R I R U T A G A R D E N S L T D i n p a r t n e r s h i p w i t h I B O U N T Y P r o p e r t y L T D RIRUTA GARDENS Changing Lifestyles Information Packet
Project Introduction Riruta Gardens is a contemporary mixed use real estate project located 3.4 kms from the Junction mall. 1500+ apartments and over 5,000 square meters of amenities Comprised of 8 storey towers and a single 12 storey tower, Riruta Gardens will Tower over her neighbours and will become the milestone for contemporary affordable housing in Nairobi. Modern life styles for today s middle and low income city dwellers Within a 10 km radius of Riruta Gardens are malls, movie theatre s, banks, retail outlets, places of worship, hospitals, schools, and more. Extremely high demand and occupancy rate. Credible Security company for security and training.
Option 1: Studio type Built up Area: 205 sq ft Special Features Import quality Kitchen & Wardrobes Fitted Kitchen - Countertop 2-burner, mini fridge, & microwave BUILT-IN! Imported Security Main Door ABS designer internal doors Import quality Sanitary ware Import quality Tiles Import quality Aluminium Windows Parking available for Purchase CASH SPREAD: 1.9M
Option 2: One Bedroom Cozy Built up Area: 227 sq ft Special Features Import quality Kitchen & Wardrobes Fitted Kitchen - Countertop 2-burner, mini fridge, & microwave BUILT-IN! Imported Security Main Door ABS designer internal doors Import quality Sanitary ware Import quality Tiles Import quality Aluminium Windows Parking available for Purchase CASH SPREAD: 2.25M
Option 3: One Bedroom Lux Built up Area: 323 sq ft Special Features Import quality Kitchen & Wardrobes Fitted Kitchen - Countertop 2-burner, mini fridge, & microwave BUILT-IN! Imported Security Main Door ABS designer internal doors Import quality Sanitary ware Import quality Tiles Import quality Aluminium Windows Private Balcony Parking available for Purchase CASH SPREAD: 3M
Option 4: Two Bedroom Cozy Built up Area: 323 sq ft Special Features Import quality Kitchen & Wardrobes Fitted Kitchen - Countertop 2-burner, mini fridge, & microwave BUILT-IN! Imported Security Main Door ABS designer internal doors Import quality Sanitary ware Import quality Tiles Import quality Aluminium Windows Private Balcony Parking available for Purchase CASH SPREAD: 3M
Option 5: Two Bedroom Sleek Built up Area: 410 sq ft Special Features Import quality Kitchen & Wardrobes Fitted Kitchen - Countertop 2-burner, mini fridge, & microwave BUILT-IN! Imported Security Main Door ABS designer internal doors Import quality Sanitary ware Import quality Tiles Import quality Aluminium Windows Parking available for Purchase CASH SPREAD: 4.2M
Option 6: Two Bedroom Lux Built up Area: 483 sq ft Special Features Import quality Kitchen & Wardrobes Fitted Kitchen - Countertop 2-burner, mini fridge, & microwave BUILT-IN! Closed Kitchen Concept Imported Security Main Door ABS designer internal doors Import quality Sanitary ware Import quality Tiles Import quality Aluminium Windows One Designated Parking CASH SPREAD: 4.5M
Option 7: Three Bedroom Built up Area: 652 sq ft Special Features Import quality Kitchen & Wardrobes Fitted Kitchen - Countertop 4-burner, 2 door fridge, & microwave BUILT-IN! Closed Kitchen Concept Imported Security Main Door ABS designer internal doors Import quality Sanitary ware Import quality Tiles Import quality Aluminium Windows Solar Water Heating One Designated Parking CASH SPREAD: 6.2M
Site Plan: Phase One B Block A Block
Site Plan: Phase One to Four
Blocks A & B Floorplan Block Amenities: Intercom to guardhouse 4 CCTV s 2 Passenger Elevators 1 Cargo Elevator 2 Stairways Trash Ducts per floor Common Back up Power Natural Air Ventilation
Amenities Offered: Access control entry (Card or Phone) Main security gate and post 9 ft high stone walls with electric fencing CCTV and patrol guards Fully fitted contemporary kitchens with granite worktops including a stove top, microwave, and fridge. Fitted wardrobes to all bedrooms. Modern stylish bathrooms with wall hung vanity units and ceramic tiling to walls and floors Aluminium windows, steel main doors and ABS interior doors Communal TV satellite system (subject to subscription) Living areas porcelain tiles High speed lifts (2 passenger & 1 cargo) Trash ducts per floor Events and Convention Hall (Phase 3) Basketball facility, Gym, Aerobics, Fitness and sauna (Phase 3) Community Recreation Centre with Children s playground (Phase 3) Swimming pool and heated baby pool (Phase 3) Snack bar and a rooftop family buffet restaurant (Phase 3) Daycare centre and study hall (Phase 3) Landscaped external amenity areas Intercom phone per floor to guardhouse
Apartment TypesDistribution Distribution STUDIO 1 BED Cozy 1 BED Lux 2 BED Cozy 2 BED Sleek 2 BED Lux 3 BED
Location Analysis Traffic conditions - Matatu station within 4 minutes walk Convenience - Easy access to Waiyaki Way, Southern Bypass and Ngong Road via Naivasha Road and Kikuyu Road. Adjacent to various government offices Riruta - 4th Phase has retail shopping, mart, cinema, library, medical centre. 4KM radius: Naivas Supermarket, Junction Shopping Mall, Valley Arcade, Braeburn & Rusinga Schools Development- Main neighborhood road is a new tarmac road, road reserve behind Spices restaurant, and sewer and drainage system upgrades. Leasing Demand- Population Density in Riruta and Kawangware Area is extremely high / Approximately 1.5 million residents.
