Entrepreneur helps Kenyans in the Diaspora buy decent, affordable houses .
AjabuAfrica.com
Lowell, MA
06/03/2008

A Kenyans entrepreneur is helping ordinary Kenyans in the Diaspora get a piece of the   rapidly growing real estate sector in Kenya, by organizing for well developed decent houses in Nairobi and it’s environs.

 Dr. Kairu wa Kiaraho,  has  already developed  dozens of houses for the members of Kenyan USA Investment group , an organization of Kenyans living in Lowell, MA , who have come together to pool their resources for the purposes of investing as a block back home.

As a result of the success of the program that he has been running, Dr Kiaraho , who had also come to the US to attend the graduation ceremony of his son, made a video and a PowerPoint presentation to the group of investors who were joined by other aspiring young investors at the St Stephens Anglican Church in Lowell.

He told the investors present that Kenya is growing at a very rapid rate despite the general elections fracas that happened earlier in the year. “There is peace now back home and business is back to normal and its moving fast. You have to get yourself some little real estate now in Kenya before the values and prices climb even higher” said the physician.

 Dr Kairu revealed that he is helping willing buyers secure easy mortgage facilities with some of the leading banks in Kenya. “You don’t have to buy the houses in cash. Banks in Kenya are looking for people to lend to”. Take advantage of this and get simple affordable monthly payments and we will develop a decent house for you”, the Dr said.

He said that following his many visits to the USA, he realized that many ordinary Kenyans lacked a personalized way of building houses in Kenya while they are still here in America.

”Many people told me how they send money to family members for house construction and work never gets done according to the budget, on the required time, and  the right way”, Dr Kairu said.  “It ends up costing way too much” he added.

He said that they are already developing 75 massionettes in a housing scheme called Kwandege, located just 11 km from the JKIA Airport on the outskirts of Nairobi.
East unit  is a master and suite, with 3 bedrooms and there bathrooms.

Each is currently going for KSH 3.95 million. Dr . Kiaraho said that all that one is needed to do is put down a 20% deposit ( about KSH 760,000) and the rest is financed by from  any bank  upon  loan application and qualification. “If you have a job in the USA, it becomes a lot easier for you to qualify for a mortgage in Kenya”. We will help you organize the required paperwork, he added.

Kenyans who have invested in the project listen and watch as a video and graphs were presented by Dr. Kiaraho, the man who is cordinating the project.

A silhouette of Dr. Kairu wa Kiaraho as he points to a the building plan of the housing project in Naorobi that Kenyans in the USA have heavily invested in.

Dr Kiaraho said he developed this idea of a fully loaded unit for this scheme as he realized that the Kenyan culture is changing.” These days, even parents are living with their grown up children in the same house. Dr. Kairu told the investors. “They could even be married right there, so everyone needs their privacy” he said.

Kenyans who have already invested in the development project were very excited to see the videos of their completed houses. “I was in Kenya a few months ago and they were just laying the ground work then, said Mr David Ikanyi. “I am surprised that the project has moved so fast. This is awesome”, he added.

Dr Kiaraho will be in the country for two more weeks and says that any interested Kenyans can contact him thought this link for more information.