28 November 2012

Kenya: Limuru On the Verge of a Real Estate Boom

The real estate market in Limuru is set to benefit from the ongoing road upgrade in and around Nairobi as commute time reduces. Impact of Limuru's proximity to Nairobi is already being felt as land and house prices appreciate quickly.

A quarter of an acre is now priced at almost Sh10 million in Limuru town, up from about Sh3 million a few years ago. Most of the land outside of the town however is farmland.

James Kuria, the managing director of Real Shelter Management, says the area is easily accessible and adequately serviced by public transport, making it convenient.

Raw materials for construction are also readily available which cuts down on the cost of building.

The Limuru Municipal Council has apparently issued an ultimatum to owners of undeveloped land to build or sell to willing developers to catalyse the town's growth.

Limuru is also expected to benefit from the National Urban Transport Improvement Project which is being funded by the World Bank and the government to the tune of Sh35.1 billion. It includes road expansion from Mombasa Road through to Rironi near Limuru.

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