By Eric Wainaina
Last weekend saw KTN’s The Property Show, Chase Woman and Migaa Estate host women at the Migaa lifestyle gated community grounds to explore investment opportunities.
“The real estate industry is a major source of the country’s economic growth. Indeed, Kenya is one of the world’s most profitable real estate destinations. Never has there been so much interest and opportunities for real estate investors,” said The Property Show host Nancy Muthoni.
According to Nancy, the event was aimed at providing details one needs to start on the path to success in investing in real estate.
“As I have continued to host the Property Show, it has become evident to me that the real estate industry remains a great source of economic gains and growth. It is time for investors to explore ways to tap into the available opportunities,” she said.
Migaa Estate is a multi-million-gated community coming up in Kiambu, with the first inhabitants expected to move in this November.
The land, previously a coffee plantation, is already changing to a concrete jungle as Home Afrika Limited; a real estate company, leads the putting up of palatial houses.
A section of houses and apartments, which were to be constructed by Home Afrika dubbed “Mitini Scapes” are almost through.
The project, which kicked off two years ago, is expected to have an 18-hole golf course. At the site, tens of workers are busy and according to the project chairman Mbugua Kamau, it is expected to be through in three years time. By next year, the developers aim to have completed connecting power, sewerage system, roads, and water. Migaa Estate is nestled between two rivers and two natural dams, in the heart of rich coffee plantation.
Providing the backdrop is a residential scheme with a health club, swimming pool, clubhouse, business centre, picnic areas and jogging track.
The residential development incorporates 774 acres of land of which 48 per cent is green open space.
Apart from Migaa, Home Afrika is undertaking other real estate projects in other parts of the country with plans to have projects in all 47 counties in future. Kiambu County, where Migaa is, is becoming the destination of choice for multi-million-shilling gated developments, with several developments on course.
The county is quickly getting a new facelift as more and more investors set up gated communities in the county, which was once an agricultural zone.
In recent years, investors have invaded the once coffee and tea zone, turning the available lands to concrete jungles from palatial estates to mega gated communities.
Many farmers are also now selling off their land to developers with others cutting down their coffee and tea bushes to pave way for the now booming construction business.