Payment Options: CASH, CASH SPREAD! OR MORTGAGE! Cash, Spread, or Mortgage Option #1: Cash Purchase (30% deposit, 70% in 3 months.) Fitted Studio (205 sqft) @ Kes 1.7 million One Bedroom Cozy (227 sqft) @ Kes 2.05 million One Bedroom Lux (323 sqft) @ Kes 2.8 million Two Bedroom Cozy (323 sqft) @ Kes 2.8 million Two Bedroom Sleek (410 sqft) @ Kes 4.0 million Two Bedroom Lux (483 sqft) @ Kes 4.3 million Three Bedroom (652 soft) @ Kes 6..0 million R I RU TA G A R D E N S LTD- Option #2: Cash Spread (20% deposit, 80% over Construction period) Fitted Studio (205 sqft) @ Kes 1.9 million One Bedroom Cozy (227 sqft) @ Kes 2.25 million One Bedroom Lux (323 sqft) @ Kes 3.0 million Two Bedroom Cozy (323 sqft) @ Kes 3.0 million Two Bedroom Sleek (410 sqft) @ Kes 4.2 million Two Bedroom Lux (483 sqft) @ Kes 4.5 million Three Bedroom (652 soft) @ Kes 6.2 million Option #3: Mortgage (10% deposit, Balance on possession) Fitted Studio (205 sqft) @ Kes 2.1 million One Bedroom Cozy (227 sqft) @ Kes 2.45 million One Bedroom Lux (323 sqft) @ Kes 3.2 million Two Bedroom Cozy (323 sqft) @ Kes 3.2 million Two Bedroom Sleek (410 sqft) @ Kes 4.4 million Two Bedroom Lux (483 sqft) @ Kes 4.7 million Three Bedroom (652 soft) @ Kes 6.4 million
Rental Yields and Capital Growth Riruta Gardens Completion Date: September 16th, 2019 expected rental after completion: Kes 80/- per square foot Studio (205 sq ft x 80/-) 1 bed (227 sq ft x 80/-) 1 bed (323 sq ft x 80/-) 1.5 bed (323 sq ft x 80/-) 2 bed (410 sq ft x 80/-) 2 bed (483 sq ft x 80/-) 3 bed (652 sq ft x 80/-) 16,400/- per MONTH (9.37% - 11.58%) 18,160/- per MONTH (8.89% - 10.6%) 25,840/- per MONTH (9.69% - 11.07%) 25,840/- per MONTH (9.69% - 11.07%) 32,800/- per MONTH (8.95% - 9.84%) 38,640/- per MONTH (9.87% - 10.78%) 52,160/- per MONTH (9.78% - 10.43%) Capital Growth with inflation at 5% per annum.
