The demand for housing in Kenya is estimated to range from 150,000 – 200,000 units per year against a severe undersupply of only 20,000 units. Urban areas continue to bear the greatest pressure as their population increases without any corresponding increase in available land.
In large cities such as Nairobi, demand for housing has pushed up land prices immensely but this has not discouraged developers from seizing investment opportunities in the booming property sector.
Many prospective homeowners, especially those who are beginning their careers, are looking for properties near the Central Business District for convenience. This is not always available. However, when these occasionally become available, the market is generally excited. Such is the case of Falcon Towers, a development by Sato Properties, located in the Pangani suburb of Nairobi. Pangani is a respected neighbourhood and it’s within easy reach from the city centre, Westlands and Thika Highway making it convenient to live in.
Sato Properties is a full time property developer, dedicated to building quality and value. The developer is currently specializing in small units to cater for the large number of individuals who may be just getting onto the property ladder and cannot afford bigger places or young singles or couples who are starting out. The smaller units are also popular with investors as they are easier to rent out.
Falcon Towers consists of 96 two-bedroom apartments and 12 studio apartments set on 12 floors. The building has two levels of parking.
According to the fast growing developer, Falcon Towers will be the new face of Pangani, bringing modernity to the area, while maintaining affordability. “While most developments in Pangani are only available for rent, Falcon Towers gives you the opportunity to own your own home, or to invest in a part of Nairobi’s future”, they say.
Why Pangani?
Sato Properties believe Pangani is the perfect location to invest for the future. This is because the area has undergone a massive upgrade in recent years and is now attracting a new class of residents, developments and amenities. It is at the heart of the new road networks, giving easy access to many parts of Nairobi, from Muthaiga to Westlands to the CBD, all of which are within easy driving distance from Falcon Towers.
Buying as a Home
The developer promises the home buyer a decent home with modern high quality finishes e designed to give you one a luxurious yet homely feel.
Buy as an Investment
According to Sato Properties, Falcon Tower is a great way to watch one’s money grow.
“The superior design and finishes means you will earn excellent rental income, and experience fast capital appreciation. With Nairobi’s rapidly growing middle class, there is and will be a massive increase in demand for good quality housing, and Falcon Towers will be the perfect place to stay.”
Features at a Glance
Apartment Features
- 2 bedrooms
- Modern interior finish
- Built in MDF kitchens
- Built in MDF wardrobes
- Large French windows
- Large balcony
- Ceramic tiling
- TV & Internet points
Common Features
- 2 x 8 passenger high speed lifts
- Generator for all common areas
- Borehole
- Large underground and overhead water tanks
- Fire detection and hose reels for every floor
- Fire escape
- Two high speed lifts and backup generator
- Large capacity water tanks and borehole
- Panoramic view of Nairobi from higher floors
Construction works began in April 2014 and are expected to come to an end by May 2016.
Project Team
Client: Sato Properties Ltd
Architect: Sycum Solutions Ltd
M&E Engineer: Gamma Delta
Structural & Civil Engineer: Steel Graphic Associates
Quantity Surveyor: Aegis Development
Main Contractor: Econobuild Ltd
Plumber: Plumbuild Ltd
Electrical Works: Ghani Electricals
Borehole: Hydrowells Ltd