Realtor Enkavilla Properties will put up a Sh1.7 billion gated estate in Isinya to host 290 families while reserving space for a planned privately-owned luxury resort.
Regulatory filings indicate Enka Gardens Isinya is to be built by the realtor’s subsidiary Enka Engineering based on a buy-and-build model for 220 land owners set to cost Sh1.2 billion and on a develop-and-sell model for 70 houses worth Sh500 million.
The develop-and-sell units will comprise 30 units with four bedrooms each, 15 bungalows and 25 maisonettes with three bedrooms each that are set for completion within the next 24 months.
Enkavilla managing director Meshack Muhoho said funds for the project’s development will be sourced internally and from presale income.
“We mooted the develop-and-build to cater for cash and mortgage buyers who would wish to buy readily built houses that have own title deeds,” he said.
Mr Muhoho said the master-planned 70-acre plot will in its second phase see an out-of-town luxury resort built on a 25-acre parcel of land that has been designed for the project.