The Star (Nairobi)

23 January 2013

Kenya: Developer Plans Sh4 Billion Estate Near Konza Site

The eagerly awaited Konza Technology city was finally launched by president Mwai Kibaki in Makueni county. ( Resource: Kenya's First Technology City Launched

A property investments firm has lined up a mixed-use development near the planned Konza City, positioning it as a suburb that will match the needs of the technocity.

The development, dubbed Evergreen City-Konza, is 11km from the Konza City site and sits on 75 acres. It is expected to gobble up an estimated Sh4 billion in cumulative investments in residential, commercial and hospitality properties, and social amenities.

The estate is hoped to be up by 2015, with actual build set to begin in the second half of 2013. Petu Property Group, the developer, is hinging it on "high technology, modern living and environmental-friendliness."

"This will be a fully self-sufficient scheme. Konza City will need such developments to service it during its construction because those working there will need quality residential accommodation," the group's chief executive Leonard Ithau said.

"Besides, it offers possibilities for owner-occupier for those who will be working at Konza in the long-term and would opt not to rent."

Evergreen City-Konza sits six kilometres from the proposed Konza Railway Station raising prospects of affordable transportation on the rail line which is poised for an upgrade.

The developer has set aside seven acres where 480 apartment units will be put up in six, 11-storeyed blocks with a mix of 1-3 bedroom units. The apartments will be for sale.

Petu is also selling 126 quarter-acre serviced plots for stand-alone residential developments. The introductory price for the plots has been pegged at Sh2.5 million each.

Commercial, retail and office spaces are planned on 4.2 acres, with the hotel and hospitality zone also sitting on an equal space of 4.2 acres. A community centre and a nursery school will both sit on an acre each, while the green area will take up five acres.

The development will also have a borehole and water treatment and storage area, a sewer treatment plant and a sub-station for electrical and power installations.

"We have ensured appropriate landscaping taking into account that this is a water-scarce area. We will also have way-leaves of 12-18m wide and high speed internet connectivity to the houses," Ithau said.

Buyers of the serviced plots will choose from house-types that have been pre-designed to ensure controlled development.

Evergreen City-Konza is a first in a wave of real estate developments expected to be triggered by today's Konza City groundbreaking which kicks off construction of the technology city.

"The vast Konza area is an ideal location for setting up a town, airport and other facilities. It is fortunate that the area was initially demarcated for livestock ranches because this now presents opportunity for properly planned developments and infrastructure," said Ithau.

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