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Watamu resort sells on virtual reality network

VR technology
VR technology presented investors with a reality experience of the property on sale. FILE PHOTO | AFP 

A Nairobi-based marketing firm is using a virtual reality (VR) platform to sell part-ownership stakes in the Watamu-based 46-acre hotel property.

Speaking during the launch, Africa Resort International chief executive Ainsley Duncombe said using VR technology presented investors with a reality experience of the property on sale.

“We are targeting to bring investors together to buy any of the 150 cottages available at The One Watamu Bay at between Sh800,000 to Sh1 million. Buyers will enjoy returns based on unit sales as well as have a weeklong stay annually for the next seven years at no cost,’ he said.

The UK national with similar fractional ownership enterprises in Dubai and UK said fractional owners will leaseback units to the hotel operator who will hire out the units to incoming tourists at a fee with profits shared out amongst the owners.

“Fractional membership is typically used to describe shared ownership of a vacation or resort property by people in an arrangement which allocates usage rights based on time. The like-minded investors then agree on how to share the real estate,” he said.

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