Senator tips youth on land and home ownership, investment plans

From L-R: Mercy Murugi, Fanaka Real Estate Human Resources Manager, CEO Moses Muriithi and Nominated Senator Isaac Ngugi during the event. [Nanjinia Wamuswa, Standard]

Young people have been advised to invest in land or housing owing to its annual appreciation.

Nominated Senator Isaac Ngugi said paying rent for many years is expensive and urged the youth to put in place plans to buy land or houses.

“I want to encourage my fellow young people that if there is one area that you cannot go wrong in investing in land. And this land will appreciate as time goes by,” he said.

Ngugi spoke in Nairobi at an event to mark the fifth anniversary of Fanaka Real Estate Ltd, a real estate and property management firm.

He regretted that majority of young people in Nairobi and other towns preferred fun and merry-making to own a house. “It will be wrong to be in Nairobi for so long, and after retirement you do not have a home, except for the rural one.”

He said Fanaka and other firms were investing in real estate in line with President Uhuru Kenyatta’s Big Four agenda incorporating affordable housing.

Fanaka Real Estate Chief Executive Moses Muriithi said:“One of our achievements as a company is that we have fulfilled the dream of helping people own land in Nairobi and its outskirts”.

The company launched a new office in Ruiru.

Fanaka Real Estate Business Development Manager Dennis Walubengo said the company was focused on new frontiers along Thika Road.

“We have seen a lot of potential in this area. The new branch in Ruiru will now serve clients interested in land along Thika Road within Ruiru, Juja Farm, Kenyatta Road, Ruiru East, Kamakis and Githunguri,” said Mr Walubengo.