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Real estate developer unveils Sh85bn project in Naivasha

longonot gate

Moody Awori, former Vice President, lays a foundation stone for Longonot Gate project in Naivasha on August 4, 2012, that will involve construction of over 1,500 holiday homes, 18-hole world class golf course and numerous social amenities. Photo/Courtesy

A real estate developer who had previously expressed interest in setting up a multibillion gated community in Naivasha has finally put to rest speculation on the cost of the project by announcing it during the official launch of the project over the weekend.

Longonot Gate, a premier gated development located at the foothills of Mt Longonot, has been valued at Sh85 billion making it the second most expensive real estate project currently under development in the tourist area.

“In our estimate, when we build all infrastructure, more than 1,500 homes and commercial sites for strategic investors, the value shall be about Sh85 billion. This shall create huge economic impact on Naivasha and Kenya,” said Lee Karuri, the chairman of Longonot Gate Development Limited.

The recently publicised Aberdare Hills, tops the list of high cost projects in Naivasha at Sh120 billion. The project is a resort city bordering Lake Elementaita.

The Longonot Gate premier development is set on 2,400 acres of land acquired from Kedong Ranch Limited and will have 1,500 fully serviced holiday homes and social amenities including a police post.

READ: Naivasha wins third exclusive homes project

On Saturday, Moody Awori, the chief guest at the event, laid the foundation stone signalling the commencement of work on the property.

Land owners who had already bought plots in phase one of the project have also been given permission to start construction which Ms Consolata Gituto, the project managing director says will take five years, while the golf course whose construction has also begun will be completed in three years.

Irish designer David Jones, a world renowned golf course designer is the man behind the 700 acre Longonot development greens.

Judging from the terrain, Mr Jones who designed the signature at Vipingo Ridge Golf Club greens at the Coast, said the land could make a suitable and easy to design course.

Prime locations outside the city are becoming favourite spots for real estate developers moving away from Nairobi to add a touch of glamour to other counties.

In what now seems to be the trend, developers have taken advantage of large tracts of land previously reserved for agriculture to set up multimillion gated communities targeting the growing middle class and youth who have a sense of style.

From the inaugural Thika greens and Vipingo Ridge, real estate developers have been working around the clock to construct high end developments based on international concepts.

Migaa Golf course, Sangare Hills and Home Resort in Nyeri, Mt Kenya Holiday Homes in Naro Moru, Great Rift Valley Lodge and Golf Resort and the recently publicised Buffalo Hills Leisure and Golf Village in Thika are new developments coming up away from the city built for a mix of leisure, lifestyle and tourism.

READ: New frontiers of real estate

"We want our clients to enjoy a state-of-art holiday, leisure, golf and conference resort and get value for their money. Home owners shall also create revenue through offering their homes for short stay guests," said Ms Gituto.

The remaining plots near the golf course are going for Sh4 million per half an acre land.