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Tuesday, November 24, 2020

All you need to know about Fanaka Real Estate

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Since 2016, Fanaka Real Estate Ltd has been buying and selling land in Kamulu, Joska, and Malaa among other areas along Kangundo Road.

The company owned by business mogul Moses Muriithi, who started it immediately after he left university, using savings he had made from online writing.

So far, the company has initiated and completed 20 projects including Sunset View Gardens in Joska, Kamulu Phase 1 & 2, Kamulu Gardens and Malaa Phase 3. It has also issued at least 1,432 title deeds since the start of its operation.

The legal costs and process for buying land in Kenya

Fanaka Real Estate sells land within a radius of 50 kilometers from Nairobi CBD. The areas have been a target for most people who want to settle near the city center, where they can reside as well as commute to work daily.

Currently, the company is undertaking four projects along the region including Springfield Commercial, Joska Greens and Dhahabu Gardens.

Springfield Commercial plots are located at the heart of Malaa town, 100 meters off Kangundo Road. The project is about 45 minutes’ drive from Nairobi town and is next to the City Shuttle bus terminus. 50*100 or 1/8of an acre costs between Ksh1.8 million and Ksh2 million.

Joska Greens is located in Joska, a satellite town along Kangundo Road, 2 kilometers off the main road, with an eighth an acre costing Ksh949, 000.

 Dhahabu Ridge is a fully serviced project in a gated community setup comprising ready to build plots located 2.5 kilometers off Kangundo Road in Malaa town. Eighth an acre costs Ksh799,000.

The company has recently also launched a new project in Joska owing to the positive reception of their previous project – Joska greens along the area. They call the Project Paradise ridge, comprising of 50*100 plots each selling at ksh 949, 000 still with the installments option of up to 12 months.

“We owe our success to our efficiency in having ready title deeds, having our projects in prime areas and flexible payment plans. Recently we doubled our staff, indicating a robust growth compared to our competitors who are retrenching every other day,” says Muriithi.

To add to the convenience, the company’s offices are located in Ruai town along Kangundo Road, where most of its projects are located.

The company provides a payment plan of six to 12 months for residential, speculative and commercial property, with as little as 30 percent downpayment.

In a recent interview, Mr. Muriithi revealed that the company is planning to expand to other areas in the outskirts of Nairobi.

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