Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

US entrepreneur invests in 300 housing units in Kiambu County

The firm plans to build over 700 units this year targeting the middle income with their prices ranging between Sh5 million and Sh7 million.

NAIROBI, Kenya, Jan 30 – American Investor and the chair of the Entrepreneurs Society of America (Naples) Karl Gibbons is investing in Kenya’s real estate sector.

Gibbons through his firm Third Eye Management and Associates has partnered with Sprinter Real Estate investment limited to invest in 300 two and three bedroom units in Ndenderu dubbed Fanisi Tigoni View.

Gibbons will be in the country to launch the project at the weekend.

Sprinter Real Estate investments Chief Executive Richard Mbugua, The Fanisi Tigoni View is a mixed use development that sits on 8 acres prime land next to the western Bypass interchange.

“We are excited that Third Eye Management and Associates has chosen us as a vehicle to improve the housing sector in Kenya, the first project The Fanisi Tigoni View is a fantastic project, with the first phase being launched on Saturday with about 90 units on a one acre piece of land,” Mbugua told Capital FM Business.

The firm plans to build over 700 units this year targeting the middle income with their prices ranging between Sh5 million and Sh7 million.

According to a new report, Land investments in Kenya is giving more returns than commodity prices

Globally commodities are falling while and prices of land in Kenya continue to rise on average of 70 percent per year, compared to 50 to 20 percent in 10 year for other commodities according to the HassConsult Land Price Index Quarter Four 2018 report.

The report says going forward; Land will continue to outperform commodities as the government continues to invest in infrastructure throughout the country.

Gold prices went up by 155 percent in the last decade, live cattle by 127 percent while crude oil was the worst performing in the period increasing by 56.6 percent in value.

Advertisement. Scroll to continue reading.

Gibbons will also be speaking to entrepreneurs and top business managers on Monday at an exclusive dinner organized by Sprinter Real Estate investments.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...