Kenya-based real estate company, AMG Realtors has ventured into the American market, with land investment offerings in Dallas, Texas.
Dubbed Kenya One, the new investment is expected to cater to a diverse range of buyers, including first-time home buyers, growing families, and retirees.
The firm is also riding on the high-demand but affordable property market in the US, with an average value of the U.S. farmland ranging from $4,080 per acre or (Sh515,000), an increase of 7.4 percent over 2022 values, or 3.9 percent when adjusted for inflation.
The residential real estate market in the U.S. stands as one of the largest asset classes in the country, worth $47.5 trillion in 2023.
Despite a slowdown in home sales, the total value of homes increased $2.4 trillion last year as low inventory levels pushed up prices.
The price range is almost similar to Kenya where an acre piece of land is ranging from Sh499,000 to Sh1 million.
The cost varies depending on the land's infrastructure, location, and purpose.
An eighth of an acre in major cities like Kisumu, Nairobi, and Mombasa can cost around 1 million. But you can find affordable land for sale in Kenya in other towns.
“The decision to invest in Texas was strategic, driven by the state's robust economy, business-friendly environment, and unparalleled growth trajectory,” AMG CEO Martin Githinji said.
"Having consistently ranked as one of the top states for job creation, economic opportunity, and quality of life, Texas’ dynamic business landscape, coupled with a thriving real estate market, makes it an ideal location for AMG Realtors' expansion."
According to him, Dallas has emerged as a major economic powerhouse, attracting businesses and residents from across the world, with companies such as Tesla and Oracle taking advantage of this growth and moving their headquarters and operations close by.
Located in Krum, Dallas, 15 minutes away from the North Texas University and a 45-minute drive from Dallas Fort Worth airport, Kenya One will feature amenities such as electricity connection, water connection, and gas connection.
“By investing in the United States, AMG Realtors is not only creating opportunities for its clients but also contributing to the strengthening of ties between the two continents,” posed Githinji.
The company provides a 60-day money-back guarantee on title deeds, ensuring peace of mind for its clients.