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Market News

Diaspora buyers invest in Sh4.5bn Kilimani homes

Mavji Varsani
Purple Haze director Mavji Varsani. PHOTO | DIANA NGILA 

Kenyans in the diaspora and affluent local executives have bought 86 units off-plan in the upcoming Sh4.5 billion Purple Haze residential development in Kilimani, Nairobi, the developer has said.

Edifice Limited project director Mavji Varsani said the 13-floor high-rise property targeting high-end clients looking for green developments near Nairobi’s downtown is now opting for cash only buyers as it nears June completion.

Some 50 units are set aside for renting corporate executives and expatriates.

Mr Varsani said Edifice raised equity as well as sourced property financing from Commercial Bank of Africa in a deal to facilitate mortgage purchases.

The property on two-and-a-half acres hosts 216 units of two-, three- and four-bedroom duplex apartments surrounded by Zen gardens-climbing plants next to water fountains.

It was designed by Singaporean WAVE Design Consultants Architect Amit Mody and 12 penthouses valued at Sh78 million, six units of four bedrooms next to another six units of three-bedroomed penthouses selling at Sh70 million.

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