The investment that promises to change Kisumu’s Riat Hills

The Riat Hills sit oblivious of the interest it’s been attracting among wealthy individuals from the region and developers, from Nairobi who are moving in to explore the property market in Kisumu.

In the recent past, hordes of real estate agents could be seen walking clients through the stony, vast hills checking out the best views as they discussed the escalating cost of land in the area. Because of this increased interest in this picturesque part of Kisumu, the price of land has quadrupled because among those who have noticed its beauty are affluent personalities.

According Dev Karia, Director of Lake Estate Agency Ltd, an acre of land at Riat Hills went for less than Sh1.5million 10 years ago. He says that this has since changed with the same size of land selling for Sh2.5million three years ago. Currently, developers are getting the same at between Sh3.5million and Sh4.5million.

Kisumupropertykenya.com is also cognisant of what is happening at Riat Hills. The company writes in its website that “Riat, in its own right, has managed to pull powerful investors most of whom bought land in the area, which they later subdivided and sold as smaller parcels to make money. Multi-million housing projects are currently underway on the hill with a few modern homes at the hilltop being nothing less than outstanding.”

Riat Hills is for sure increasingly boasting of a new breed of neighbours – well-to-do individuals and real estate investors with a vision for affluent, urban living designs.

These include Swedish firm, Coromandele Investment Ltd and Home Afrika Ltd, among many others who haven’t started construction and are therefore little-known. Former Prime minister Raila Odinga is also among individuals who have put up impressive buildings at the Hills.

Mr Odinga has built a 10-bedroomed house with several conference rooms, multiple kitchens, expansive garden and offices. In total, the Riat Hills home has 74 rooms. The construction cost of the house is valued at Sh1billion.

Another new entrant in the property development in the area is the Swedish real estate developer, Coromandele Investment Ltd which is planning to put up luxury Swedish designed villas to be known as the Riat Hills Villas.

Coromandele plans to develop 30 villas on eight and a-half acres. The villas will be built using Swedish house styles developed by Coromandele Design, a subsidiary of the developing company.

The villas will have a flowing design with large windows that allow in lots light. The kitchen hob is also placed next to the window to capture the scenic view of the surrounding area including the lake below. The external walls will have stone cladding, cement fibre slats and textured paint to give it a textured brownish feel that blends with nature.

The cabinetry like other modern developments will be built using MDF and granite. The floor will be wooden to give warmth at all times since the area can be quite windy at times. The villa will have a roof top terrace with an external Jacuzzi.

The Riat Hills Villas will be four-bedroomed developments with enormous space. The Stockholm villa, which is the largest house, will measure 7, 000 sq. ft while Gothenburg villa, the smallest will be 4,6000 sq. ft. Currently, most high-end residential developments in Kisumu town do not get to 5,000 sq. ft. 

According to Fred Andersson, the chairman and chief executive Coromandele Investment Ltd, some of the construction material that are not available locally will be imported from Sweden. “But we are trying our best to see that we don’t import materials that are locally available. Our wish it to use what we already have here,” he explained.

Home Afrika, a listed real estate firm, is also planning on building a gated community in the same area. The firm has bought a 72-acre piece of land which it’s still selling to buyers wishing to build holiday homes. The company has also set aside for land for the construction of high-end homes for sale.

A quarter of an acre at the Lakeview Heights development is going for Sh2.5million.

As developers wait for the roads that traverse the Hills to be constructed by the county government, the area will for sure continue to attract deep-pocketed Kenyans to the vicinity. 

The population in the area is truly cosmopolitan making it an ideal location for holiday home with its strikingly scenic vistas. All that the country government needs to improve on in order raise the profile of the area and to attract more local and foreign investors to the area is the infrastructure.

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