Real estate firm pays dividends for investments in agri-business

Property agent PRC, the pioneer of the greenhouse concept for real-estate plots, Wednesday paid investors Sh12 million as proceeds of agricultural produce from Laikipia County parcels.

PRC board chairman Brian Gacari said 6,600 tonnes of capsicum and tomatoes were grown under irrigation by an Israeli firm Green Arava and sold to hotels, learning institutions and various markets.

He said irrigation had enabled them to attract good prices as well as meet contractual obligations with customers throughout the year. He added plans were under way to expand the 70-acre venture by 300 acres next year.

The value-addition concept has gained momentum with other land sellers, notably Life of Good Times Ltd, Uriithi, Diamond, Gakuyo and Optiven introducing the agribusiness product.

Mr Gacari said buyers of one eighth of an acre (50 x 100 feet) at Sh299,000 would receive a minimum Sh100,000, with the dividends totalling Sh12 million slated for payment in the next one month.

Mr Gacari said the plots once bought became property of the buyers who had an option of investing Sh240,000 in greenhouse construction as PRC took over the farm’s development and decided on the suitable crops as per market trends.

“We deal with fast-moving produce that has a ready market and also attract good prices. We have been able to provide jobs for locals as well as transporters and middlemen whose task is to look for market while our role is to raise the two crops for the market,” he said.

A beneficiary Miriam Wanyonyi welcomed the concept saying buyers of land now have a new revenue stream besides speculation where one waited for appreciation. PRC currently has 55 green houses at the Laikipia County property that has been fenced off.

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