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November 17, 2018

Vipingo Ridge eyes more sales with price cuts

Villas on golf estate Vipingo Ridge in Kilifi, Mombasa. 
Photo/FILE
Villas on golf estate Vipingo Ridge in Kilifi, Mombasa. Photo/FILE

GROWING interest in live-in golf estates has caused a 50 per cent rise in enquiries for property in the Coast’s Vipingo Ridge project.

Out of 256 plots on sale in phase one of the luxury 18-hole golf prime property, only 18 remain, according to sales and marketing manager Bilha Mudiri.

Buyers are offered serviced land, sub-divided into parcels of between half-an-acre to two-acre plots.

“There are increased inquiries from the diaspora. We have people who have already come to reside at Vipingo after their retirement abroad. We want to get phase one fully developed so that we can move to other projects,” she said

Phase two comprises 22 luxury golf villas fully furnished in clusters of five.

Nineteen units in the off-plan project with an ocean view have already been sold.

The developer expects a further rise in sales and enquiries because of an ongoing promotion ending on December 31. The promotional price for a villa on Vipingo Ridge phase two is Sh39 million and the usual price is Sh42 million. A three-bedroom villa is Sh42 million, down from Sh45.5 million, while a four-bedroom villa costs Sh46 million, from Sh56 million.

Prices of houses on golf estates have more than doubled over the last eight years, according to the developers, boosted by increasing interest from holiday home buyers, retirement home buyers and buy-to-let investors.

Vipingo Ridge, one of the first residential golf estates, was started eight years ago, in a two-phase plan. The project sits on 2,600 acres on the North Coast, Mombasa.

Other fast rising golf estates in the country are Thika Greens, which has 850 plots, Migaa in Kiambu County and Buffalo Hills in Thika, among others.

On Vipingo’s phase one, an acre costs between Sh13 million and Sh18 million, half-an-acre ranges from Sh8 million to Sh22 million and a two acres cost Sh25 million.

“Phase one is fully developed with roads, drainage, water and electricity. We have built our own substation and we sell electricity to our residents at the same tarrif as Kenya Power,” Mudiri told the Star in an interview.

To complement the luxury lifestyle of the estate, Vipingo Ridge is connected via daily flights from Wilson Nairobi with links to Diani, Lamu and Malindi.

Apart from the ready- built villas, Vipingo Ridge phase two also has half and quarter-acre plots costing between Sh8.1 million and Sh13.2 million.

“Six are already sold so we have 26 units up for grabs. We plan to come up with a second 18-hole golf course in phase two,” Mudiri said.

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