Athi River, The New Sanctuary For Investors

By Jane Muia / Published August 3, 2022 | 4:42 pm




KEY POINTS

Some real estate projects in the town include Gateway Garden, Safaricom Staff Pension Scheme’s Crystal Rivers Mall and Gated Community that sits on 25 acres, and the Athi River Green Park Estate by developer Superior Homes.


investors

Investing your money is the most reliable way to build your wealth over time. In Kenya, the real estate sector is becoming one of the most promoted investments, especially in areas surrounding the city. Every day people are buying properties and construction projects are being witnessed nearly everywhere, which could be a result of the increasing population, especially in the major towns.

It’s a loose Saturday or Sunday and you decide to break the monotony. you take a tour around the outskirts of Nairobi and decide to check out a town called Athi river in Machakos county along Mombasa road. Welcome to Athi river the Romeo of home developers. The industrial town has over the years witnessed a rapid development of middle-income housing.

It hosts many villas and detached maisonette houses spread over large plots of land for both sale and rental. The area is increasing appetite for investors with some good money to build fancy-looking estates that have gardens clubhouses, and gyms similar to those in leafy suburbs.

Those who knew Athi river earlier will tell you that the town was just a plain rocky field with so many acacia trees and a lot of thorny shrubs. Moving around you could spot some wild animals like zebras grazing on the idle dusty field and the magnificent Lukenya hill. Things have changed and the town has now adopted a new face. So many eye-catching sceneries are the new definition of the Athi river also known as Mavoko.

According to Cytonn Investment, the rapid growth of the town has been triggered by various factors including improved infrastructural development with the Standard Gauge Railway (SGR) train station being based in the town.

The town also hosts the Export processing zone (EPZ) and several factories in the construction industries including Mabati rolling mills, Bamburi cement, Mombasa cement, blue triangle cement, Doshi steel, Kapa Oil refineries, and ARM cement, among others.

The area is also barely one hour’s drive from the city’s Central Business District (CBD) attracting many city workers seeking classy affordable houses.

Some real estate projects in the town include Gateway Garden, Safaricom Staff Pension Scheme’s Crystal Rivers Mall and Gated Community that sits on 25 acres, and the Athi River Green Park Estate by developer Superior Homes.

Others include the Greatwall Gardens by a Chinese firm called Erdemann properties.

The construction of a 20 billion shillings Stoni Athi Waterfront City in the area is a recent project that was announced by the government in December last year. The project is targeting low, middle, and high-income earners. The project aims at constructing 10,500 units with 5,000 units costing from 1 million to 3 million shillings per unit.

The other 5,500 units are targeting middle and upper-income households, with houses going for between 2 million shillings and 8 million shillings.

According to a 2020 report by Cytonn investment, Athi river was the second best-performed residential area in Kenya. it registered a 6.7 percent returns to investors, after Nairobi’s Langa’ata which registered 6.8 percent.

In July last year, a report by Cytonn Investment named Athi River the second best area with a high return for land investments. Land holdings in the area appreciated at 8.7 percent over the last 12 months.

Athi River is one of the cheapest city neighbors for home ownership with an acre of land averaging just 4.2 million shillings.






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