Kenyan firm, Bestbase Investment, is putting up a mega housing development at the coast dabbed Sandy Shore Apartments. The proposed project is to be developed in Msumarini beach in Kikambala area of Kilifi County.
The development will be located on 2.23 hectares of beachfront property approximately 1.8 kilometers off Mombasa-Malindi Highway, 7.63 Km from Centum’s Vipingo Ridge. The area has a growing inventory of commercial and residential units and is placed about 28 kilometers from the Mombasa’s CBD.
In the plan, the developer proposes to put up 184 modern housing units of 1-bedrooms, 2-bedrooms, 3 bedrooms and 3-bedrooms+ including DSQs, covering 58 per cent of the entire project land.
The project design proposes modernized and scenic residential building and recreational facilities to accommodate and blend with the beach environment. The housing units will have various amenities including 160 car park spaces, swimming pools, infinity pool, basketball ground, football pitch and rock climbing.
The 184 units will be built in 6 separate thematic clusters with different numbers of floors and floor heights ranging from 15 metres to 33 metres. The clusters include including Pearl Oyster, Coral Ridge, Sea Shell, Star Fish, Turtle Clay and Seagull Nest.
Recreational facilities will include a club house and playgrounds, landscaped gardens, open theater and spa, gym & yoga, and an indoor arena.
Units in the development will be priced between Ksh. 6.75 million for 1-bedrooms and Ksh. 28 million for 4-bedrooms. To attract investors, the developer is projecting an annual rental yield of between 6.2 per cent in a conservative scenario and 18.9 per cent annual rental yield in an optimistic scenario across all property types.
The developer has already completed a show house for the project. On completion, the project is estimated to cost Ksh. 3.9 billion.