Overview
- Updated On:
- December 22, 2020
Description
Property Description
Situated in the most exclusive neighborhood in kenya, known as Mwitu Estate, karen, this prime redevelopment property stretches from Mwitu road to the Mbagathi River.
- 3.8 Acres or optional 7.6 Acres
- high end residential gated community
- controlled developments, minimum 1 house per 0.5 acres
Price Ksh 55m per acre.
About Mwitu Estate
The prestigious gated community of only 40 compounds, is home to former Prime Minister Hon. Raila Odinga, former Member of Parliament for Tetu F.T. Nyamu, former presidential candidate Hon. Raphel Tuju, former Limuru Member of Parliament Hon. George Nyanja, the current Attorney General Hon. Githu Muigai, amongst other prominent personalities.
It is in close proximity to a number of facilities including the Hub Mall, Karen Shopping Centre and Cross Roads Mall. A number of international schools are also in the vicinity, these include; Hillcrest Preparatory School, Hillcrest Secondary School, Brookhouse School and the Banda School. The Karen Hospital and Karen Golf and Country Club are also within easy reach.
Deed Plan
The Neighbourhood
The affluent Karen neighborhood is set to get a mega Sh4 billion shopping mall that on completion will be Kenya’s second biggest after Thika Road’s Garden City.
The Hub Karen is a two phase project, with the completion of phase one estimated by the third quarter of 2015. The first phase will offer 30,000 square meters of gross lea sable area on two levels of retail,” said the firm in a statement.
MALLS
The second phase is planned for completion in 2018.
The investors have lined up mix of debt and equity to finance the project. Its estimated size and the project value makes it one of the biggest shopping malls in Nairobi.
The first phase, which will be 30,000 square meters of available space, is equivalent to Sarit Centre and is larger than the Junction Mall which measures 26,000 square meters. It will also sit on bigger land than the nearby Galleria Mall’s 12 acres.
The first phase is also nearly as big as the Garden City Mall’s first phase which will cover 35,800 square metres. Garden City, which is being developed by private equity firm Actis, is set to be the largest shopping mall is East and Central Africa and will occupy 50,000 square meters.
Azalea did not mention the size of the second phase.
The Hub is targeting to be the center for Karen area of Nairobi and is also targeting foreign visitors.