Residential Projects
Developer Invests Sh2bn into Syokimau Housing Estate
The Athi View Estate targets middle to high income earners in Nairobi.
SJR Properties, a Nairobi-based property developer, has invested Sh2 billion into the construction of a new housing estate in Syokimau on the outskirts of Nairobi.
Dubbed Athi View Estate, the project that targets middle to high-income earners comprises 350 units that will be completed in four phases, with the completion date set for 2014.
The first phase, which comprises 90 four-bedroom maisonettes and 15 apartments, is currently under construction and the developer has said the houses will be ready for occupation by November this year.
Valued at Sh600 million, phase one sits on a 7.5-acre plot and it includes an on-site shopping centre, a children’s playground, and a basketball court.
The entire project sits on a 30-acre piece of land and will include other facilities such as a school and a community centre, according to Gurmeet Mehta, a director of SJR Properties.
“Once we are through with phase one, we’ll embark on the second to the fourth phase where each will take about 18 months to construct,” Mehta said adding that the estate is 50 per cent sold with each unit selling for Sh9.3 million.
RELATED: Sh30bn Iluluwe Golf Estate Unveiled in Athi River
Speaking during the recent Sarit Centre Homes Expo, Mehta said the houses offer exceptional value for money as they provide four bedrooms with a built-up area of 1,700 square feet and a private back garden.
“Our no-compromise attitude on quality is what makes Athi View homes stand out. Our objective is to deliver quality homes to Kenyans,” he said.
Athi View Estate is not SJR Properties’ first venture into the local property market. The firm has been involved in several developments including the luxury Sandalwood Waterfront Homes in Karen, Tulivu Villas in Runda, and Gateway Park on Mombasa Road among others.
The company is currently partnering with other investors to develop several properties across the country including a 10-storey office complex in Westlands.
Mukuru Affordable Housing Handover Set for December
Bedsitters will rent for Sh3,200 per month on a 30-year rent-to-own plan.
Developer Unveils Sh30bn Gated Estate in Kiambu
The 240-acre Kofi Ridge estate in Ruiru, Kiambu, will be completed in 25 years.
Trump’s $3 Billion Condo Project Advances in Florida
Initial approval granted for Donald Trump’s luxury condo in Doral.
Benson Ndeta Withdraws Sh28bn Bamburi Takeover Bid
Amsons Group offered Sh23.6bn to acquire 100% of Bamburi shares.
KenGen Seeks Sh590bn to Add 1,500MW to National Grid
The company has secured financial backing for a 300MW geothermal project.
Turkish Firm Begins $3bn Uganda Railway Project
Yapı Merkezi is expected to complete the 272-kilometre railway in 48 months.