Investing in Real Estate in Kenya and Road Construction
For a long time, the Eastern Bypass has been a house hold name in the Real Estate sector. Talks of its expansion have sparked an increase in the growth of the area in general.
The China Communication Construction Limited started expansion works on the Eastern Bypass in November 2021. This will make the road become a dual carriage way at a cost of sh. 12.5 billion. It is a 28km road stretch through busy centers such as;
- City cabanas
Two major roads that lead people with the city center set for expansion are;
- Northern Bypass
- Kangundo Road
This expansion is expected to reduce hugely the growing traffic jam experienced by motorists on the road that links busy Mombasa- Nairobi highway to Thika Superhighway. A proposed Kenyatta family-owned Northlands City will be part of the beneficiary in this expansion that will connect Eastern Bypass and Thika Superhighway.
Northlands city will be a mega urban development consisting of residential, industrial and commercial units which will accommodate an estimate 250,000 people. Accessibility will be made possible which is a vital key in attracting investors to the city. This is estimated to generate up to 30,000 vehicles per day onto the Eastern Bypass and 27,000 vehicles per day on to the Thika Superhighway.
Growth of infrastructure such as roads brings about benefits to an area more so economically and human capital wise. This also brings about a bigger impact in the Real Estate sector in that; expansion of the Eastern Bypass affects land prices and land value around both Ruiru and Kangundo road. These are some of the satellite towns in the Nairobi Metropolitan Area.
Eastern Bypass connects Thika Superhighway and Mombasa road with a group of many small residential and commercial estates in between. This expansion will come as a blessing to many who work in the city because they will be able to own affordable homes in satellite towns that are only few minutes away from the Central Business District, CBD. At the start of the expansion, best believe the prices of land and rent among other properties will automatically go up as everyone will be looking to invest in a property in towns along the Bypass.
Some of these towns include; Ruiru and Kangundo. Business opportunities in these two satellite towns will increase thus raising the cost of living of the people. Real Estate companies will also have an upper hand as the land value will appreciate drastically.
Land operates on the laws of demand and supply, hence, the higher the demand the higher the market value of the property and vice versa.
A good investor knows how to scout for prospective land/ property in prospective areas. Timing is always of key to them. As the Eastern Bypass expansions are still at the ground stage, this is the best time to invest in property along this area before the prices rise steeply.
As Will Rogers stated, ‘don’t wait to buy land, buy land and wait’.
Many people wonder how to process land title transfer once they have completed their plot purchase, well, at Denver Group Limited our plots have ready Title Deeds and transfer fees are inclusive within our price. Call 0701 730 267 to invest.