21 November 2012

Kenya: Kamuthi Housing Cuts a Niche in Servicing Land

Kamuthi Housing Co-operative Company has cut a niche in buying, servicing and selling land for development to its members and the public.

Chairman Bernard Maina said the company angled its business model towards real estate in 2008 to tap into the tidings of growing demand from Nairobi residents seeking decent housing.

Kamuthi's latest project is dubbed Buffalo Hills Leisure and Golf Resort, a gated community sitting on 355 acres of land in Kiambu county.

Land buyers at the development will build their own houses on the serviced land which is on sale at Sh2 million for a quarter of an acre.

It will build a clubhouse and golf course. Buyers will get a 10 per cent discount for paying within a week, five per cent within three months and 2.5 per cent within six months. The payment period is up to nine months.

As the master developer, Kamuthi Housing Co-operative will also erect an electric perimeter fence, solar-powered street lighting and arrange for 24-hour security surveillance to guarantee security for the residents.

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