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Mae Ridge Runda project well under way

Development comprises 81 residential houses, of which 20 were completed in phase one.

Updated

Mae Ridge, Runda.
An impression of a 4 bedroom unit at Mae Ridge, Runda. PHOTO | FILE

Pan Africa Insurance Holdings is developing a Sh2 billion housing project in Nairobi’s Runda estate as the insurer seeks to increase its revenue.

The Mae Ridge Runda, which is being developed in two phases by the firm’s wholly owned subsidiary – Mae Properties Ltd., is situated just past the Lord Errol bridge near Village Market shopping mall. It comprises 81 residential houses, of which 20 were completed in phase one.

The development has four house designs offering 4 or 5 bedrooms, study, family/TV room and kitchen, with each unit comprising a double carport and two staff quarters.

According to the management of Pan Africa Insurance Holdings, the choice of Runda was informed by the fact that the area is a prime location with some of Kenya’s most expensive homes.

“Runda is a property hotspot. The area has strong rental yields and anticipated capital growth,” said a Pan Africa official.

The estate is associated with high net-worth individuals that the company is targeting for the rental units.

Each home sits on a half acre plot that comes with a title deed – unlike many other gated communities. The houses have been designed by Beglin Wood Architects and Triad Architects.

Mae Ridge Runda is expected to widen the insurer’s involvement in the property market. The NSE-listed company has been running a successful property business for decades.

Danson Kagai is a skilled architect with a degree from the University of Nairobi. He has a wealth of experience in covering mega projects in Kenya, and is passionate about the built environment.