By Reuben Kimani
Investment in infrastructure by the government had a positive effect on different sectors of the economy. This is according to a Monetary Policy Committee Markets Perceptions Survey by Central Bank of Kenya that sought to field responses on the impact of infrastructural projects in various counties. An increase in real estate investment was reported alongside increased economic activity by business people on account of proximity to upcoming roads, railways and other key amenities.
- Investing are shifting from investing in the Capital City to fast developing counties such as Machakos due to availability of key amenities.
- Real estate investors are more keen to invest in areas with infrastructural developments.
- An area such as Matuu in Machakos County is already standing out due to good roads and proximity to key amenities.
Investors rate the quality of infrastructure as a top consideration when determining where to invest according to a survey done by Urban Land Institute. Notably, Machakos County has made itself attractive to both local and international investors. In June, the county unveiled a Ksh12B budget for the 2019/2020 Financial Year, with healthcare and infrastructure receiving a lion’s share. The County is also set to build an airport with a proposal already tabled in the County Assembly allocating Ksh100 million for the facility’s initial set-up.
Real estate in Machakos County has seen land prices go up due to available amenities and its proximity to Nairobi which is approximately 66 kilometres. People working in Nairobi can now consider investing in this area which is gearing up to be a real estate giant alongside Kangundo Road, Kiambu and Kajiado. An example of an area in Machakos is Matuu, which is standing out due to good roads and proximity to key amenities.
In a recent report, Nairobi emerged as the most expensive city to build in Africa, after South Africa’s Johannesburg according to a report by Design and Consultancy Firm Arcadis. This among factors such as the cost of land in the area, the desire to live in areas with less congestion and with sufficient amenities is gradually witnessing investors shift from investing in the Capital City to fast developing counties.
Machakos County has witnessed increased demand for land and housing as people move in to do business here leading to high level of construction activities influencing the overall growth of the county’s economy due to its attractiveness to potential investors who value road network as a key element in commerce and industry.
In conclusion, the county continues to make massive investment on infrastructure and when trusted real estate companies offer genuine real estate investment opportunities and deliver title deeds, investors will be able to develop their properties and engage in activities that will positively influence the growth of a county.
The author is the CEO of Username Investment Limited