CIC Group has today kicked off the sale of its 50-acre land located in Kiambu. The land, which is part of a 200-acre property neighboring Tatu city, has been subdivided into quarter size plots for easier purchase with prices starting from KES 7 million. The residential plots which will be sold to homeowners will be set in courts within the larger gated community as prescribed by the approved proposal submitted to the county government.
CIC Group Chief Executive Officer Mr. Patrick Nyaga said that in a high demand market for affordable residential developments, Ushirika Gardens presents a ripe investment opportunity for buyers who are seeking prime residential property.
“The last few years have seen rapid growth of residential building development across urban and semi urban areas. This has been elevated by demand for mixed use developments where people can both work and play. Designed as a gated community and located near the Nairobi CBD, Ushirika Gardens is well positioned for people who want customized homes in a serene and well developed area.’’
“Based on increased demand for customized, accessible and mixed-use residential property, we look forward to high uptake of these land units. We have also made it easier for buyers to pay for the plots either in cash or through bank financing of which Co-operative bank is one of the financiers. In addition, aligned to CIC’s strategic growth plans, this sale will also play a role in expanding CIC’s operational and financial strength, which is essential for our long-term growth and profitability. Our shareholders can rest assured that this move is guided by our strategic plans,’’ said Mr. Nyaga.
The sale of the land comes after CIC received all regulatory and shareholder approvals required for the sale. Cash buyers will be granted access to their plots for development on full payment for their plots. CIC has partnered with Cooperative Bank to provide financing and the buyers will be granted access to their plots once their loans are approved, and upon execution of the necessary documentation.
