Project News
Sh40bn Sergoit Golf Resort Unveiled Near Eldoret Town
The resort will be built in four phases, each taking a year to complete.
A sh40 billion real estate development plan that offers residents the chance to own homes in a secure gated community has been unveiled in Eldoret.
Dubbed Sergoit Golf and Wildlife Resort, the project set on a 3,100-acre parcel of land, about 15 km northeast of Eldoret town, involves the construction of 2,000 villas, a shopping mall, three golf courses, a private hospital, a five-star hotel, and an airstrip.
According to Joshua Chepkwony, the chairman of Sergoit Holdings Limited – the firm behind the project, the resort will be built in four phases, each phase taking a year to complete. The company has set 2016 as the project’s date of completion.
“Each of the four phases will cost about Sh10 billion and we expect to finish the first phase in a year,” said Mr Chepkwony, who is also the chairman of Jamii Telecoms.
Mr Chepkwony said his firm was in talks with the Cooperative Bank and Kenya Commercial Bank to fund individuals seeking to invest in the property. He added that the development will be co-owned by directors of Sergoit Holdings and private investors in a ratio of 52:48.
The resort, said Mr Chepkwony, is a hybrid of several ideas borrowed from Tatu City, Thika Greens, and Migaa Golf Couse in Kiambu.
The first phase of the project will involve putting up 626 villas on a 400-acre piece of land close to Sergoit Hill.
RELATED: Sergoit Golf Resort: Eldoret’s Sh40bn Dream Estate
The second phase will involve the construction of an airstrip alongside an 18-hole golf course, and a golf estate with luxury villas on varying plot sizes that will be sold upon completion.
A five-star hotel with modern amenities and services will be built in the third phase of the project. The final phase, anticipated to be finished by 2016, will involve the construction of retirement homes.
Sergoit Golf Resort will be based around nature and green theme, with a special emphasis on environmental sustainability.
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