Western Kenya receives property investment

17/06/2011 - Kenya property & investment news Posted by Neil King
Western Kenya receives property investment

Western Kenya is to benefit from a substantial investment in property development.A group of investors has revealed a Sh40 billion leisure and property development plan for Eldoret town.The move gives the region a hint of the real estate boom that has mainly been enjoyed by the Kenyan capital so far.Najib Balala, tourism minister of Kenya, officially launched the real estate plan, which is also to feature a wildlife sanctuary, Business Daily Africa reported.Joshua Chepkwony, chairman of the company behind the project Sergoit Holdings, commented: "Our intention is to develop a concept that offers Rift Valley residents and Kenyans at large to own property in a secure, gated and well-serviced environment."The goal is to ultimately create a well-planned, self-contained Satellite City of Eldoret."Included in the development are plans for more than 2,000 villas, three golf courses, a five-star hotel, a conference centre, private hospital and a shopping mall.An airstrip is also set to be built on the 3,100 acre piece of land.