World Bank: Kenya Economic Update Finally, while Kenya s growth has been robust, there are latent opportunities to accelerate growth to levels necessary to achieve Vision 2030. This report identifies some of these KENYA ECONOMIC UPDATE HOUSING Housing Unavailable and Unaffordable KENYA ECONOMIC UPDATE April 2017 / Edition No. 15 - WORLD BANK GROUP growth and job-creation opportunities as well as the need to address a critical social need by supporting the development of the housing market for lower income households in Kenya. On the demand side, a key constraint to housing is finance. The report addresses policy measures that can be taken to alleviate the housing finance problem, including those that have worked well in other middle income countries. Diarietou Gaye / Country Director for Kenya / World Bank Unavailable and Unaffordable
Kenya s Economy (KNBS) Table 1(b): Kenya Inflation rate P«*d 2016 Lower Income Nairobi Middle Income Income Combined Rest of Urban Areas Kenya CPI January 766 591 544 752 816 778 February 695 524 551 6.53 7.47 709 tarcf) 654 488 551 613 667 645 Afri 5.57 452 576 555 522 557 May 605 4.06 502 5.58 461 500 June 7.15 348 500 658 546 580 July 754 356 396 633 644 639 Global economic growth is projected to improve from 3.1% in 2016 to 3.5% in 2017 and 3.6% in 2018 (IMF World Economic Outlook April 2017) Key drivers for real estate High economic growth rates High population growth rates Improved income levels Improvements in infrastructure August 7.14 360 335 654 627 626 September 7.03 362 374 6.17 645 634 October 7.18 373 393 632 657 647 November 702 4.13 458 6.32 692 668 December 2017 6.34 2.16 442 557 701 635 January 757 417 406 649 733 699 February 961 597 472 881 919 904 Marc*i 11.16 656 490 996 1050 1028 Apr! 1234 786 391 11.10 1173 1148 May 12.14 7.76 382 10.93 1251 11.70 June 8.97 5.97 353 8.15 992 921 July 7/41 548 296 686 788 747 August 851 5.71 249 756 837 804 September 781 556 112 7.14 700 706 Kenya s Economic Growth @ 5.8% in 2016 GDP per capita: USD $ 1,455.36 (World Bank 2016) Gross Domestic Product: USD $70.53 billion (World Bank 2016) Gross National income: 151.5 billion PPP dollars (World Bank 2016) GNI per capita: 3,130 PPP dollars (World Bank 2016) 100+ major international companies & organisations including the United Nations 9th Larges Economy in Africa
Rise in Residential Approvals (KNBS) Table 17: Value of Building Plans Approved by Nairobi City County Planning Compliance & Enforcement Month Department 2016 Residential KSh Million Non Residential Aggregate Residential Residential Index* Non Aggregate January 13,979.86 9,989.36 23,969.22 171.51 118.23 289.74 February 14,206.00 8,015.56 22,221.56 174.28 94.87 269.15 March 16,002.46 10,458.88 26,461.34 196.32 123.79 320.11 Apri 13,619.00 11,802.16 25,421.16 167.08 139.68 306.77 May 16,463.16 11,776.98 28,240.14 201.97 139.39 341.36 June 16,685.26 11,588.50 28,273.76 204.70 137.16 341.85 July 16,194.86 12,460.94 28,655.80 198.68 147.48 346.16 August 16,840.34 12,039.72 142.50 349.10 28,880.06 206.60 September 17,024.12 10,380.60 27,404.72 208.86 122.86 331.72 October 15,528.66 13,714.26 29,242.92 190.51 162.31 352.82 November 16,014.48 7,480.46 23,494.94 196.47 88.53 285.00 December 14,012.66 171.91 94.76 266.67 8,006.02 22,018.68 2017 January 10,822.40 9,503.42 20,325.82 128.37 112.48 240.85 February 11,275.50 8,475.84 19,751.34 133.74 100.32 234.06 March 11,765.56 9,867.06 21,632.62 139.56 116.78 256.34 Api 11,800.44 10,039.54 21,839.98 139.97 114.66 254.63 May 12,401.97 9,739.09 22,141.05 147.11 11123 258.33 June 12,300.63 10,679.09 22,979.72 145.90 121.96 267.86 July 18,146.46 2,691.63 20,838.09 21524 30.74 245.98 Source: Nairobi City County. * Actual deflated by relevant construction cost indices (Dec1972-100)
Project Team: Project Manager Architect Main Contractor Str/Civil Engineer Quantity Surveyor Electrical/Mechanical Engineer Procurement Company Span Associates DesignQuest Ltd Stellar Builders Ltd. Berlconsult & Amp Associates E-scan Projects Ltd EMpaq Limited Hyundai Homeart (K) Ltd.
Project Team: CompletedProiects 1 Phenom estate Langata 400 housing units (2.5 billion) 2009-2013 -Stellar Builders/U designarchitects 2 Greenspan estate 700 housing units & mall (4.5 billion) 2009-2016 -Stellar Builders/U design Architects 3 Five Star Meadows Phase 1 Kiambu County -Stellar Builders 4 Kencom housing scheme 113 units (3 billion) 2013-2016 -Stellar Builders/U designarchitects 5 Karizma court 1st parklands 40 units (750 million) 2008-2009 -Span Associates 6 Pritam Apartments 24 units (265 million) 2013-2015 -Span Associates Ltd 7 Leroy apartments Kisumu 80 units (650 million) 2014-2015 -Span Associates