Saturday, June 22, 2024

David Langat: Multi-million properties owned by Eldoret tycoon

David Langat, a billionaire entrepreneur, has quietly amassed a vast business empire in Kenya.

Despite his significant wealth, Langat prefers to stay out of the limelight, focusing on his contributions to the country rather than personal accolades.

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This article will look into some of Langat’s notable properties and ventures, highlighting his diverse business interests.

Meet shy Kenyan billionaire building Sh. 200 billion industrial park

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Koisagat Tea Estate

One of David Langat’s prominent assets is the DL Koisagat Tea Estate, located in Nandi County.

This estate not only grows and processes its own tea but also gained recognition in 2013 for being among the first Kenyan companies to produce purple tea.

Langat’s stronghold in the tea sector extends beyond Kenya, as his company expanded operations into Tanzania, where it is one of the leading tea producers.

In 2018, Langat further solidified his position in the industry by acquiring three tea companies from the British firm Rift Valley Corporation.

Nyali Super Centre

Nyali Super Centre, also known as Nyali Mall, stands as one of Mombasa’s largest shopping complexes and is owned by David Langat.

Spanning 330,000 square feet, this mixed-use development offers a wide range of amenities, including office spaces, stores, supermarkets, restaurants, and showrooms.

Additionally, Langat owns other high-end beachfront properties, including Sunrise Resort, further solidifying his presence in the coastal region’s hospitality industry.

AEZ Pearl River

In collaboration with the Guangdong New South Group, David Langat embarked on an ambitious project known as the Africa Economic Zones (AEZ) Pearl River Industrial Park in Uasin Gishu County.

Inspired by the industrious efforts of young people in Eldoret, Langat decided to establish an industrial park that would empower the youth and spur economic growth in the region.

The project, estimated at Sh 200 billion, is being developed in three phases: a special economic zone, a science and technology hub, and a recreational zone.

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With completion expected within the next  few years, Langat’s vision for the industrial park reflected his commitment to creating sustainable job opportunities and fostering innovation.

“I have travelled quite a lot in terms of doing business in different countries, and have been inspired by the development in other countries. I felt that as a country, we lag behind in industrialisation, and that was when the idea was conceived,” he says.

“The best thing I did was to buy land and my main idea then was to do the normal industrial work. My focus was agro-processing,” he reckoned.

Selenkei Investments

Another notable venture of David Langat is Selenkei Investment Ltd, a special purpose vehicle dedicated to developing, constructing, and operating a PV solar power plant.

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