A plot of land at Tatu City real estate in Kiambu is now selling at Sh. 5.2 million. This is after the price of a quarter an acre at the area jumped by nearly a third to Sh. 10.5 million.
Over the past eighteen months, the price has moved from Sh. 8 million to Sh. 10.5 million while half an acre of land is currently going for Sh. 16 million, up from between Sh. 12.5 million and Sh. 14 million.
Out of the sold plots, 186 are a quarter acres and 140 are half acres. The Kijani Ridge residential zone which is part of Tatu City’s upcoming mixed-use development of a satellite city that will feature high-end homes, private schools, offices, shopping malls, hospitals, hotels, light industries and entertainment spots, is sub-divided into 439 plots and sits on 250 acres of land, out of which 326 plots have been bought. Out of the sold plots, 186 are a quarter acres and 140 are half acres.
In 2017, individual buyers took up 148 plots. According to the developers’ regulations, land buyers are required to set up their homes by 2021 and choose from a dozen pre-approved designs of villas and bungalows.
Tatu City, the single largest real estate project in Kenya, sits on 5,000 acres of land in Ruiru.