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Market News

Fusion, Optiven ink Gatanga Road land deal

George Wachiuri
Optiven Group chief executive George Wachiuri. FILE PHOTO | NMG 

Private equity firm Fusion Capital has partnered with realtor Optiven Group to dispose of its 70 prime residential plots on Gatanga Road, Thika.

The deal for the plots comes a year after the two master-planned another 100-acre property that was demarcated into residential plots for sale to middleclass earners eyeing residences in gated community setups.

“Internal murram roads have been done and ready home designs prepared where each buyer will receive ownership documents upon purchase,” said Optiven Group chief executive George Wachiuri.

The residential development is within the larger Chania masterplan along Thika-Gatura road (Gatanga Road) that includes a commercial zone, picnic grounds and an IGCSE School.

Fusion chief executive Daniel Kamau said the partnership will allow Kenyans to buy the serviced land for future development.

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“We have about 25,000 mortgages in Kenya and as such, not many Kenyans will be able to buy ready properties. Kenyans will buy land, pay off the loan and source a fresh loan facility to build houses which saves up to 30 percent of what they would have spent buying a ready-made house,” he said.

Fusion Capital has operations in Rwanda, Kenya, Uganda and United Kingdom where it invests in private equity financing, real estate and money market operations.

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