NAIROBI, Kenya, Sept 15 – Ongoing efforts to facilitate the recovery of Kenya’s tourism sector are expected to reap significant benefits in coming months, as Mt Kenya Holiday Homes, one of the country’s single largest golf resort facilities, takes shape.
The Sh5 billion private investment project which broke ground mid last year has now completed its first phase of development, with construction planning for the second phase now in high gear.
At the current project execution pace, the new development around the Mt Kenya tourism circuit is expected to provide much needed tourist, meeting, destination wedding and conferencing facilities by early 2016. Investors at the key tourism pipeline project are also expected to start reaping their returns as early as 2015 based on current projections.
Speaking during a progress inspection tour of the project situated at the foot of Mt Kenya, a few kilometres from Nanyuki town, Project Manager Reginald Okumu assured that the development is running well within schedule and will soon provide a unique hospitality platform for domestic and international tourists.
The project, Okumu disclosed, is being undertaken through a unique build and transfer model to guarantee project investors maximum returns accruing from joint property development economies of scale.
Accompanied by the project development team members, Mutahi Wariithi, Denis Savala and Paresh Jai, a renowned golf course designer, Okumu said that the project features a 9-hole golf course alongside a collection of 95 holiday homes, a club house and a recreational centre. Phase One sold out in record time.
“The project is on track to break ground for the second phase of construction by year-end,” Okumu explained. “We are particularly encouraged by the positive reception from a cross section of individual investors who have shared in our vision to revolutionalise tourism around Mt Kenya and have gone ahead to buy their units here,” he added.
The Mt Kenya Holiday Homes site location also has a rich variety of wildlife, including over 100 species of birds.
During the media tour of the project site, the Project Manager confirmed that the holiday homes are currently being offered for sale to local and international investors. All the homes, he explained are set on fully serviced ½ acre plots. Though set on a 123 acre area, the project, he added, has been physically planned to accommodate less than 100 housing units to help guarantee world class standards and high rental income for the home owners.
Coming hot on the heels of the Nanyuki Mall property development currently housing Nakumatt Nanyuki, CfC Stanbic Bank and Safaricom Limited in Nanyuki town, Mt Kenya Holidays Homes will be taking the enviable distinction as the lead multibillion shilling economic development project around the Mt Kenya region in the recent past.
“The vast Mt Kenya region has in recent years suffered economic stagnation due to lack of investments, but I am glad that a consortium of like-minded, vibrant and focused Kenyans is now all set to bring the Mt Kenya Holiday Homes dream to life,” Okumu explained.
With a three-year construction timeline, construction of the 2nd phase of holiday homes is set to begin. Investors at Mt Kenya Holiday Homes will also enjoy the benefits of a centrally managed tourist resort, to boost rental income.
The 123 acre complex borders the dormant Nairobi-Nanyuki Railway line and is secured with a solar-powered perimeter fence in addition to a manned police post at the entrance.
As part of the project’s tourism development strategy, visitors to Mt. Kenya Holiday Homes will be accommodated in the holiday homes of the owners looking to earn rental income on their property. Owners wishing to maintain their homes solely for own use will be free to do so.
The project sponsors are optimistic that the complex will provide services to corporate clients, and local and international tourists, who are expected to form the bulk of visitors to Mt Kenya Holiday Homes.