Residential Projects

Mae Ridge Runda Project Well Under Way

Development comprises 81 residential houses, of which 20 were completed in phase one.

Updated on

February 23, 2014

Pan Africa Insurance Holdings is developing a Sh2 billion housing project in Nairobi’s Runda estate as the insurer seeks to increase its revenue.

The Mae Ridge Runda, developed in two phases by the firm’s wholly owned subsidiary – Mae Properties Ltd., is situated just past the Lord Errol Bridge near the Village Market shopping mall. It comprises 81 residential houses, of which 20 were completed in phase one.

The development has four house designs offering 4 or 5 bedrooms, a study, a family/TV room, and a kitchen, with each unit comprising a double carport and two staff quarters.

According to the management of Pan Africa Insurance Holdings, the choice of Runda was informed by the fact that the area is a prime location with some of Kenya’s most expensive homes.

“Runda is a property hotspot. The area has strong rental yields and anticipated capital growth,” said a Pan Africa official.

Each home sits on a half-acre plot with a title deed, distinguishing it from many other gated communities.

Mae Ridge Runda is expected to widen the insurer’s involvement in the property market. The NSE-listed company has been running a successful property business for decades.