19 December 2012

Kenya: Developers Face Mt Kenya With Luxury Houses

Luxury home builders have shifted focus to the slopes of Mt Kenya as major developments launch in quick succession.

In less than a year, investors have announced key developments for luxury homes around Mt Kenya.

Ol Pejeta, a 90,000-acre private wildlife conservancy in Nanyuki, has already began the actual construction of 100 luxury homes of 3-5 bedroom, with part of the selling point being the proximity of the mountain.

The latest real estate development to launch in the region is Mt Kenya Holiday Homes in Naro Moru. It sits on a 123-acre piece of land and will have 95 units of luxury houses on half-acre each and a nine-hole golf course.

The development is expected to be fully completed by December 2013. Developers are pegging their bets on the tourist circuit and ongoing infrastructural projects anticipated to open up the region further.

"The vast Mt Kenya region has in recent years suffered economic stagnation due to lack of investors, but I am glad that a consortium of like-minded, youthful and focused Kenyans is now the new class of investors," said Reginald Okumu, the Ark Consultants director.

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