Business Daily (Nairobi)
Morris Aron
27 May 2008
A private developer is constructing environment-friendly housing units whose demand is growing among tourists and high-end buyers at the Coast.
Medina Palms is the second investor this year to announce plans to invest at the Kenyan coast in what appears to be renewed interest along the humid area.
Last month, Pangaea Holdings announced plans to pump over Sh7 billion in the next five years to build a housing complex in Mombasa that will exclusively use solar for all its energy needs.
Medina plans to put up 50 exclusive villas and apartments including penthouses within beach access.
"The estate has been designed with a strong environmental awareness in line with growing concerns of global warming," said Ben Woodhams, managing director of Knight Frank Kenya, who are overseeing the project.
Sarah May-Brown, Knight Frank International residential development director, said the strong demand for houses along the coast-line had pushed up property prices.
Second home
"Stunning scenery, a glorious coastline and abundant wildlife make Kenya an attractive option for overseas buyers in search of a second home," said Ms May-Brown.
The design of the Medina Palm houses, the developers say, is inspired by the architecture of the ancient spice traders, who frequented the coastline in the 12th century.
Included in the plans are bio-digesters to minimise water consumption, effectively generating 'free' water for laundry, pools and irrigation for the gardens and trees.
Prices for the houses range from £120,000 (Sh14.5 million) for a two bedroomed to £1 million ( Sh123 million) for a 6 bedroomed luxury ocean villa with private swimming pool.
The investor has partnered up with an international wildlife charity, the Born Free Foundation, to use part of the proceeds from house sales for coastal conservation.
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