Moses Muriithi Kihunii transformed a student loan into a real estate empire, founding Fanaka Real Estate in 2015 after leveraging savings from his Higher Education Loans Board (HELB) funds. The Kenyatta University engineering graduate began by investing earnings from an online writing account between 2012 and 2015, gradually acquiring land in prime Nairobi areas.
By 2016, his operations evolved into a full-scale real estate company, now based in Ruai township near Kangundo Road. Fanaka Real Estate manages a land portfolio exceeding Ksh100 billion, completing 12 major projects over three years. These developments focus on affordability, with plots subdivided into eighth and quarter-acre portions priced between Ksh400,000 and Ksh1 million.
"The dream of most people is to own a home," Muriithi said. "But traditional developers lacked plots ready for immediate development." The company addresses this by offering flexible payment terms, including 30% deposits with installment plans up to 12 months. Land values have surged significantly, with eighth-acre plots rising from Ksh100,000 in 2014 to Ksh800,000 today.
Fanaka's strategy includes infrastructure development, such as fencing, road construction, and utility connections, enabling buyers to start construction immediately. Projects like Kamulu Gardens and Palm Gardens Phase 2 highlight the company's focus on areas within 30-45 minutes of Nairobi's Central Business District. Muriithi aims to expand into property development within five years, aligning with Kenya's Big Four Agenda for affordable housing.
