Tatu City sells 90% of residential plots as demand for land increases
Demand for land in Nairobi and the surrounding counties of Kiambu, Kajiado and Machakos increased drastically since last year when Covid-19 struck, triggering a desire for people to look for safe dwellings to put up houses for their families.
The high appetite for property has since seen Tatu City, a 5,000-acre, mixed-use development with homes, schools, offices, a shopping district, medical clinics, nature areas, a sport & entertainment complex and manufacturing area sell 90 percent of its residential plots actualizing its firstgated community for the project that started in July 2015.
According to David Karimi, the head of sales at Tatu City, most of its residential units were sold last year and a sizable number of homeowners have already moved in while others continue to build.
Demand for land in a conducive environment safe for family setup, he said, has continued to rise with many Kenyans seeking to build homes in the outskirts of Nairobi town.
He said that Tatu City has been selling in excess of 10 residential units sold every month courtesy of a good infrastructure that the developer continues to offer to its clients.
Speaking during an open day at the project, Karimi decried that most potential home owners have been duped by unscrupulous developers that they would get serviced plots only to land on elephant projects.
To give the real estate market confidence, Karimi urged developers to start construction of their projects instead of sticking to off plan developments which most investors have been dreading.Since last year, Karimi noted that property value increased by 10 percent not only due to growing demand but also accelerated infrastructural growth at Tatu City.
“With this kind of growth, we anticipate that the land value would increase by 15 percent this year,” he said.
He said that investors at Tatu City have been getting serviced plots, utility connection points among them power, water, sewer storm water drainage and tarmac roads with clear architectural designs guidelines protecting their entire property.
Already, 400 housing units are being constructed by Unity Homes which is doing 1100 units with a100 buyers already having moved in.Lifestyle Properties which is building 1400 units has already sold 300 units and 100 buyers have moved in.85 percent of Tatu City’s industrial park has already been sold with 60 companies already having purchased land.
“14 have already moved in and 30 are in the approval stage,” said Karimi.
"We welcome all investors and home owners to come and see. The project is no longer a concept but a reality,” he added.