Riverine Estate, which sits on 30 acres of land, comprises 211 maisonettes and apartments.
High rents have scared away tenants who opt for older flats that are cheaper.
Free pay TV and Wifi are now being offered by landlords in attempts to attract new tenants.
The project will consist of 5,000 houses, office blocks, schools, eateries and a police station.
A bungalow sitting on an acre of land is costing up to Sh300 million.
The deal will involve construction of high-rise residential buildings in Eldoret.
The deal sets in motion the much awaited 'Steel City' project.
The facility comprises 600 villas, an 18 hole-golf course, a 5-star hotel, and an airstrip.
The 3,000-unit housing development targets both low and middle-income earners.
The 5-star facility was built at a cost of Sh5 billion.
Amsons Group offered Sh23.6bn to acquire 100% of Bamburi shares.
The company has secured financial backing for a 300MW geothermal project.
Yapı Merkezi is expected to complete the 272-kilometre railway in 48 months.