They will build up to what floor?

If Erdeman was wise he could have built town houses/villas
Hizo zingeenda pap.Right now there is a glut for flats.
Greatwall phase one are now going for ksh.4m yet the first owners bought them for ksh.3mn in 2009 and early 2010.
Yaani wait for seven years to get a return of 33%.
Better investments are else where than buying erdeman property

Has anyone looked at the downside of this?

1.Why have they slashed prices from 6m and 7m to 3m and 3.5m suddenly. They say when the deal is too good think twice.
2. They seem to be having problems with their Kisumu project. I.e. LBDA is not paying them and coopbank is demanding their money. 2.5b and 500m interest so far. Could they be having cashflow issues and they're using this to raise funds for other uses?
3. Do they allocate you a unit in phase 1 or in ph2 or 3? the wait could be long
4. Since they insist on 100%payment upfront payment, what fall back do you have if they delay in delivering your unit

I remember a few years ago Greatwall Phase 1 also had some crazy discounts for cash buyers so personally I'm not too surprised by the discounted offer price. I was skeptical back then but seems the project completed successfully. However, the with the LBDA problems caution would be wise given the timing of the discount. The sales guy told me 1st floor units are over after middle class swarmed the site last week though it could be the normal sales guys lines. The point mentioned above about the alcohol factory is something to note. Having lived in the same area I can confirm some nights especially after rains there was a bad smell in the area. I suspect someone was dumping something(there is a river in the area near Mavuno).

Correct.