By CORRESPONDENT, NAIROBI, Kenya, Oct 10 – HF Group has embarked on a Sh5 billion project to put up 1,520 apartments along Thika Road as the company ramps up its development portfolio. The apartments will be built at the former Clay Works off Thika Road in a joint venture with Clay Works Limited which owns the land. The project will sit on 24.5 acres and will be built in three phases. Phase one will be set on 8.6 acres, Phase two on 10.5 acres and Phase three on 5.4 acres. James Karanja, the Executive Director of HFDI, the property development and investment subsidiary of HF Group, said the two bedroom units will start from Sh6.5 million while the three bedroom units will start from Sh7.5 million.
“The first phase will see the construction of 560 units; the second phase will be of 480 units and the third phase will also see the development of 480 units,” Karanja said.
Phase one is expected to be complete by the end of 2019 adding to the variety of apartments in the market around Nairobi. The houses are targeted at the middle class market and other investors who may look to let out the units. HFDI has been pursuing a joint venture model where it partners with land owners and provides the financing to develop residential and commercial units citing the rising cost of land in the city.
The Clay Works development was initially announced in February together with another project involving parceling of 183-acre serviced plots scheme in Ruiru. The Clay Works project will have extra amenities to help it compete with other similar projects around the city.
“The project as a whole will offer a serene neighborhood with lots of park-like greenery, secure play grounds for children, ample parking and lifts that will give the residence a homely feel,” Karanja added.
A shopping centre and a kindergarten will also be built during the last phase of the project.
Developers are putting up more apartments in Nairobi and its satellite towns as the cost of land makes it less viable to build standalone units targeting the middle class.
I visited a pal kule Kitengela or shld I say Athiriver in a 2 bedroom apartment he bought at 5 million,hizo vitu ni upuss. The house is too small I almost suffocated in the sitting room yet we were just 3 of us. Worse ni bibi alioa juzi anadai wahame ati hio nyumba sio size yake. For that amount anyone wise can easily build a nice bungalow,own compound. It’s a no no for me. Na saa hio ununue 7th floor.
Crystal Rivers Athi River by Safaricom sacco is a gated community with its own shopping mall, schools, recreation, commercial space is ongoing and on schedule
I have watched the ongoing on this site since the day one of the contractor moving in. The kind of suffering he has had to endure is enormous during raining season as its sits on the Arthi river bed aka riparian areas. Water filled up the foundations and they could only wait till the rains eased just to start draining for months on end.
However sold them that land did shaft them big time. Even the bridge and the SGR are raised up high to allow for large volume of water to flow during the heavy rain downpour up the the hills of ngong.
ile jam itakuwa thika roaad in the next ten years, hio super highway will lose meaning. are there any plans for mass transport/light train on thika road, or itakuwa tu hivyo?
Its seems you were right, i checked to confirm again and i found its called Crystal waters in Kasarani and it seems the investor has successfully sold the project to housing finance. That my friend is what we call a home run. He will still have some shares while build finances is guaranteed. http://www.formlab.co.ke/
