By SILAS APOLLO (Updated Thursday, January 7th, 2016) – Nation – Read original article here.
Property developers in Kisumu have promised a robust year of developments, with focus on the provision of alternative and affordable housing, as well as office space.
Two such projects will be launched in April. The projects, which will be undertaken by AMS Properties, involve the construction of offices and rental houses in the lakeside town.
The 10-floor office apartment, to be known as Fortis Tower, will have space for banking halls, a customer care centre, showrooms, and travel agencies, among businesses.
Ms Nishma Karia of Lake Estate Agency, the sole agents of AMS Properties, told DN2 that the tower will comprise 72,000 square feet of rentable, high-end work space as well as 15,000 square feet of retail space.
“What we intend to achieve is to provide alternative office space for businesses and companies seeking to set up shop in the area, something that has not been achieved effectively in the past,” she said.
Already, Mega properties, the proprietors of Mega City and Mega Plaza malls in Kisumu, are renovating the buildings to create additional office space.
In the expansion plan, Mega Properties also seek to increase space for commercial activities, mainly retail, information and communication bureaus, banking, insurance, health and beauty and hospitality.
Meanwhile, AMS Property’s other project, known as One Westpark, will comprise two towers, each made up of 69 apartments.
Other projects expected to shape in the region’s property market are a Sh1.3billion property by Coromandele Group; Ruby Estate, a Sh2 billion housing unit by Home Afrika; as well as a project on 60-acres in Milimani West by Kisumu Real Estate; work on all these projects began last year.
Ruby Estate, set for completion mid this year, will consist of three-bedroom town houses, each sitting on a 0.25-hectare plot, as well as three-bedroom apartments.
White Gold proprietor Shafiq Zavery said the project, comprising high-end houses, targets the middle class.
“Our aim is to create value for money while at the same time focusing on affordability. Other amenities that will come together with the houses include a club house and a swimming pool, a kindergarten as well as a shopping mall and an equipped gym,” said Mr Zavery.
The Sh1.3billion Coromandele property, whose construction began seven months ago, and which seeks to create a Muthaiga in Kisumu, will comprise 30 villas costing between Sh38.5million and Sh48.5million each, depending on the design.
Mr Fred Andersson, chairman of the Coromandele Group, told DN2 that the Sh1.3billion property is aimed at transforming Kisumu’s housing status into a more urbane yet alluring middle class one.
Mr Andersson, the units will each have four en suite bedrooms, walk-in in closets, an expansive roof terrace with an external Jacuzzi, two-room servant quarters and free-flowing open plan in the common areas.
“The beauty of Kisumu, and especially the first rim of the Riat Hills, inspired me to create a new concept of living for Kisumu,” he said.
Meanwhile, West, a project by Kisumu Real Estate’s Milimani West project, which also targets the middle class, is also set to shape the town’s property landscape.
The project, whose groundbreaking was done mid-last year, will sit on a 60-acre parcel land and will include bungalows and apartments.
The Home Afrika group project currently under construction at Riat Hills is being done on a purchase-and-build basis, where prospective tenants will be required to build their own homes, besides those developed and sold by the Home Afrika group.
Lake View Heights will join the league of upcoming high-end real estate units at the foot of the expansive hill. It will include amenities such as retail space, offices, light industries, a hotel and conference area, a school and a police post.
The development will comprise 140 pieces of 0.25acres land, which will be sold for Sh2 million each.