Kenya as well as the high end tourist market. This will enhance Kenya’s image and profile. It is the vision of the Developers that EnglishPoint Marina will further attract international boat races, fishing competitions and small luxury charter services capable of private cruises to Lamu, Zanzibar and other coastal destinations.

The development of this hotel concept comes at a time when the local industry is highly optimistic of the growth momentum for the tourism sector. Recently, Kenya reported a 16% rise in international arrivals for the first quarter of 2010 due to the market diversification efforts which have lured new tourists from China, India and the Gulf region.

Announcing the launch of the development plan for the multi-million dollar project, Tourism Minister, Najib Balala, said the project ties in well with Kenya’s development blueprint, the Kenya Vision 2030. Repositioning of the Coast circuit, opening under utilized parks and providing niche products are the key drivers towards the government achieving this vision through the tourism sector. The Government aims to make Kenya one of the top 10 long haul tourist destinations, offering diverse and high-end experiences by 2012 to a target 5m tourists per year. With landmark investments such as this, our aim is not a long shot,” said Mr Balala.

The development has been designed by multi award winning architects Broadway Malyan in the UK. According to an annual ranking survey by Architects Journal (AJ) which ranks UK’s top 100 architecture practices, Broadway Malyan is ranked among the top 10.

Only recently, Mombasa played host to the 100-meter luxury boat owned by Microsoft co-founder Paul Allen. Unfortunately, the vessel had to be moored mid-stream with no service facilities. “English Point will have a fully serviced five-star marina capable of mooring 80 to 100 boats; it is the first of its kind in East Africa,” said Mr Kanji.

The Kenyan economy relies heavily on agriculture, tourism and remittances from abroad from its Kenya citizens in the diaspora for economic growth and much-needed foreign exchange. Kenya’s services sector, which contributes about 63% of GDP, is dominated by tourism.

The sheer magnitude of this 5 star investment will herald the creation of more jobs in the services sector. The developers project a work force of 400 during the two year construction phase and a workforce of 200 when the development completed in August 2012. The apartments will provide a wonderful opportunity for international and local investors to own a piece of this unique development and lifestyle.

English Point Marina comes on the verge of an anticipated expansion of Mombasa Port which will require high end real estate to accommodate the influx of professionals and managers. Lamu is equally being prepared for Lamu Port; one of Kenya’s biggest infrastructural investments since independence. These developments are expected to make Mombasa one of Kenya’s corporate hubs.

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