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The sustained decline is an indication of an emerging trend where prices have transitioned from a continuous positive trend seen since the last quarter of 2014/FILE

Kenya

Safaricom Investment Cooperative to launch project off Kiambu-Ruiru bypass

The project consists of 331-quarter acre serviced plots which will be retailing at Sh6.95 million per plot and with flexible payment plans and ready individual title deeds/FILE

NAIROBI, Kenya, Sep 3 –  Safaricom Investment Cooperative (SIC) is set to launch a new real estate project dubbed called Zaria Village which will be built off Kiambu-Ruiru bypass.

The project consists of 331-quarter acre serviced plots which will be retailing at Sh6.95 million per plot and with flexible payment plans and ready individual title deeds.

Safaricom Senior Manager Strategy Peter Gichangi says the project is targeting middle and upper middle-income earners where demand is high.

“What we want to do is help our customers live in a serene environment in which they can easily access their daily needs,” he said adding that the construction process will be starting immediately a client pays.

Construction of the project kicks off in the next six months.

Safaricom has been in the real estate business for 10 years now, having built houses in Rongai, Machakos. The company has put a total of Sh20 billion in its 129 projects.

“We have seen tremendous population growth in Syokimau, Athi River, Kitengela and even Embakasi. More industries and businesses continue to come up here in line with our growing economy, most notably, the Standard Gauge Railway station. As the population of these regions continues to grow, and as our children grow, there will be demand for sustainable living, recreational and working spaces,” said Special Chief Projects Safaricom Joe Ogutu.

Apart from real estate, the company says it shall be diversifying to other ventures including health, education and agriculture to increase its revenues by at least 30 per cent.

 

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