Real estate demand spurs huge projects

Longonot Gate model house. 

By ALLAN OLINGO
Posted  Thursday, July 11   2013 at  01:00

In Summary

• Kenya’s real estate appetite for luxurious developments is making developers generate innovative concepts set to change the face of most counties, writes ALLAN OLINGO.

Billions of shillings have been pumped into massive real estate projects across the country that will not only change the approach of real estate but also give a new face to various developments in the counties.

From Thika Greens, Migaa and Tatuu City in Kiambu County to Sergoit in Uasin Gishu, Ocean Seven and Vipingo in Kilifi and Longonot Gate in Nakuru County, major players are now offering luxury living as an incentive to property buyers.

According to Ocean Seven Director Mahmud Visram, it is the appetite for unique and luxurious developments that is driving players within the industry to be very innovative.

“In cities like Dubai, this concept is very popular and we have introduced it here after extensive market research.”

Visram who is behind the Ocean Seven development that will replace the Sun N Sand Hotel says that construction of the apartments had started and would be completed in 2018.

Visram says that the seven towers will include two commercial blocks and five residential ones.

“The ocean and the pristine, white sandy beach is a perfect backdrop to life at Ocean Seven. The swimming pools for families with separate areas for young children and an Olympic length 50 metre infinity pool have been worked into the expansive 17 acre garden to give plenty of swimming, gardens and deck space,” he says.

A recent tour of the site showed that the foundation, basement and ground floor of the 58-unit Tower One is complete with the entire project slated to take about seven years to complete

This Sh15 billion project at Kikambala in Kilifi County will have 325 rooms with the first tower of 58 units already under construction on the spot where part of the Sun N Sand hotel stood.

In Nakuru County, Longonot Gate has been making headlines for its appealing architectural designs and aesthetics. The upcoming residential, holiday retreat, leisure, conference and golf resort city at the foothills of Mount Longonot will occupy an acreage of 2400 acres.

International standards

“The development that will cost Sh3 billion is divided into three suburbs: the Crater Park, the Naivasha gardens where a half an acre of plot is going for Sh5 million and the Kingdom City where the Golf course is located,” says Billy Wamalwa, Longonot Gate’s development marketing coordinator.

These developments are also keen on international expertise. The Golf course at Longonot Gate for example is designed by world renowned Golf course designer David Jones, who also designed the Vipingo ridge golf course in Kilifi.

In the Ocean Seven development, the developer has roped in a number of world-acclaimed professional bodies among them Arup, a global firm of service engineers, designers and consultants who are behind masterpieces such as the Sydney Opera House and Beijing Olympic Stadium commonly referred to as the nest.

Wamalwa says that this exclusive leisure City will enjoy integrated country homes with modern amenities including holiday homes, 18 hole golf course, sporting facilities, ornamental lake, Hotels and theme parks, retirement Cottages and conference facilities.

“We are strategically located because Naivasha being a tourist attraction and thus the need to satisfy that niche in the market. We are close to Kedong Ranch, are accessible to excursions to the crater on Mt Longonot, the great views of Lake Naivasha and ease of access to Aberdares, Lake Naivasha, Lake Elementaita and Lake Nakuru makes the project stand out,” says Wamalwa.

In October last year, another multibillion luxury development, Sergoit Golf and Wildlife Resorts was launched in Uasin Gishu County. The Sh40 billion leisure and property development project in Eldoret that stand on a 3,100-acre land will have over 2,000 villas, three golf courses, a five-star hotel, a shopping mall, conference centre, a private hospital and a private airstrip.

Charles Kibiru of Thika Green, another multibillion shilling estate says that these additional features are what make the development stand out.
“The beauty of the area was also an ingredient to build a Golf course that could one day put Kenya in the world map in attracting top players across the world to come and play in Kenya,” says Kibiru.

For would be home owners the cost of owning a house in these developments is high but the benefits outride the cost. In Longonot Gate, the concept involves a customer buying half an acre plot and there-after, choosing from 14 different house designs ranging from bungalows to villa’s.

These houses vary from Sh10 million to Sh22 million excluding the cost of land. The same concept is applied in Thika Greens while at Ocean Seven; they are selling them in phases. Currently, it’s only the first tower that is up for sale with prices ranging from Sh28 million for a two-bedroom unit measuring 2,250 square feet to Sh120 million for a four-bedroom penthouse measuring 8,900 square feet.

Real estate consultant Peter Mwangi says that the exclusivity of these multibillion developments — the first of their kind in Eastwern and Central Africa — directly portray their target clientele.

“The developers are trying to cash in a niche market that has a high taste and would like to have everything literally under one roof,” he says.
Mwangi points out that such estates are a common in countries like Egypt and South Africa and Kenya is quickly catching up.

“The market is yearning for a different kind of real estate. One that will include leisure, comfort and luxury. That is why the developers are willing to sink in billions to provide such