Plots Kangundo Road: The increasing property value in areas proxy to the city and its immediate outskirts, as well as the infrastructural development by the government in areas considered rural, has seen investors in the real estate sector rush to far areas where huge and affordable land is available.
There is no better way to end the year 2019 than with a plot. Better still, if that plot is located in close proximity with the Nairobi central business district, has a ready title deed, and is situated very close to the tarmac. Take Kangundo Road for example. While other areas in the outskirts of Nairobi continued to enjoy unprecedented growth, Ruai, Joska, Kamulu and other areas along Kangundo Road remained stagnated, largely due to lack of infrastructure, which discouraged investors from venturing into the area.
Today, the area has experienced unprecedented growth after investors begun putting up housing projects, both for rental and sale. Currently, the area, which stretches between Nairobi and Machakos counties, is dotted with maisonettes, bungalows and storey flats. And in almost every corner, more buildings are under construction.
In Ruai, Joska and Kamulu, several hardware establishments selling construction materials have come up, a manifestation of a booming property sector. In the same vein, real estate companies have come up with flexible payment terms that are aimed at ensuring that buyers are not left behind.
Take Fanaka Real Estate, one of the fastest growing real estate companies in Nairobi. Fanaka Real Estate was registered and incorporated as a limited company in June 2016. The company is located along Kangundo road in Ruai Town. It is among the most preferred real estate companies in Nairobi. Over the past three years, the company has established itself as the company of choice for many Kenyans looking to acquire land, especially due to its presentation of ready title deeds upon acquisition.
The company is more favorable for low-income earners due to the affordability of its plots. For instance, the company sells an eighth (1/8) of an acre in satellite towns such as Kamulu, Joska and Malaa at prices as low as Sh. 399,000. Interestingly, the plots that Fanaka sells are located close to the Nairobi Central Business District (CBD). Their projects are located along Kangundo road and within a radius of 39km from the CBD. Kangundo road is currently under expansion to be made dual carriage from Caltex all the way to Malaa town.
These plots are also suitable for immediate development with amenities such as water, electricity, all weather roads. Fanaka Real Estate Company has also distinguished itself by offering flexible payment options such as installments for both individuals and chamas. For example, as a buyer, you can get a piece of land without paying the whole amount. “This has enabled us to accommodate even people with irregular income, business people who will definitely make money and be able to pay within the agreed period,”says Moses Muriithi, the firm’s founder and director.
Muriithi adds that Fanaka specifically looks for land that is not far from the road. “People living here also need somewhere safe to be able to commute to work. That is why we have located all our projects close to the road,” he says. “In all our properties we ensure we put a perimeter fence, put a steel estate gate, grade the access roads and install water and electricity to make the properties ready for construction.”
Once a customer buys a plot, it will only take 21 days for the title deed to be transferred from Fanaka to the buyer’s name. “We also offer daily site visits to buyers so that they can see and feel what they are buying,” says Muriithi.