Private equity firm Fusion Capital Limited has entered into a strategic partnership with property developer Optiven Group, that will see them deliver a semi-serviced gated community, west of Thika Municipality in Murang’a County.
Fusion chief executive Mr. Daniel Kamau stated that the partnership with Optiven is informed by the fact that homeownership is generally a process in Kenya. “We have about 25,000 mortgages in Kenya and as such, not many Kenyans will be able to buy ready properties. Kenyans will buy land, pay off the loan and source a fresh facility to do their own construction which ends up saving them about 30% of what they would otherwise pay for a ready project. We intend to continue partnering with Optiven on similar concepts,” he said.
Mr. George Wachiuri, the chief executive of Optiven Group said that the firm is intentional about enabling Kenyans to own homes. “This is a mandate we will continue delivering on, we don’t just sell land, we sell homes where families will grow and live happily,” he added.
The project will comprise 70 homes that will sit at the heart of the Chania masterplan, offering its residents a first-class experience with top of the range amenities available within the property.
The Royal Palms boasts of ready titles, electricity and adequate water on-site as well as a perimeter wall surrounding the development and a gatehouse offering security to the residents. There are also internal murram roads and ready home designs.
Other proposed amenities in the larger masterplan include a commercial zone, picnic grounds and IGCSE School.
The two leading firms have in the past partnered in a strategic deal that saw the launch of Amani Ridge in Kiambu County last year and the beginning of a mutually beneficial business alliance between them.
