MOMBASA RD | Sucasa @ Mombasa Road | U/C

Netlink,thanks!you know this project will open up Mavoko,next to the project is the 30,000 units of nssf housing project which was to start last year but it is onhold because of the tender process which was given to China Jiangxi,it's good the project has kicked off because there was a project i wantd to start around that place which means there will be market.

ok people.
what the hell does one need to have to approach a bank to get a loan to construct a residential estate???

Primezz,to me taking a loan in kenya is punitive,the intrest rate are too high and you may spend upto 10years repaying,The way to go is to have enough capital with you and if you look at an residential estate,to construct like an apartment a very good apartments,you may need like 50million onwards,like where sucasa is located,1/8 of land is 2.5million and now these project has kicked off and when the nssf starts it will go upto 10million or more,a loan is not the best way to me.just saying

thats true. but am looking at if the property wont repay the loan, then the bank can reposes it and i wud have gone no loss since it was not cash out of my own pocket.

lol,why do that and like everybody in nairobi are puting residential apartment like nobodies business and now the preferbricate tech(i hope i have spelled it well)is here,building will be cheap now,i believe that is what the chinese will do while building their economic zone at athi river

brian the real story said:

lol,why do that and like everybody in nairobi are puting residential apartment like nobodies business and now the preferbricate tech(i hope i have spelled it well)is here,building will be cheap now,i believe that is what the chinese will do while building their economic zone at athi river

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there's a massive housing shortage in kenya.
the market requires over 200,000 housing units each year, but a paltry 50,000 is supplied.

agreed primezz,but it is brought by high morgage lending rates,high cost of building and high prices on land,the Housing act needs to be reformed to suite common mwananchi,at least Housing Finance is observing how the common Kenyan on the ground is affected by providing friendly loans

brian the real story said:

agreed primezz,but it is brought by high morgage lending rates,high cost of building and high prices on land,the Housing act needs to be reformed to suite common mwananchi,at least Housing Finance is observing how the common Kenyan on the ground is affected by providing friendly loans

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ok let's use the scenario whereby i already have the land. i own it.
then get an architect do the renders superbly, then i approach companies like shelter afrique instead of mainstream banks.
i already have location and target market and looks legit to recoup the invested cash. u think they would turn me down?

That is not a bad idea,infact i had thought of doing that but maybe in later years,am sure the companies don't give high loans rates like banks and good thing about them they give you advice on where to establish the estate,they make sure you have a clean title deed certified from the goverment,after constructing your project,they advertise it very well,also they can bring the project to events like the Home expo.

brian the real story said:

That is not a bad idea,infact i had thought of doing that but maybe in later years,am sure the companies don't give high loans rates like banks and good thing about them they give you advice on where to establish the estate,they make sure you have a clean title deed certified from the goverment,after constructing your project,they advertise it very well,also they can bring the project to events like the Home expo.

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hmmm i see.
let me dream with that:lol:

But another thing to note primezz,is the technology to be used by several companies,some are quite expensive but they are the best for sure

Dream big primezz:lol:maybe when you are ready,you can come we do an investment like Build a skyscraper or a city,well am dreaming of doing that:lol:

Maybe the first 200meter building before the NSSF covention centre,it can happen

once u have land, you can do anything u wanna do on it, pretty much.
land is a factor of production and also capital and a genesis for investment at the same time.

I would not dream of taking a loan unless its an absolute necessity. Am almost done constructing apartments...I had some land that lay dormant for a few years, saved up some cash, including tax returns and started construction of a small apartment building. Did 50 50 with my mom and now its almost complete. Sometimes you have to start small and go from there

NIce investment sweetmama,is it in kenya or somewhere in states?

brian the real story said:

NIce investment sweetmama,is it in kenya or somewhere in states?

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In Kenya....gotta invest in my country