Real estate developments take root in Nyeri

November 23, 2014
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The region has more than eight multibillion projects underway./CFM BUSINESS
The region has more than eight multibillion projects underway./CFM BUSINESS
NYERI, Kenya, Nov 23 – Nyeri is emerging as an attractive real estate investment destination with major projects such as hotels, adventure parks, golf courses and residential estates now at various stages of development according to the Governor, Nderitu Gachagua.

The region has more than eight multi-billion shilling projects underway.

In a speech delivered on his behalf by the County Minister for Lands, Housing, Roads and Public Works, John Maina at the Sh5 billion Mt Kenya Holiday Homes open day, Gachagua confirmed that the County Government has lined up a basket of incentives for real estate developers to spur further development.

While describing the Mt Kenya Holiday Homes project as a landmark development, the property located in Naro Moru, near Nanyuki town, he noted will soon be playing a key role in delivering the county government’s tourism vision along the popular Mt Kenya/Laikipia tourism circuit.

“We have invested heavily in ensuring the comfort of our investors who are in turn expected to provide jobs and market for our produce,” Gachagua said. “Here at the landmark, Mt Kenya Holiday homes, besides creating jobs, our youth are now enjoying specialized skills transfer in golf course construction methods,” he added.

During the event that was also graced by Kieni MP Kanini Keega and Nairobi Regional Coordinator Njoroge Ndirangu, Mt Kenya Holiday Homes developers confirmed that the project is proceeding on schedule with plans to host its first tenants this Christmas.

The project which broke ground mid last year, is centred on a collection of 95 holiday homes each on half acre and a 9-hole golf course. In addition, it features a club house and other facilities for home owners & guests, including grounds for events; ranging from destination weddings to conferences, golf tournaments and more. The first phase of the development sold out. Phase two is over 25pc sold.

Speaking at the function, Reginald Okumu, the Project Manager, disclosed that at the current project execution pace, the new development around the Mt Kenya/Laikipia tourism circuit, will open doors for patronage by both domestic and international tourists in 2015.

The project, Okumu added, is being undertaken through a unique build and transfer model to lock out speculators while guaranteeing investors maximum returns accruing from joint property development economies of scale, in addition to rental income. Investors may buy homes for rental purposes or own exclusive use.

The lifestyle activities include golf, gym, spa, swimming, nature trail, excursions to Mt. Kenya, picnic and a bush spa in the wooded forest. It’s been built exclusively using community labour. The club house and recreation centre will complement the lifestyle activities to offer a wholesome experience. The location of the development affords great views of both Mt Kenya & the Aberdare Ranges, and convenient access to a variety of tourist sites and activities including climbing Mt Kenya.

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