Land prices soar as Nakuru town readies for Sh3b airport
SEE ALSO :Nakuru prepares for city statusEarly last year, the county government announced that it had entered into an agreement with the national government, the Kenya Defence Forces and the Kenya Civil Aviation Authority to upgrade the 1.7 kilometre runway at the Lanet Barracks airstrip to international standards. On Saturday, the county government said the airstrip would be elevated to become an international airport at a cost of Sh3 billion. According to residents, the price of agricultural land in the area around the future airport, which previously ranged from between Sh2 million to Sh4 million an acre, shot up to nearly Sh10 million after the announcement. The landowners appeared convinced that the airport’s construction would be a boon for residential property developers. However, Peter Kiama, who previously lived near Lanet airstrip, is not convinced. Speaking to The Standard yesterday, Mr Kiama, a property dealer, noted that in developed countries, the announcement of a new airport did not improve the value of adjacent properties.
SEE ALSO :Strangers convert school into homesYet speculators appeared to be factoring in reports that the airport would be developed as part of a much broader mixed-use project known as ‘airport city’. Nakuru Town East MP David Gikaria, who represents the area, warned residents against selling their land to brokers whom he said were out to exploit them.
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