Real estate firm–Optiven Limited has expanded to Nanyuki as it moves to tap growing potential in the region.
The land-selling company has been keen to cement its market in Kiambu and neighbouring counties, amid a growing appetite for investment in satellite towns where prices of land are still affordable.
Optiven has made entry into Nanyuki with a residential and commercial development project dubbed “The Great Oasis Gardens”.
According to CEO George Wachiuri, it targets buyers seeking to invest in holiday homes, health facilities, and malls with offerings ranging from a quarter of an acre to five-acre blocs.
“There is huge potential in holiday homes, rentals, health facilities, and schools. The region has a huge population, which guarantees a return on investment,” Wachiuri said.
The Nanyuki expansion is in line with the company’s target to create 30, 000 jobs in the medium term, he noted.
The firm also has projects in Malindi, Kitengela, Kangundo Road, Konza, Thika, Kajiado,Naro Moru and Naivasha.
“These projects translate to jobs for locals and revenue for both the national and county governments,’’ Wachiuri explained.
There has been an increase in real estate activities in the second half of the year into 2022, after a slow down that came at the onset of the Covid-19 pandemic, with Nairobi and surrounding satellite recording good business.
According to a market report by Knight Frank, the value of building plans approved in Nairobi County alone was Sh16.8 billion in quarter three, a 49 per cent increase from Sh11.3 billion in a comparable period in 2020.
“This significant increase was a result of greater efficiencies in the county government operations coupled with the improving economic conditions,” the firm notes in its half 2 report released last week.
The number of land transactions in the form of title transfers and leases at the Ministry of Lands to September 2021 was the highest in the past five years totaling 5,355, which represents a 35 per cent increase from a similar period in 2020.
This is a result of the greater efficiencies at the lands registry allowing investors to finalise on transactions carried forward from previous periods.
Market correction also contributed to increased transactions with some vendors accepting offers of more than 20 per cent off their asking prices.
A market report by HassConsult also notes an increase in land and house prices in Nairobi, at the fastest pace in three years respectively.
This was driven by renewed demand from buyers.
Housing remains at the center of the government’s Big Four development agenda.
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