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Off plan developments in nairobi
mpanzi
#1 Posted : Wednesday, January 06, 2010 6:12:31 PM
Rank: New-farer


Joined: 1/6/2010
Posts: 26
Am looking to invest some money into the off plan property market. Any recommendation of reliable firms will be highly appreciated.
a4architect.com
#2 Posted : Wednesday, January 06, 2010 6:52:15 PM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Check with Bora Capital. There is such an opportunity at mombasa on a luxurious beach hotel project.
As Iron Sharpens Iron, So one Man Sharpens Another.
Phaoro
#3 Posted : Wednesday, January 06, 2010 7:15:33 PM
Rank: Member


Joined: 10/6/2009
Posts: 164
@ Mpanzi and a4archtect

How do these plans work, are they similar to Timeshares? Anyone care to explain.
mpanzi
#4 Posted : Wednesday, January 06, 2010 7:28:51 PM
Rank: New-farer


Joined: 1/6/2010
Posts: 26
You basically buy a property that has not been built. ie Buy into the plan to build. Usually a down payment is required upfront and full payment @ completion of construction.
Phaoro
#5 Posted : Wednesday, January 06, 2010 7:48:48 PM
Rank: Member


Joined: 10/6/2009
Posts: 164
@ mpanzi

Ok Gotcha!

Zakumi
#6 Posted : Wednesday, January 06, 2010 8:09:20 PM
Rank: Member


Joined: 11/16/2009
Posts: 152
Nt that it matters,bt does sm1 in wazua have a stake in bora capital?jst checkin.

Movin on kpa is puttin up flats in south c nxt 2belle vue & peeps r already buying the space/plans.

Personally im nt a big fan of this arrangement.if nt properly appraised it cn lead 2financial massacre on the part of the buyer &probably set off a submarket crisis
The Strong Do What They Want,The Weak Do What They Must!
VituVingiSana
#7 Posted : Thursday, January 07, 2010 1:10:06 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
How reliable (or trustworthy) is Bora Capital?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
a4architect.com
#8 Posted : Thursday, January 07, 2010 6:56:25 AM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Bora have a heavy presence in the media-thir MD is always on TV- i have had several meetings with him at their office regarding architectural designs for some of their projects. Regarding reliability/trustworthyness on the off plan projects, you might have to contact them and check what structures they have to ensure you get your profits.
As Iron Sharpens Iron, So one Man Sharpens Another.
VituVingiSana
#9 Posted : Thursday, January 07, 2010 3:05:18 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
Many people are on TV & media... I like the guys who do good work without their face in the media... often all hype!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mpanzi
#10 Posted : Monday, January 11, 2010 1:22:52 PM
Rank: New-farer


Joined: 1/6/2010
Posts: 26
Looked up Bora Capital. site under construction. Will ask around and see what I get. Are there any others on people's minds.
Indeed there's a risk in this kind of property purchase - Due diligence | research is key to making it work.
a4architect.com
#11 Posted : Wednesday, January 13, 2010 4:07:01 AM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
in yesterday's nation newspaper-tuesday 12th there was an advert at the classified section for sale of hotel rooms in mombasa-
As Iron Sharpens Iron, So one Man Sharpens Another.
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