In 2003, the thought of a super highway was inconceivable to many.
Flash-forward nine years later and voila! The highway is in use. This has attracted businesses mushrooming along the highway between Roysambu to Thika town thus creating further opportunities for property owners to invest.
Those who had bought land in this area are reaping the fruits of their vision. The doubting Thomases now have reason to believe in Konza City and Lamu Port–South Sudan –Ethiopia Transport (LAPSSET) corridor flagship projects, a manifesto of the Vision 2030. A flagship project only sets the pace for multiple vessels behind it.
Speaking during the official ground breaking of LAPSSET in March this year, President Mwai Kibaki applauded the project as a major step forward for the regions economic integration intended to connect people to socio-economic opportunities.
As the coalition government nears its dissolution in a few months’ time, great economic growth and infrastructural developments have been realised courtesy of the Vision 2030.
“Property investment is a key contributor to economic growth in the country” said Vice President Kalonzo Musyoka as he officiated the opening of a commercial building in Nairobi’s Westlands area recently.
Kenya’s cities and towns are now congested in addition to being poorly planned. That must change. Even as we head to paving way for a new government, there is an acute need for an effective capacity for regional and urban development planning starting with adequate housing for those now living in slums. We have evidenced slum upgrading in areas such as Mathare and Kibera in the recent past.
Furthermore, there will be better development of and access to affordable and adequate housing for the rest of the population. This will provide enhanced access to adequate finance for developers and buyers to unlock the potential of the housing sector through private public partnerships.
Incepted in 2008 by the coalition government, Vision 2030 is tasked with the sole responsibility of transforming Kenya into a globally competitive and prosperous nation. Under its social pillar, Vision 2030 unveils a programme on housing and urbanisation intended to aid in providing increased access to housing and construction of infrastructural services.
As a result, several milestones have been realised so far including loans of up to Sh1.231billion extended to civil servants for purchase or developing properties. This has opened up a myriad of opportunities for local and foreign investors to delve into the property market both in the private and commercial sectors.
The coming up of the Northern, Southern and Eastern bypasses have also attracted many investors to these areas. The investors have therefore, put up executive office space, commercial development facilities such as business centres and shopping malls.