, NAIROBI, Kenya, Sept 27 – Superior Homes Kenya has announced a Sh30 billion investment to put up a new 3,000-unit housing project in Athi River.
The gated community development targeting the middle class will be on 337 acres of land that the company is set to acquire from East African Portland Cement Company.
This follows a ruling by the Court of Appeal in favour of Superior Homes that ordered EAPCC to sell the land to the developer in line with a sale agreement that had been signed in 2005.
“We have almost exhausted development on the 163 acres at Greenpark Estate and the new land will allow us to expand our vision of providing a truly world-class master-planned and sustainable development,” SHK Managing Director Ian Henderson said.
Superior Homes purchased the land on which it has been developing Greenpark Estate from East Africa Portland Cement in 2005 with an option to buy the adjacent plot.
However, disputes emerged after the cement processor failed to complete the sale, prompting Superior Homes to seek legal redress.