According to Charles Kibiru, CEO, Thika Greens Ltd., plot buyers have already moved to occupy their plots – with 15 people currently building and 30 others fencing their plots in readiness.
“The completion of infrastructure has resulted in a flurry of activities as land owners move swiftly to occupy their plots. Twenty-two houses are currently under construction and we expect that 500 constructions will be on going by end of 2013,” Mr Kibiru said.
Sales for Thika Greens Golf Estate began in the second quarter of 2009, after which the developer began putting in place the necessary infrastructure and amenities on site.
Phase one of the development has been fully sold out with sales of phase two and three currently ongoing.
Early buyers of the eighth-acre plots at the planned estate are enjoying ‘early bird’ advantage, with values of the location having risen to Sh1.2 million from Sh850,000.
The first phase of the project is the development of a 960 home estate, Thika Greens Country Homes, in which all housing construction will be under a controlled development plan. The entire project will see three estates developed on about 1,700 acres.
An 18-hole championship golf course set on 307 acres has been shaped, and the first nine holes and club house are expected to be ready by March.
“The first 9 holes will be fully planted by end year (2012) and will be ready for play by March 2013,” said Mr Kibiru.
The developer is also building 70 golf villas on phase two and has already completed two show houses.
Thika Greens Golf Estate is estimated to cost Sh55 billion in investments by both the master developer and home builders.
Phase three of the project is expected to be completed by end of 2016.
EDITOR'S NOTE: Read the latest issue of Construction Business Review. Flip through the pages of the paper real-time or download a copy to read offline. Sign up for a FREE subscription to get the paper delivered to your inbox every month.