GulfCap Real Estate has broken ground for Kenya's largest mixed use development property - LV Marina that will cost Sh120 billion in Kisumu
The project is a mixed-use middle-income development that will take at least six years to complete with the first phase costing Sh40 billion
The groundbreaking comes at a time that the popularity of mixed-use type of developments has seen investors move to the outskirts of major Kenyan cities and towns.
The developments, an ecosystem that allows a seamless interaction of retail facilities, and residential and commercial offices in a set-up of communal living, have seen developers put up properties that allow people to work, shop, live and carry out leisure activities within the same environment.
According to GulfCap Real Estate CEO Chris Ochieng, there has been an increase in demand for these developments, especially by the affluent Kenyans.
“LV Marina is a vision of prosperity, sustainability, and inclusivity. We aim to create a community where people can live, work, play, and thrive in harmony. We are seeking strategic partners who dream big as we all work together to realize mutual growth in harmony with the beautiful LV Marina landscape,” said Ochieng.
Kisumu Governor Anyang’ Nyong’o said that the development is expected to generate thousands of jobs during construction and operation, stimulate local businesses, and position Kisumu as a leading destination for tourism, trade, and investment.
The inclusion of light industrial parks, recreational spaces, and fishing clubs will also create unique opportunities for regional and international partnerships.
“The LV Marina project is a testament to what visionary leadership and strategic partnerships can achieve. This development will not only elevate Kisumu’s urban profile but also create jobs, boost local businesses, and position our county as a regional economic hub,” said Nyong’o
The launch was attended by government leaders, investors, and residents, marking a pivotal moment for Kisumu's urban and economic future.
Raila Odinga described the project as a significant step in advancing regional growth and improving living standards.
"LV Marina will bring world-class infrastructure to Kisumu and provide opportunities for all," he said.
Suleiman Shahbal, Founder and Chairman of GulfCap Real Estate, expressed optimism about the project's potential.
"This is a unique opportunity to elevate Kisumu and Western Kenya. LV Marina demonstrates what can be achieved through collaboration and vision," he stated.
