Edenville set for phase two of its multi-billion housing estate
Posted Sunday, August 5 2012 at 15:47
Development of phase two of the multi-billion-shilling Edenville Estate, yet another housing project on Kiambu coffee farmland, is set to begin next month if National Environment Management Authority (Nema) gives the nod.
The project that comprises 454 maisonette units will be constructed at a total cost of about Sh2 billion.
Paramount Chief Estate Limited, the developers, indicate that the houses will include two, three or four-bed-roomed units for sale at between Sh10.5 and Sh12.5 million.
“Construction of the maisonette units and associated infrastructure will take an approximated 20 to 24 months,” reads part of the Environmental Impact Assessment report submitted to Nema.
Hass Consult, the property management company selling the units, expects construction on the 42 acres to start next month.
Edenville Estate is located about two kilometres from Kiambu Town in an area referred to as Turitu Farm. The project area is partially covered by coffee bushes and maize crop.
This is the second phase in the multibillion-shilling housing project and comes soon after the completion of Phase One, which consists of 345 housing units, most of them villas.
The villas cost between Sh14.5 million and Sh18.5 million each and a Hass Consult report indicates they were sold out in a record ten months.
“We expect that the response to this second phase will be even better than the first one since the houses are much cheaper,” said Farhana Hassanali-Hashmani, Hass Consult project development manager.
“Already, 100 units have been booked and we expect that this tempo will pick once the actual construction work begins next month,” Ms Hassanali-Hashmani said.
Plans are already in place to build a third phase of housing units on a 36.5 acre piece land.
The total project land spans 149.5 acres. Nairobi’s real estate boom has lasted the past five years as the economy grew creating a newly rich class of homebuyers with fresh tastes and preferences who are dictating the shape of activity in the market.
Besides Edenville Estate, other multi-billion-shilling estates in the area include the Sh240 billion Tatu City inRuiru, the Sh30 billion Fourways Junction Estate along Kiambu Road and Migaa Estate in Kiambu.