Demand for land in Ngong on the rise due to continued investment in infrastructural development

Demand for land in Ngong on the rise due to continued investment in infrastructural development

By Reuben Kimani

In August, the Ngong-Ewaso Kedong-Suswa road was launched in Kimuka Shopping Center and is set for an upgrade to Bitumen Standard. The 70 Kilometer road has an allocation of 4 Billion and has a working timeline of 24 months. Additionally, the dualling of Ngong Road phase 1 and launch of Phase 2 in March will gradually increase the convenience of accessing Ngong Town from Nairobi CBD. These infrastructural developments are causing an increase in the prices of land in this area that offers a serene environment with the convenience of urban lifestyle.

In Summary

  • Ngong town closed 2017 at an average price of Kshs.18.9m an acre.
  • Investors are preferring to invest in Ngong because of the easier availability of building materials from the quarries.
  • It is advisable to invest in Ngong now because land is relatively affordable but once infrastructure is complete land will be unaffordable to many

In April, the County Land Prices Report indicated that Ngong town closed 2017 at an average of Kshs.18.9m an acre, up from Kshs.10.3m at the close of 2012, recording the highest growth in 2017, at 12.9 percent. This good news has drawn many investors to invest in this area whose growth is largely associated with the recession of the 1990s where people from diverse government institutions moved here when the government ceased providing housing for them. This saw the area experience an influx of people and the town earned the nickname “The Bedroom Town of Nairobi.” Ngong town has experienced growth and it now prides in having a mall, business arcades, residential flats, supermarkets, banks and schools and hospitals.

Ngong Hills has for a long time provided holiday destinations for Nairobians who come to this area for hiking away from the city’s noise, pollution and congestion. The hills provide an excellent view of Nairobi city. Investors in Ngong have the advantage of experiencing less or no electric outages due to establishment of a power substation such as Kimuka Substation and Ngong Hills Wind Power Station.

Investors are now preferring to invest in Ngong because they have an easier way of venturing into construction due to availability of building materials from quarries and also the existence of plenty of water from underground reservoirs. This makes it convenient and cheaper to venture into construction of a residential home or rental apartments.

The construction of the Southern bypass has eased transportation making Ngong easily accessible from Kikuyu, Ongata Rongai, Magadi and Nairobi. Security in the areas is also good owing to the presence of both administration police and armed forces bases in Ngong and this has also increased the confidence of investors who are looking into investing in this area.

In conclusion, all these factors coupled with infrastructural development will cause the prices of property in Ngong to increase further and those who invested in this area will soon reap the benefits. It is therefore advisable to invest in Ngong now before infrastructural growth is wholly achieved because properties are affordable but once development is fully achieved, land prices will skyrocket and become unaffordable to many.

The author is the CEO, Username Investment Ltd.

Related Posts

Compare

0

Enter your keyword