Agricultural and Industrial Holdings, a Kenya-based developer is looking to build a residential estate in Nairobi’s Clayworks. The development, on approximately 16 acres will have 560 two and three bedroom apartments at $29m.
However, they are yet to receive National Environment Management Authority (Nema) to proceed with the same.
According to the statement issued to Nema for purposes of seeking a permit, the project will offer cheap housing as it puts economies of scale to play with the construction of 560 apartment units on 14 blocks. This, they explained has the main aim of improving Nairobi’s residential housing conditions.
The three bedroom apartment occupies approximately 104.6 square metres, whereas the two bedrooms occupy 81 square metres. Although the developer is yet to reveal the prices for the housing units, the costs are expected to go for less than the current $48,500-77,600 that houses focusing on Nairobi’s middle class focus on.
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The project will be incorporative of features such as paved access road, power sub-station, water supply as well as a community centre for social interaction.
The sudden pick of apartments in Nairobi and its environs has come about as a result of significant increase in land value.
As such, developers such as Agricultural and Industrial Holdings are opting for apartments other than stand alone houses like masionettes and bungalows with regards to returns in terms of the land size.
Moreover, the apartments are cheaper when compared to the stand alone houses. This is with regards to the availability of social amenities that are usually put up within the same area as the apartment units.
There is also a sense of security that comes with the proximity in the houses. Some developers have even gone ahead to implement features like solar lighting and high perimeter walls to facilitate the same.
