The year 2019 is coming to an end, which presents a great time to boost your investment with something special. During the December festive mood, smart people always end the year with a bang: by investing in assets that will pay back in the near future.
One asset that has proved quite a deal is land. And not just any land. Plots that promise appreciation in prices for speculators or present opportunities for the construction of dreams home remain a big attraction.
But with growing demand for land, prices have been skyrocketing, leaving only a few pockets with affordable land that makes economic sense. These days, most investors are heading towards Kangundo Road, where they are finding affordable land which, not surprisingly, is still within shooting distance to the Nairobi CBD.
Towns with great potential
There are a number of areas or towns that have emerged along Kangundo Road, with Fanaka Real Estate Limited offering not only many options but also reliable ones along this route.
Started in June 2016, Fanaka Real Estate has established itself as a provider of affordable land. “All our properties are genuine and have ready title deeds,” the company’s director Moses Muriithi says.
Fanaka Real Estate sources land near upcoming government and private sector projects to ensure the value appreciates within a short time. What’s more, the company has flexible payment plans, allowing a down payment and monthly installments.
Regardless of economic status, you can still be able to acquire land and build a home through Fanaka Real Estate.
Real estate boom
The company has land in a number of areas including Ruai, Joska, Kamulu and Malaa, which are among the fastest-growing urban centres near Nairobi. These areas are experiencing unprecedented growth as investors build houses, both for rental and sale.
The real estate mini-boom has stimulated growth in retail business with areas like Ruai, Joska and Kamulu hosting several retailers, ranging from hardware to supermarkets and even financial institutions.
Fanaka Real Estate favours low-income earners given the affordability of its plots. An eighth (1/8) of an acre in satellite towns such as Kamulu, Joska and Malaa is sold for as low as Ksh399,000. These plots are ready for immediate development with amenities such as water, electricity, all-weather roads already in place.
“Once a customer buys a plot, it takes only 21 days to get the title deed,” says Mr Muriithi. “We also offer daily site visits to buyers so that they can see and feel what they are buying.”
Kangundo Road is currently under expansion into a dual carriage from Caltex all the way to Malaa town, enhancing prospects. This is certainly an area to consider as you make your year-end investments.
editor [at] businesstoday.co.ke