2 January 2013

Kenya: Buyers at Thika Greens Golf Estate Begin Construction

Plot buyers at the planned Thika Greens gated development have commenced construction of homes after the master developer made significant progress in servicing the land.

Sales for the Thika Greens Golf Estate begun in 2009, after which the developer embarked on building requisite infrastructure and amenities on site.

The controlled development, planned in three phases, now has 34km of water piping and 22km of paved road.

"(This) has resulted in a flurry of activities as landowners move swiftly to occupy," chief executive Charles Kibiru said.

Twenty-two houses are currently being built, with more owners of the eighth-acre plots anticipated to kick-off construction this year.

"We expect by the end of 2013, 500 constructions will be ongoing," said Kibiru.

Tasks are being executed simultaneously to fully service the land, he said, except those that are unavoidably sequential.

An 18-hole golf course set on 307 acres has been shaped, with the first nine holes and club house are hoped to be ready by March.

The master developer, Thika Greens Ltd, is also building 70 golf villas and has completed two show houses.

Early buyers of plots at the planned estate are reaping 'early-mover' advantage, with re-sale values of the location having increased to over Sh1.2 million from purchase prices of Sh850,000.

The development is estimated to cumulatively gobble up $650 million (Sh55.9 billion) in investments by both the master developer and home builders.

Copyright © 2013 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.