According to Mr Joshua Chepkwony, the chairman of Sergoit Holdings Limited – the firm behind the project, the resort will be built in four phases with each phase taking a year to complete. The company has set 2016 as the project’s date of completion.
“Each of the four phases will cost about Sh10 billion and we expect to finish the first phase in a year’s time,” said Mr Chepkwony, who is also the chairman of Jamii Telecoms.
Mr Chepkwony said his firm was in talks with the Cooperative Bank and Kenya Commercial Bank to fund individuals seeking to invest in the property. He added that the development will be co-owned by directors of Sergoit Holdings and private investors in the ratio of 52:48.
The resort, said Mr Chepkwony, is a hybrid of several ideas borrowed from Tatu City, Thika Greens and Migaa Golf Couse in Kiambu.
The first phase of the project will involve putting up 626 villas on a 400-acre piece of land close by the Sergoit Hill.
The second phase will involve the construction of an airstrip alongside an 18-hole golf course, and a golf estate with luxury villas on varying plot sizes that will be sold upon completion.
A five-star hotel with modern amenities and services will be built in the third phase of the project. The final phase, anticipated to be finished by 2016, will involve the construction of retirement homes.
Sergoit Golf Resort will be based around nature and green theme, with special emphasis on environmental sustainability.