CIC Group has kicked off the sale of its 50-acre Ushirika Gardens land located in Kiambu. The land, which is part of a 200-acre property neighbouring Tatu city, has been subdivided into quarter size plots for easier purchase with prices starting from Ksh7 million. The residential plots will be set in courts within the larger gated community.
CIC Group Chief Executive Officer, Mr Patrick Nyaga, said in a high demand market for affordable residential developments, Ushirika Gardens presents a ripe investment opportunity for buyers seeking prime residential property.
“The last few years have seen rapid growth of residential building development across urban and semi urban areas,” Mr Nyaga said. “This has been elevated by demand for mixed use developments where people can both work and play. Designed as a gated community and located near the Nairobi CBD, Ushirika Gardens is well positioned for people who want customized homes in a serene and well developed area.’’
Based on increased demand for customized, accessible and mixed-use residential property, Mr Nyaga says CIC Group looks forward to high uptake of the plots. Buyers can pay for the plots either in cash or through financing through Co-operative Bank, which is one of the financiers.
“In addition, aligned to CIC’s strategic growth plans, this sale will also play a role in expanding CIC’s operational and financial strength, which is essential for our long-term growth and profitability,’’ said Mr. Nyaga.
The sale of the land comes after CIC received requisite regulatory and shareholder approvals. Cash buyers will be granted access to their plots for development on full payment. CIC has partnered with Cooperative Bank to provide financing and the buyers will be granted access to their plots once their loans are approved, and upon exècution of the necessary documentation.