For many years, Kajiado County has been a grazing land, where pastoralists, especially from the Maasai community feed their livestock.
However, things are slowly changing. The vast land is now home to real estate developers who are rushing to cash in on increasing housing demand in areas close to the capital.
Daniela Owen of Cretum Properties Limited, a company that works with savings and credit cooperative societies in Kenya to buy large tracts of land and subdivide it into smaller plots for sale, is one of the investors who have realised the huge potential Kajiado County has in terms of real estate investment.
“Before I joined the real estate business, I was working at a small land selling company in Eldoret. I was still a student at Moi University pursing a degree in human resource. I thought land and housing business was good, I slowly started investing in it,” she told Money.
However, in property business as she came to learn, a lot of research is needed as well as establishing contacts with like-minded people, a task, she says is not easy.
Recently, with the help of saccos and financial institutions, the company launched a housing project in Kajiado’s Isinya town dubbed Green Isinya City and she believes the project will enhance lifestyle and security as well as give middle income earners in the country a chance to own homes.
“Isinya is one of the fastest growing towns in Kajiado County. And at Cretum properties we are targeting the middle class and we hope the ongoing project will have an impact on the community in terms of attracting more people to Isinya,” she says.
Green Isinya City project is a 150-unit, three-bedroom housing investment. The area, says Ms Owen, can be accessed through the busy Nairobi-Arusha highway and it is about 30 minutes’ drive from the city centre.
In an attempt to win customers Ms Owen says Cretum properties buys large tracts of land and subdivides it into smaller plots which are manageable, convenient and affordable to a majority of Kenyans.
“What is keeping us in this competitive and complex business is trust. Land business is tricky because there are a lot of conmen. Our customers range from individuals to corporate, but my dream is to help young people own land and have a roof over their head by building a small Runda in Isinya.”
She says the design of the houses incorporates aspects of modern architecture and the current trends of modern living.
“Each bedroom has toilet-cum-shower, lounge, fitted kitchen and utility laundry yard and in-built wardrobes. It will be just like other lavish estates, with the only difference being that it targets the middle class,” the young entrepreneur says.
The development will include access roads within the estate, manicured grass, a playground for children, a recreation centre, a football pitch, street lighting, sewerage system, perimeter wall with electric fence, surveillance cameras and a police station to guarantee round-the-clock security to investors.
To purchase land in the Green Isinya City individuals deposits 50 per cent of the total cost. However, the cost per plot is Sh700,000 for the first 1,000 plots and Sh1.2 million thereafter.
“As a company, we have undertaken five successful projects within Mavoko municipality. These have been sold, title deeds processed and delivered to buyers. At Isinya, the infrastructure is expected to be completed in two years to allow investors to start building their homes.”
She believes that technology is playing an important role in property business: “The Internet has helped us to sell property to Kenyans living abroad and even the locals faster than ever before.”
Website: Cretum Prperties
Green Isinya City