Category Archives: Property Leo

Kariobangi property owners sue Kenya Roads Authority over Outer Ring demolitions.

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Seven Kariobangi residents have moved to court seeking to have the Kenya Urban Roads Authority (Kura) stopped from demolishing their properties. This comes shortly after Kura marked eight structures at Kariobangi Light Industries on Outer Ring Road for demolition.

The road expansion has been long in coming. But the property owners say identification and marking of structures for demolition has been done without following laid down procedures of acquisition.

Valley View Business Park offers tranquil serenity in a bustling city.

Valley View Business Park

The Valley View Business Park is proof that functionality is not the only factor that property developers consider when designing a commercial space. If anything, opulence and lavish comfort can also be part and parcel of the final product. The business park, an 11-storey twin towers, took three years to construct and is now ready for occupation.

According to Villa Care Limited, the selling and letting agents managing Business Park, interested parties seeking to occupy the facilities can do so from as early as Tuesday this week to May 10, 2015.Situated near Nairobi’s City Park; it is sandwiched between the Mathare River and Muthaiga estate, as well as the proposed M15A highway and City Park Nature Reserve.

Here’s how to buy a house without paying any deposit.

 

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To the vast majority of urban Kenyans, owning a home remains is a pipe dream. In fact, according to the National Housing Survey Report released earlier this year by the Cabinet Secretary for Lands, Housing and Urban Development, Mrs. Charity Ngilu, only 4.2 per cent of Kenyan households could borrow money to buy or build a house. This explains why the number of households paying rent rose from 17.25per cent in 1994 to 23.8per cent in 2005/06.

It is with this in mind that one property developer, Kings Pride Properties, has come up with what it calls the “zero deposit route” to owning a home. The firm’s chairman, Maj (rtd) David Karau, says they have been working ways to enable the youth, as well as lower-middle and middle-income earners, to  afford their own homes.

Trick to building on black cotton soil

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When Martin Wang’ombe went to inspect a plot he wanted to buy in Oloolua in Ngong, he noticed something unusual about his would-be neighbour’s house. It seemed to be slanting and had a huge crack on the wall. As he would later learn, the house was sinking, sucked in by the black cotton soil on which it stood. It turned out that the plot was in an area where the soil was more than 10 feet deep.

Normally, black cotton soil swells when wet and shrinks when dry. These changes, known as shrink-swell, tend to make the foundation sink deeper with time, leading to structural damage to a house built on such soil. During the construction of the house mentioned earlier, the contractor did make it rest on the bedrock, so the shallow foundation started sinking once the soil began swelling and contracting.

Upper Hill, Kilimani among most expensive in Nairobi

For a long time trading in gold was seen as a sure-fire way to make money but today’s investors are looking at the ground beneath their feet to get them hefty returns.According to an article done by Hass Consult titled, Urban Land rises as Kenya’s gold standard,  land in Nairobi now offers a lot more financial gain than gold, property, livestock and oil.

“From 2007, land prices have magnified five-fold,” says Ms. Sakina Hassanali, head of research and marketing at Hass Consult.

The article, which is the first land index to be unveiled in the country, also revealed that buying land in Nairobi is out of reach for many individuals and this has forced them to look further afield when it comes to buying land.

Authority halts constructions in bid to rid city of unsafe buildings.

Various property developers in Nairobi have been ordered to stop construction of commercial buildings for failing to meet government regulations.

In a campaign that launched on Friday to ensure developers met the regulations, the National Construction Authority (NCA) found out that cowboy contractors were involved in construction work.

The two-month campaign came in the wake of collapse of buildings in Nairobi, the latest which involved a seven-storey building in Huruma area, barely two weeks after a similar incident in Makongeni.

“All buildings should be a constructed by an authorized contractor who is under National Construction Authority,” said NCA Senior Investigator Chrispus Ddinyo, who led a team of colleagues on a tour of Thika Road neighborhoods where the campaign was launched.

Real estate developer Home Afrika eyes counties

Property developer Home Afrika is planning to make multi-billion shillings investments in what it said are mega housing projects across different counties in its bid to tap into the county system of government.

The firm is embarking on a county focused strategy dubbed ‘Go County’ revolving around the devolved system in Kenya. The firm said it expects to play a part in the decongestion of major urban areas by developing alternative satellite cities across Kenya.

In the plan, the developer hopes to capture the middle and low income market segments that it notes have largely remained neglected by current market players.

Already Home Africa has three real estate projects in counties outside Nairobi and said it has lined up investments in other counties, namely Lakeview Heights in Kisumu County, Llango in Kwale County and the multi-billion Migaa project that is under construction in Kiambu County.

Firm to put up Sh1.6bn city gated houses

Real-estate firm Lifestyle Apartments is putting up a Sh1.6 billion gated community targeting high and medium-income earners. The developer has announced it will construct 310 units along Mombasa Road over the next two years. The units will include 230 two-bedroom apartments and 80 three-bedroom apartments targeting expatriates and mid-level managers.

The company said the project, dubbed Lifestyle Terraces, opted for the Mombasa Road site due to its proximity to shopping malls and the railway station.

“It is near social amenities like airport and the Syokimau railway station to offer swift connectivity. The newly constructed Gateway Mall on Mombasa road is just a five minutes walking distance from Lifestyle Terraces,” said Peter Karoki, a director at the real-estate firm.

Kenya’s Commercial Real Estate in Top Gear

Right on the corner of Chania road off Ngong- Kilimani, is a new commercial building with approximately 40 office suites on five floors ranging in size from 60 square meters to 165 square meters. The workers at the site are busy with the finishing touches as the building due to be completed in one month.  CnC Property Managers, the selling agent of this development say the property is totally let out and 70% sold. Just right across the street is an old partly demolished residential building with a notice of change of usage from residential to commercial.

Kenya ranked as the most improved real estate market globally

The Global Real Estate Transparency Index ranked Kenya top among 14 most improved countries in real estate transparency globally. The Index by consultancy firm Jones Lang LaSalle Index uses a combination of quantitative market data and information collected through surveys of its global business network.