Runda is an evergreen suburb situated between Limuru Road and Kiambu Road in Nairobi. The estate is one of the most affluent neighbourhoods in Nairobi, with palatial homes bordered by clean and well maintained streets springing at you from every direction.
And in a few months, the area will welcome what some investors have described as “A Small Runda” project.
The Runda Paradise, as its known, started in April this year. It is a 150-unit and four-bedroom housing project which is expected to pioneer modern town houses next to Runda Mae, accessed either through Kiambu Road or Gigiri.
According to Norbert Mungai, CEO of Rock Asset Management, an investment and financial advisory firm based in Nairobi that is acting as a transaction adviser and the lead arranger of the project, Runda Paradise will have a transformative effect on the area by enhancing lifestyle and security as well as giving middle income earners a chance to own homes in Runda.
“We are targeting the middle class. We hope the project will have an impact on the community in terms of attracting more people to this side of Runda. The units will go for between Sh20 million and Sh30 million each. The construction is expected to be through by 2015 when the handing over will begin for the buyers to move in by September the same year,” said Mungai.
The housing project will have taken shape by mid next month while a second phase, adds Mungai, will comprise almost a similar number of units and a third phase, which will see a shopping mall erected. The shopping mall will offer services to the estate residents as well as in Runda and their environs since there will be a road linking the two estates.
The project was named Runda Paradise due to its proximity to the lavish Runda estate and the family facility Paradise Lost in Kiambu.
The 25-acre project, according to Mungai, is estimated to cost Sh1.7 billion and will include cabro access roads within the estate, manicured grass and a playground for children, and a recreation centre, which will be created on a natural swamp located on the land.
The project joins other upcoming gated community projects which have seen acreages of coffee uprooted as developers rush to reap from the increasing demand of houses in areas proximity to the capital.
It will sit in the neighbourhood of Migaa and Tatu, as well as a number of other small-scale projects within Kiambu County.