Breath of fresh air into the housing market

Nairobi has witnessed a buzz in property development lately with many big and daring players taking interest in the lucrative space. With only two years in the market, Deltar Properties Limited is already making waves in the city residential space. Theirs is a promise of class and affordability, which perhaps is what attracts lots of clients to their nest. Being developers of modern apartments in Nairobi comes with its fair share of uncertainty, especially since there is a crowd already involved. That, however, hasn’t stopped the owners of this company from wading in the rough for a piece of the pie. The ambitious company has three projects in Parklands, South C and the latest one in upmarket Kileleshwa. While most of their sales are done off-plan, the interest generated from concept to construction makes them a rare breed as many purchase straight from building time. Quality and good rates Deltar Properties management has put in place what would look like an interesting payment package that has seen inquiries bolt up in recent times. General manager, Hassan Jirow says research into the project beforehand has enabled them deliver what the market desires. “It was important to get the arithmetic right because the terrain can be a bit tricky. However for us, the eight-year plan in terms of payment has proved flexible for buyers. As long as you sell quality with good rates, you will have customers. This is precisely what we have done with most of our units already sold out,” he said. At the moment, the company is focusing on the Kilimani project and The Taji Residence, launched last weekend. The 44 apartments along Nyangumi Road will cost Sh17 million and buyers can pay instalments of Sh66,000 until completion inside six years. The other 44 units are reserved for Duplexes, each going for Sh19 million. Jirow believes it is what the upwardly mobile Nairobians have been yearning for. “Traditionally we cater for upper class citizens with small families. Our target market also covers the Diaspora people as long as they can meet our payment schedules. This particular project stands out due to its close proximity to social amenities like malls, schools and hospitals,” he says. The Taji Residence, off Lenana Road has the conventional three bedroom unit standing at 190 square meters/ 2050 square feet while the duplex stands at 220 square meters / 2400 square feet. Expansion plan Marketing manager, Abdirahim Mohamed feels their concept on duplexes is catching up because of its uniqueness. “I do not think Nairobi has exactly what we possess because we put a lot into detail. This is what a client who puts in top dollar wants. We use the best of certified consultants because we believe in the final product,” he says. In the near future, they plan to explore the Mombasa and Eldoret market based on viability and demand. On the downside,Mohamed notes that being a young and upcoming company, there have been challenges of trust. “This is a very sensitive industry and apart from people looking for value for money, trust is important. We still find challenges with people trusting our product, maybe because of past experiences with other companies. What has helped is basically referrals from our first two projects; Sidney Residence and The Orchards, which are sold out,” he adds. Another frustration for Deltar Properties has been issues to do with some buyers not quite knowing what they want.They are calling for stringent measures on rogue developers and reigning in on foreigners flooding the market with sub-standard projects.

Breath of fresh air into the housing market

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