wazua Tue, Nov 19, 2024
Welcome Guest Search | Active Topics | Log In | Register

Real Estate in Kilimani /Ngong Road Area
Options
Previous Topic · Next Topic
new
#1 Posted : Sunday, May 26, 2013 9:27:03 PM
Rank: New-farer


Joined: 1/4/2013
Posts: 22
Hello Wazua,

I trust you are all well.

I wish to engage any wazuan who is sufficiently knowledgeable on matters Real Estate.
Lets hypothetically assume that one was interested in Property Development in kilimani or along Ngong Road ( especially Near Riara area), what are the current market rates for property in that area? with a budget of $2-3.5M , what would one get?



regards
NEW.
Dum vivimus, vivamus.
Back to top
 Report Abusive | Report SPAM | Edit by moderator: Monday, May 27, 2013 4:17 PM | Reason: sentence case
Fair_Car_Dealer
#2 Posted : Sunday, May 26, 2013 11:59:23 PM
Rank: Member


Joined: 10/13/2009
Posts: 25
Location: Nairobi
new wrote:
Hello Wazua,

I trust you are all well.

I wish to engage any wazuan who is sufficiently knowledgeable on matters Real Estate.
Lets hypothetically assume that one was interested in Property Development in kilimani or along Ngong Road ( especially Near Riara area), what are the current market rates for property in that area? with a budget of $2-3.5M , what would one get?



regards
NEW.



2Bed = Ksh. 12M+

3Bed = Ksh. 15M+

With USD $2M - $3.5M, I wouldn't recommend buying land for property development in Kilimani or Ngong Road. Rather, I'd advise a Joint Venture with a land owner so that you can save the funds you would have used to buy the land and use them for construction instead (thereby avoiding borrowing funds from a local bank--assuming that is how you'd finance the project).

If you do insist on buying land (rather than doing a JV), your budget would get you about 1-2 acres, assuming you can find such a piece of land in one piece and available for sale as most attractive pieces have already been sold.

If you are interested in a JV, do let me know as I have a proposal of someone with land near Riara looking for a partner.
Back to top
 Report Abusive | Report SPAM
new
#3 Posted : Monday, May 27, 2013 9:58:17 AM
Rank: New-farer


Joined: 1/4/2013
Posts: 22
Fair_Car_Dealer wrote:
new wrote:
Hello Wazua,

I trust you are all well.

I wish to engage any wazuan who is sufficiently knowledgeable on matters Real Estate.
Lets hypothetically assume that one was interested in Property Development in kilimani or along Ngong Road ( especially Near Riara area), what are the current market rates for property in that area? with a budget of $2-3.5M , what would one get?



regards
NEW.



2Bed = Ksh. 12M+

3Bed = Ksh. 15M+

With USD $2M - $3.5M, I wouldn't recommend buying land for property development in Kilimani or Ngong Road. Rather, I'd advise a Joint Venture with a land owner so that you can save the funds you would have used to buy the land and use them for construction instead (thereby avoiding borrowing funds from a local bank--assuming that is how you'd finance the project).

If you do insist on buying land (rather than doing a JV), your budget would get you about 1-2 acres, assuming you can find such a piece of land in one piece and available for sale as most attractive pieces have already been sold.

If you are interested in a JV, do let me know as I have a proposal of someone with land near Riara looking for a partner.


Fair-car-Dealer,
Thank you for this prompt and informative response. Where exactly in Riara and what is the size? what's your email address ?
Dum vivimus, vivamus.
Back to top
 Report Abusive | Report SPAM
a4architect.com
#4 Posted : Monday, May 27, 2013 11:06:31 AM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@new. This will get you 1 acre considering such prices advertised here http://westlands.olx.co....0-5-acres-iid-511862839
After buying the land, you can then plan on developing depending on your preferences. Options include residentials for sale/rent, offices for sale/rent/hotel.school etc
As Iron Sharpens Iron, So one Man Sharpens Another.
Back to top
WWW BLOG
 Report Abusive | Report SPAM
Fair_Car_Dealer
#5 Posted : Monday, May 27, 2013 1:39:06 PM
Rank: Member


Joined: 10/13/2009
Posts: 25
Location: Nairobi
new wrote:

Fair-car-Dealer,
Thank you for this prompt and informative response. Where exactly in Riara and what is the size? what's your email address ?


petermutooni@yahoo.com
Back to top
 Report Abusive | Report SPAM
a4architect.com
#6 Posted : Monday, May 27, 2013 2:57:31 PM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@fair car dealer...good to meet you once again here. How did the Lavington JV proceed? Was the deal successful?
As Iron Sharpens Iron, So one Man Sharpens Another.
Back to top
WWW BLOG
 Report Abusive | Report SPAM
Users browsing this topic
Guest
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2024 Wazua.co.ke. All Rights Reserved.