As The Standard writer, on Thu May 26th 2016 correctly hinted, about 14 years ago Kangundo Road was undeniably a lonely land punctuated with bushy shrubs, however today the area is a safe haven with a beehive of development and business activities stretching to almost 24 hour system.
A section along Kangundo Road showing construction of a master class piece of architecture
All and sundry investors should heed the call and start their investment projects because Kangundo Road growth has been a time bomb as supported by the presence of investment firms such as Hass Consult, Stima Investment, Safaricom Sacco Housing Project, Kamulu Heights Estate and Fortune Gardens among others.
The county government of Machakos has also been aggressive through ongoing development project dubbed Machakos Development Program Water And Roads which would see an epic upgrade of the bypass, upgrade of various roads to mortorable standards, tarmacking of various roads, CCTV Cameras and various water projects.
The value of land (50ft by 100ft ) appreciating from Ksh.35,000 in 2002 to an average of Ksh.700,000 in 2016, a 1900% growth! This defies investment principle of rule 72 –it takes 7 years for the value of land to double- which should have seen the value go to Ksh.70,000 then to Ksh. 140,000 by now.
A high tech estate along Kangundo Road,
What will be the cost of the same piece of the land after 5 years in the same measurement? This is one of the pertinent questions. However your guess is as good as mine.
Nevertheless having an experience of investing in the same developing area, the best answer to this would be in famous Will Rodgers quote ‘Don’t wait to buy land, buy and wait’. Better still don’t wait, develop it.
Needless to say, as vision 2030 unveils, Kangundo Road with the serene environment developing infrastructure and expanse space will be a lucrative, competitive commercial and residential hub.
This among other factors like proximity to the city will make Machakos a sister city to Nairobi. An upgrade from the current position as a bedroom for city population.
By SK Fortune<
Personal Finance, Real Estate Investment Adviser with Fortune Gardens