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Telco’s venture gives public slice of Kitengela, Athi River

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Kitengela Town in Kajiado. Its growth has attracted land acquisition firms.

Located approximately 31km south of Nairobi, Kitengela is a town that modestly began about 30 years ago as the Kitengela Group Ranch, which then comprised of about 45,200 acres of land.

Back then, the mainstay of the local communities was livestock keeping and herding.

But this trend has seen transformation in the latter years, and now, this hitherto little municipality is progressively undergoing exponential growth.

It now prides in several new buildings comprising malls, complexes and rental apartments within the town’s square and gated maisonettes and bungalows in the backcountry hinterlands.

International schools such as Kitengela International School are pitching tent in the town, major hospitals and shopping centres are already established, even as others are coming up, while the Export Processing Zones Authority (EPZA), has always remained a well-known feature in the area too, retaining its imposing atmosphere.

The town also hosts several other industries and establishments including cement factories, higher learning institutions, grander resorts, hotels and guest houses, and numerous amenities, which are all drawing a good number of private property developers to the once-upon-a-time sleepy neighbourhood.

OPPORTUNITY TO OWN LAND

Safaricom Investment Cooperative (SIC), run by staff of Telco firm Safaricom, has ventured into real estate and owns property in the area.

The asset-venture co-operative which in the past, had been affording parcels of land to its members only, moved away from that norm and are extending the offers to the public.

SIC seeks to give folks an opportunity to acquire land around Kitengela and Athi River towns.

Le Maiyan Athi River, which was born out of an idea by SIC, comprises eighth of an acre parcels near Kitengela Town.

According to SIC marketing officer Gloria Chebet, the development, which is situated about 500m from one of the key access roads in Kitengela, is ideal for family quietude, as it is not by any means congested nor present a likelihood of insecurity.

The area, which is also surrounded by several eminent estates, is located just 500m from a clean water source, and sits on a region under controlled development regulations.

“Security is a necessity for any prospective establishment. Le Maiyan’s security condition is optimal, as due to its proximity to the EPZA, its safety is catered for. This is amplified by the aspect of it being close to SGR Athi River Terminus, which, from a different angle, is also an enticing one in commuting,” says Ms Chebet.

FLEXIBLE PAYMENT

The firm, she says, has gone into partnerships with several banks, to facilitate financing for land.

In the setting, buyers are able to get flexible payment models. These range from between 12-24 months; an ample duration for one to complete the outlays, which can be achieved by developing the parcel and earning from the development.

“Our mother company is a renowned trustworthy brand; one that is reliable in provision of key essential services such as telecommunication, mobile money transfer and banking, information delivery and Internet connectivity, and this characteristic, now extends to the property sector. For quite a while, we have witnessed, and some of us have even fallen prey to defrauders, using devious and conniving means to swindle prospective yet gullible property buyers,” says Stanley Hussein, the sales and marketing manager at SIC.

According to Mr Hussein, the influx of land acquisition firms, has brought with it fraudsters, out to mint money from customers, who, perceive the fraudulent schemes as an easier way to purchase land.

SIC marketing manager Stanley Hussein.

According to him, as an investor in real property, always purchase from well-known credible firms, confirm the titles of the property, and demand for the green card of the property, which details its ownership history.

To be safe from the swindling cartels, the SIC sales and marketing officers say, the buyer should also have a property lawyer at hand, always duly verify the authenticity of the identifications of the agents working for the property firm involved, conduct the real estate’s confirmatory searches, and make a physical visit to the property.

“It is much easier to do these than to live in regret for having lost an investment’s worth to a charlatan,” Mr Hussein advises.

As population increases, according to him, the demand for land also goes up, and one can hardly go wrong with a land purchase, especially in potential prime areas, which exhibit prospective growth and expansion pointers.

Such areas, according to the property acquisition expert, soon see their land rates skyrocket, which makes them an ideal investment for one who seeks to capitalise in the real estate sector.
He adds that the value of land is always appreciating unlike other forms of property whose value depreciates with time.

Ms Chebet moreover points out that land also comes handy as a form of security and in the African context, its ownership is perceived as a source of eminence, giving pride to the investor.

The sales and marketing executives further indicate that Le Maiyan, for instance, is ideal for settlement, farming and agriculture, commercial developments such as construction of rental apartments and flats, and development for recreational purposes, such as amusement parks; all through which the investor can earn, even if he/she does not necessarily plan to settle in the land.

“These developments, when set up in the acquired parcels, are capable of ensuring the real estate pays for its own purchase, if the investors well utilise their resources,” Mr Hussein says.

 

-www.nation.co.ke

     

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