Got excited about the Technology city and decided to go on the ground to do some research.
Malili ranch was subdivided amongst the members in chunks of 7.8acres. Govt bought 5,000acres from some members.
The remaining ones are being sold by members and middlemen. Some members have retained theirs and are settling on them.
Agricultural plots are 7.8acres in size in Malili Ranch and the prices range from 4m to 1.5m for the 7.8acres depending on the location of the plots in relation to the Government one. If you join 3-7 guys, this be easily affordable.
The commercial plots are in the middle measuring 1/8 of an acre. They are going for between 1.5m and 250,000.00 depending on the proximity to mombasa road. The Mombasa road cuts right across these plots. Was lucky to get a copy of the survey map.
Malili is 70km from Nairobi and 25km from Machakos junction. If u get connected to a member, you can buy a clean plot / shamba. Brokers ni 50/50. I would advise you go their office right on the hills in the ranch and get the officials to link you to a member who is selling.
No title deeds yet. Allotment papers.
Some area have red soil and very nice topology.
Having said this, i tried hard to analyse the business potential of these plots/farms.
1. In terms of the ICT city, this is a long short cause i dont see where the govt will get the money to develop the city. It would have been easier for them to invite the big tech companies and offer them land for free for them to put their stuff. Govt then concentrates of infrastructure.
The other day Ndemo says they want to start off from Sameer business park ("merali's place"). Does this make sense to pay 1b in rent after having bought land for the same.
2. There is alot of haphazard constructions that have started kenyan style on the commercial plots. This will chase away the big tech companies. I see another Salgaa, Kikopey, mulolongo etc. Enchroachment is in high gear.
3.What do you do with your commercial plot. If you develop shops, almost everyone is doing this and so many of them will have no tenants,low business, low rents. These plots are very very many.
4.Subdivide and sell the 7.8, Almost everyone who has bought is thinking on those lines. Over-supply , prices remain depressed for a long time. These are also very very many.
5. Farming. This is not cut out for me.
6. Put up flats, who will the tenants be ?
Other members, whats your take on this malili thing. I want to try Konza which is adjacent, anyone who is selling?.