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Easy loans drive investments in real estate to satellite towns
Real estate enterprises and individual developers have spread their wings to satellite towns of Nairobi as banks step up mortgage financing. Photo/JAMES NJUGUNA
For several weeks now, a giant billboard erected by Fidelity Bank at the Nairobi railway station intersection has been attracting the attention of thousands of people who use the busy Uhuru Highway each day, announcing easy loans for construction.
Today, such commercial bank offers targeting salaried workers are commonplace and have been credited with extending Nairobi’s real estate boom to the city’s satellite towns.