This archive report was first published on 22 October 2019.
With the cost of living in Kenya on the rise, owning a house has become a necessity for most people, leading to a high demand for plots in Nairobi and other major towns.
However, finding affordable land in Nairobi can be a daunting task, with many investors losing their money in the process.
But there are some real estate companies that are offering affordable plots in Nairobi, and we take a look at five of them.
1. Fanaka Real Estate Ltd ¶
Established in early 2016, Fanaka Real Estate Ltd has completed over 22 projects, offering genuine and affordable land near Nairobi CBD at prices ranging from Ksh300,000 to Ksh1.2 million.
One of the company's unique selling points is its flexible installment plan of up to 12 months, with the initial deposit being only 30% of the plot's price.
According to the company's website, Fanaka Real Estate sells land in areas such as Kamulu town (30km from Nairobi CBD) at 799,000 and Malaa town (45 minutes drive from Nairobi CBD) at just Ksh399,000 for a 50×100 plot.
2. Diamond Property Merchants ¶
Diamond Property Merchants brands itself as a leading property investment solutions provider in Kenya, with a goal of delivering the best investment solutions to its clients.
The company claims to have created wealth for a number of businesses and individuals over the years, and its plots guarantee investors maximum benefits as it puts in the research to make sure they realize their home ownership dreams.
3. Airwave Properties ¶
Started in 2014, Airwave Holdings Ltd provides affordable land and housing solutions, selling plots and land all over the country.
The company sources land near upcoming government and private sector projects to ensure that the value of land appreciates within a short time, and offers flexible payment terms, allowing down payments, followed by installments.
4. Username Properties ¶
As one of the active real estate companies in Kenya, Username offers a flexible installment payment plan of up to 12 months, and identifies places with high potential for growth near upcoming infrastructural developments such as highways, bypasses, railways, airports, and cities.
According to its CEO, Reuben Kimani, Username's properties are value-added, with a perimeter fence, estate gate, internal access roads graded, borehole drilled, and electricity installed, making the property ready for immediate development.
5. Optiven Group ¶
Optiven Group is a leading brand in the real estate sector, with its main objective being to empower property investors and transform society.
Steered by its founder and CEO, Mr George Wachiuri, Optiven Group's flagship product is Transformed Plots, which are particularly enhanced to suit immediate residential settlement, commercial purposes, and futuristic capital gain.
According to the company, Optiven Group aims at creating over 30,000 direct employees by the year 2030, and was recently named among companies that will inspire Africa in 2019 by the London Stock Exchange, and scooped the best employer in East Africa 2019 by East Africa Best Employer Brand Awards.
