Developer unveils Sh1.65b housing project

Real estate developer Goldenscape Greenhouses has unveiled a Sh1.65 billion project in partnership with Silverstone Properties.

The investment, dubbed Aman Haven Investment, will enable individuals who have invested in Goldenscape greenhouses to own a home by contributing 85 per cent of the capital.

Goldenscape Group Chairman Peter Wangai said this would be done through rollovers from their agricultural returns.

“We understand that they would want to own a home but possibly they can’t at the moment. This plan allows them to own a home with flexible payments terms through Silverstone Properties Limited,” said Wangai.

The homes, according to Goldenscape Group Limited, are in Nairobi, Kajiado, Nakuru, Laikipia and Nayandarua counties.

While Goldenscape Greenhouses deals with lease of greenhouses, a concept where investors with no land can invest and they get their returns on investments after every six months for 3 years, Silverstone Properties on the other hand deals with property sale and development, property management, and property leasing.

He said the housing plan will comprise of low, middle and high cost which should cut across the different demographics of the market.

“It will also be the first of its kind in Kenya to be 15 per cent off in the real estate industry not mentioning the affordability, quality and the flexibility in payments,” said Wangai.

He added that the 15 per cent off per unit plan is possible with the right planning and right approach.

“Sometimes it is not about the money but the humanity and legacy we leave as Goldenscape for generations to come. We are not refuting there is minimum profit in this venture, the margins are small but it’s about the little things we do to put a smile on our investors faces,” he said.

Investors will be rolling out their returns from the greenhouses and will also be required to top up some amount every year depending on the house. The investors can also save with the company’s sacco Goldenscape Sacco where they can access loans.

Investors will have to choose from villas, townhouses, apartments, bungalows and massionattes depending on how much they have saved.