Real estate investors eye Meru's growing middle class

An artistic impression of the Meru Greenwood Park, which comprises a shopping mall, apartments and an office block and is to be built on land now occupied by the Pig and Whistle hotel, the oldest hotel in Meru Town. The hotel will be demolished to pave the way for the county’s first shopping mall. PHOTO | COURTESY 

In Summary

• The property venture called Kithoka Paradise estimated to cost Sh300 million will sit on 25 acres of land.
• Kenya Investment Authority Managing Director Moses Ikiara asked investors to take a participatory approach when intending to initiate big development projects in any community.

By KENNEDY KIMANTHI
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Investors in Meru County plan to put up high-end residential buildings to cater for the growing middle class.

Players in the construction sector on Friday revealed that the hitherto quiet part of Meru Town is an investment frontier where investors can put up the amenities to support the huge transformation.

Speaking at the Meru Investment Conference at Kenya Methodist University on Friday, Ajogi East Africa Estates Ltd Managing Director Mwenda Murerwa said the firm is planning to put up a housing project in Kithoka, on the outskirts of Meru Town.

KITHOKA PARADISE

The property venture, called Kithoka Paradise, is estimated to cost Sh300 million and will sit on 25 acres of land.

“Due to the growth in population, there is need to move out of town. We are still in the initial stages of planning the construction but a perimeter wall to secure the property is already put up,” Mr Murerwa said.

He said the building will have a fibre-optic connection, a solar-powered common lighting system, 24-hour CCTV surveillance, secure parking, a shopping centre, a kindergarten and a splendid view of the Lower Imenti Forest.

Kenya Investment Authority Managing Director Moses Ikiara asked investors to take a participatory approach when intending to initiate big development projects in any community.

He said the unplanned land use changes entailing development projects might eventually fail to achieve their goals if the communities are not involved in their planning.

“It is important to consult the community as they are key players in any planning of investments. You do not want a situation similar to that of (the) Kinangop (wind power project), which is facing hurdles as it is being opposed by locals,” he said.