Kabarak University turns area into real estate hotspot

A residential house at Rafiki estate in Kabarak ,Nakuru county on February 16,2019.The presenceof Kabarak University in the area has attracted investors. [Kipsang Joseph/Standard]

Real estate developers are scrambling for land in the fast-growing areas around Kabarak University in Nakuru. Leah Chemitei, a resident and a real estate developer, said land prices in Rafiki area have grown tenfold in a decade.

“I bought my first a quarter acre plot in 2005 on which I developed a home. It cost me Sh130,000 then, but the price has since risen to at least Sh1 million,” she said.

“Rent for most houses has doubled and others tripled. A single room that was going for Sh1,500 then now costs Sh3,500 and above per month. Bedsitters have come up and the cheapest goes for Sh5,500 per month, while the rent for a one-bedroom house Sh8,000 and above per month,” said Chemitei.

The university’s population has grown exponentially over the years, creating a big market for housing of students and staff.

“I have residential houses which are always fully-occupied. The main clients are university students, lecturers and non-teaching staff. We are yet to satisfy the demand for housing in this area,” she said.

The university is constructing a 500-bed capacity teaching, research and referral mission hospital, which will employ thousands of people directly and indirectly. This, said Chemitai, has boosted investor confidence.

Julius Chepchieng’, the manager of Eastgate Apartments within the estate, said that less than a decade ago, the area was pastureland and farmland.

The 36 two-bedroom apartments house students, teachers and lecturers at a cost of Sh14,000 per unit per month. “Not many days go by before people come seeking a vacant house. We were fully booked by students and staff even before the construction was complete,” said Chepchieng’.

Charles Too, who runs a property management agency, said the presence of Kabarak in the area has improved neighbourhood security, thereby attracting investors. Two supermarkets are currently under construction.

The area’s proximity to Nakuru town, and good roads are also attracting investors. The area is only 20 kilometres from Nakuru town, has tarmacked roads and streetlights.