The project — Liza Heights — broke ground nearly 10 weeks ago with expected completion in mid-2017. Through a competitive tender we selected Clasico Builders (K) Limited as our contractor. This is a company with a great market reputation for quality work.
We will be constructing 60 apartment units – 30 two-bedroom with guest wing (121sqm) and 30 three-bedroom (118sqm). Off plan prices are Kshs 9.75 million and Kshs 9.5 million. The e-brochure forms an attachment to this e-mail and actual hard copy brochures will be ready in the next week or so.
My wife Winnie and myself believe it is a great investment for a number of reasons. First, we are building to a specification that is higher than the surrounding real estate developments. Second, purchasers in an adjacent development who bought off plan in Fahari Gardens Phase 1 have already experienced a Kshs 2+ million appreciation in their property values. Third, World Bank will very shortly be expanding Naivasha Road to a 6-lane highway – plans are at an advanced stage and once underway market prices for property along this road [where we are situated] will shift upwards significantly. Fourth, we will together with developers of Fahari Gardens be constructing a modest shopping/office complex as a next phase that will result in greater value of the Liza Heights apartment units. This will likely begin in 2018. Fifth, the family owns additional land in same location that will also be developed to a high standard over the next 5-7 years resulting in even greater property appreciation for those who make purchase decisions now. Sixth, the location is excellent and a short 10-minute drive from Westlands assuming non rush-hour traffic. Seventh, Winnie will be doing all the conveyancing work which simplifies matters for domestic/overseas investors – her law firm is W&M Advocates which she has overseen since 2006. Eighth, investors are already purchasing and we have started to receive deposits from several. And, finally, monthly rental returns for a 3-bedroom is Kshs 50,000 and this is likely to rise to Kshs 60,000 by the time we complete in mid-2017.