Construction of a multi-billionshilling gated community project in Kilimambogo, Thika, has resumed after the developer, Kamuthi Housing Co-operative Society, overcame financing hitches that almost crippled the ambitious plan.
Buffalo Hills and Golf Village, which is part of the firm’s 1,233-acre project, will cost about Sh4.5 billion.
An estimated Sh1.2 billion of the amount will cater for infrastructure development.
Officials said they had also obtained title deeds of the project’s plots, whose delay had discouraged members from fully paying up their dues, adding that they would register ownership documents within the next three weeks.
Work had stalled for nearly two years after hard financial times hit the firm following a decline in plot sales. This made it impossible for the firm to service loans and implement its plans.
Society treasurer Moses Ngotho said a resolution by members to pay additional funds for their plots had given the project a new lease of life.
“We have been able to resume key activities, which will help us achieve our mission to have a modern gated community. This has also restored our relationship with banks, which have supported other crucial obligations,” Mr Ngotho told Sunday Nation.
The society is constructing 16km of tarmacked roads within Buffalo Hills, with a solar powered perimeter fence already in place. Solar powered street lighting is also being installed while an extensive tree planting exercise will be conducted.
On completion, the project located in a region characterised by vast land dotted with acacia trees, will have close to 6,000 homes and commercial facilities built on plots measuring a quarter acre and a half acre within the golf village. There are eighth-acre plots outside it.
Chairman Bernard Maina said road works are 60 per cent done.
Electricity and water connection, and construction of a gatehouse, are complete. Setting up of a second dam is also under way.
The project will feature a ninehole golf course covering 108 acres; a clubhouse next to a man-made dam covering 9.5 acres within the golf village, as well as a swimming pool, game rooms, sauna, gym and spa, among other facilities.
To reduce the financial burden, the society through a members’ resolution agreed to dispose the course land to a strategic partner who, however, must retain the society’s concept.
Company secretary Eliud Njoroge said local and foreign investors have showed interest in acquiring the golf course and clubhouse.
He said the society will have the option of doing an outright sale to the best investor or partnering with them in its development.
“Development of the golf course and clubhouse, and improvement of the infrastructure by the society, will spur development by investors who might have been reluctant to develop their plots,” Mr Njoroge said.
According to the officials, ongoing construction of the Mangu-Komo Road that links Thika Superhighway to the proposed Greater Eastern Bypass has boosted access to the project.
The firm’s in-house sacco has also started lending money to members to develop their plots.