23 C
Kenya
Saturday, September 19, 2020

How Sh. 400,000 plots turned into multi-million property business

Must Read

Kenyans to start getting home loans at seven per cent interest

Mortgage Rate in Kenya: Kenyans who earn Sh. 150,000 and below per month will start getting home loans at...

How to build standard three bedroom house with Sh. 1.9 million

Build Three Bedroom House: The cost of building a house largely depends on the materials and the cost of...

Cost and materials for 3 bedroom master ensuite mabati house

Three Bedroom Mabati House: How much would it cost you to build  three bedroom mabati house that has a...

Property Business Kenya Mr. Geofrey Kiragu runs a multi million business selling plots of land in Thika and other parts of Kenya but it was never a smooth ride. As a graduate of Bachelors in Economics from Kenyatta University never sought employment but focused on coming up with a solution to property ownership for the average wage earner. “It gives me joy and pride when I support an average wage earner to buy a property from his or her desired location.” said Mr. Kiragu.

Click to view Lesedi Developers’ upcoming project in Juja touching the Thika Super Highway or contact them on +254 727 629386

Humble beginning

While still at the University in 2016, Geofrey set out to bring impact in the real estate industry starting off with a small project of just 10 plots and no full time ownership. Mr. Kiragu insisted that it was necessary for him to cut his operational costs so his clients don’t end up carrying the burden in expensive plots of land. It’s on this note that he co-rented office space with some of his friends whose businesses were already mature enough.

Once Mr. Kiragu got his pricing right and comfortable for the average wage earners, there was a huge demand in his plots of land which later necessitated him to have a bigger office and hire more staff. Today Lesedi developers have a young and vibrant team of employees from which each client is assigned a personal agent to help them settle in and answer all their questions. Simple tweaks like these gave him an edge of innovation compared to his competitors that had been in the industry much longer.

Ngoliba Town plots – Some of Mr. Kiragu’s sold out plot and part of his success story – For more detail please contact Mr. Kiragu on +254 727 629386

Geofrey was inspired by his own poor background coming from a poor family in Thika and attending local schools such as Kimuchu Secondary, he realised that property ownership was mainly for the consistent monthly salary earners who could easily get bank financing. Through his company Lesedi Developers Limited, Geofrey now focuses on getting affordable plots of land for wage earners and supports them to acquire property through their companies flexible payment plan.

Classmate and future wife

In his childhood Mr. Kiragu was always in and out of school due to lack of fees but he maintained the focus and never gave up. When he joined the University he met the love of his life with whom he started a family and believes one can only prosper with a blessing from his or her spouse. “At the end of everything you will only have just your family left” , he said. Geofrey credits a lot of his successful decisions to the advice from his wife who has always been a voice for the little wage earners and their pain points when it comes to acquiring property.

Mrs. Kiragu tasked her husband to come up with a solution for affordable land that is still in a prime location and at a high appreciation rate. Through her advice to Geofrey she insisted the average wage earner is not looking for a cheap solution but rather an affordable and premiumly located property with a flexible payment plan. With this continued debate, Mr. Geofrey came up with plots of land from as low as Kshs. 400,000 in Thika paid for over 6 months’ installments.

Unlike his competitors, Mr. Kiragu focuses on affordable ready to settle properties in highly developed areas. Its with such commitment to deliver property to the average wage earner that has seen Lesedi Developers limited grow to one of the strongest real estate companies with their latest upcoming project being 27 acres at Juja along the Thika Super highway.

Point of inspiration

“My only regret was starting late.” He said. Alot of entrepreneurs of key life changing solutions for their community through brilliant ideas but hold on to their dreams because of a few bottlenecks faced by everyone starting a business. For Mr. Kiragu, he believed starting a real estate business required a lot of money and hoped to start once he had all the money needed.

Today Lesedi Developers, a business he started with less money, has properties in Thika and  other parts of Kenya and employs a big team of a support structure. In order to improve his leadership qualities Mr. Kiragu is currently taking another degree in commerce at the University of Nairobi.

“The best time to grow is when no one dares to ” Geofrey quoted Andrew Carnegie when asked why property is the prime asset for a  wage earner. In today’s economy with a less stable currency as compared to the dollar land is the only asset that can never depreciate. Land ownership will not only give you a sense of confidence and pride but also an ever growing returns on investment with the ever growing demand for housing and rapid urbanisation growth. Property Business Kenya.

Property Business Kenya: This inspirational story was written with consent and interview of Mr. Geofrey Kiragu, Founder & Director of Lesedi Developers Limited whose head office is now located in Thika Town, Thika Bazaar Building and can be reached on +254 727 629386 for more information.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

187,855FansLike
11,005FollowersFollow
186FollowersFollow
290SubscribersSubscribe
WhatsApp
Telegram

Latest News

Sick Nyandarua man dies on wheelbarrow as poor roads persist

Nyandarua Roads: It was shame and shock after a man from Nyandarua who could not access a health centre...

Kennedy Murimi: How I lost Sh. 300,000 buying a cheap plot

Cheap Plots Kenya: Kennedy Murimi is the managing director at Denver Group, a real estate company based in Nairobi. Greatest milestone: My greatest milestone is...

More Articles Like This