Demand for land in the Nairobi Metropolitan Area has drastically increased since the onset of Covid-19 as Kenyans look for safe areas to put up homes.
Many have been forced to look for land in controlled development estates within Kiambu, Kajiado and Machakos counties to build safe homes for their families.
This has seen Tatu City, a 5,000-acre mixed-use development, sell 90 per cent of its residential plots.
The gated community will have homes, schools, offices, a shopping district, medical clinics, nature areas, a sport and entertainment facility and manufacturing area. The project started in July 2015.
Tatu City sales head David Karimi said most residential units were sold last year and a sizeable number of homeowners have already moved in while others continue to develop their properties.
The demand for land in a conducive environment safe for a family setup, he said, has continued to rise with many Kenyans seeking to build homes in the outskirts of Nairobi.
He said Tatu City has been selling in excess of 10 residential units every month courtesy of a good infrastructure that the developer continues to offer to its clients.
To give the real estate market confidence, Karimi urged developers to start construction of their projects instead of sticking to off-plan developments.
Since last year, Karimi noted that property value increased by 10 per cent not only due to growing demand but also accelerated infrastructural growth at Tatu City. A quarter an acre piece is going for Sh14.5 million while half an acre is Sh29 million.
“With this kind of growth, we anticipate that the land value will increase by 15 per cent this year,” he said.
He said investors at Tatu City get serviced plots, utility connection points among them power, water, sewer storm water drainage and tarmac roads with clear architectural design guidelines protecting their entire property.
Already, 400 housing units are being constructed by Unity Homes which is doing 1,100 units with 100 buyers already having moved in.
Lifestyle Properties which is building 1,400 units and has already sold 300 units and 100 buyers have moved in.
About 85 per cent of Tatu City’s industrial park has already been sold with 60 companies already having purchased land.
“Fourteen have already moved in and 30 are in the approval stage,” said Karimi. "We welcome all investors and homeowners to come and see. The project is no longer a concept but a reality,” he added.
Edited by Henry Makori
