Nairobi, 6th April 2024: Press Release For Immediate Release
Fusion Estates a subsidiary of Fusion Capital Limited has launched its fourth project Salma Gardens, a controlled gated community residential project in Nachu Area of Kikuyu. The launch of the new project underscores Fusion’s dedication to continue providing affordable housing opportunities in an ever-expanding landscape.
The new project, named ‘Salma Gardens,’ will be sold for under Kes. 1 million, aligning with Fusion Estates’ strong commitment to offering genuinely affordable land to individuals aspiring to build their first homes. The entry price is of utmost importance, and with land priced at below Kes. 1 million, we anticipate that landowners will invest an additional Kes. 2-3 million to construct their homes. Fusion has financed the land acquisition, master planning, titling, and installation of basic infrastructure. The basic infrastructure includes a gatehouse, perimeter walls, common washrooms, murram access roads, and basic landscaping.
Speaking at the function, Daniel Kamau the CEO of Fusion Capital stated that “the reason for the basic infrastructure is to manage the entry cost for land buyers”. The project lies approximately 40 kilometres away from Nairobi’s Central Business District, making it easily accessible within an hour’s drive from the city. With the upcoming completion of an 8-kilometer road, we anticipate a surge in commuters traveling from Salma Gardens to their workplaces in the CBD. He further emphasized Fusion’s commitment to providing land in locations close to where people work and conduct their businesses at affordable prices and hence the managed infrastructure costs.
Fusion Estates launched the project, attended by over 200 potential buyers, and pledged to continue delivering similar projects in the area. Speaking at the event, Mr. Kevin Sanya, the General Manager at Fusion Estates, emphasized that “At Fusion Capital, we believe the affordable housing agenda is critical. The government alone will not be able to meet the market demands, and hence, the private sector is expected to play a critical role in delivering on that agenda.” He further noted that while some families may prefer apartments, others would opt to acquire land titles, develop their parcels gradually, and create a small compound for activities like chicken rearing and pet ownership. Fusion is committed to addressing the needs of the latter group.” Said Mr. Sanya.
Mr. Daniel Kamau the Group CEO highlighted Fusion’s contribution to enabling homeownership, stating, “In the last few years, we have directly and indirectly facilitated over 1,500 individuals to own homes through land acquisition and development processes. We have directly and through other agencies handled over 10 projects and over 352 acres across various counties including Kiambu, Muranga, Nanyuki, Kajiado amongst others. Under Fusion Estates, in the past 12 months alone, we are approaching the 200 mark.” However, he acknowledged that this achievement is just a fraction of the overall demand and expressed Fusion’s intention to scale significantly in the future to accommodate larger master-planned sites. Mr. Sanya concluded by affirming Fusion’s 18-year track record and its commitment to playing a significant role in the affordable housing agenda going forward.
During the launch event, Mr. Kevin Sanya, the General Manager Fusion Estates, expressed Fusion’s commitment to providing land vendors with a positive experience unlike what they may be accustomed to. He emphasized that Fusion does not engage in the practice of acquiring land and then selling it off, leaving original landowners entangled in legal battles. Mr. Sanya further stated that Fusion has successfully delivered titles for all its projects launched in the past year, and this commitment will continue in all future projects. Additionally, he noted that Fusion ensures the price of the plot is inclusive of title processing costs and legal fees, thereby making land acquisition a hassle-free process for buyers. Furthermore, Fusion selectively chooses locations to ensure value appreciation for its customers.
The events were attended by amongst other Motor groups including Motor Vehicle Associations and Motor bikes associations.
ENDS…
NOTES TO EDITORS:
About Fusion Estates Limited
Fusion Estates Limited is a subsidiary of Fusion Capital Limited, a Kenyan private equity firm and real estate developer. Fusion Estates will mainly focus on acquiring, master-planning and developing land as well as property management of Fusion real estate portfolio. The 18-year-old firm (Fusion Capital) has established its credentials and experience as a solid property developer, with an expansive and well capitalized asset portfolio of up to $200 million which comprises various assets spread across Kenya, Uganda and Rwanda. Fusion Estates is its new subsidiary and is inviting individual (local and diaspora), Investment clubs, Chamas, Self-help groups, family investment vehicles and corporates to participate in its latest project, Salma Gardens. Some of the other projects delivered in the last one year include Alpha Meadows, Zahara Gardens and Brookhill Gardens.
About Fusion Capital
Fusion Capital is a private equity firm that has heavily invested in various real estate projects across East Africa, including Kigali Heights in Rwanda, Goldmark Apartments in Uganda, Fourth Avenue Towers, Flamingo Towers, Meru Greenwood Mall in Meru, Montey Apartments in Nakuru amongst many other projects.
Fusion Group has built a track record in purchasing vacant land, subdividing into smaller plots and putting in infrastructure, and then selling to local and diaspora Kenyan investors through its own new entity, Fusion Estates as well as other partnerships
The Group has now undertaken 10 subdivided and sell Land investments, totaling to 352 acres.
FOR MORE INFORMATION
FUSION ESTATES LIMITED
Mr. Kevin Sanya
General Manager
+254 723 97 97 97
4th Avenue Towers, 20th Floor, 4th Ngong AvenueEmail: ksanya@fusiongroupafrica.com
