Ruaka town has in the past struggled to shed off its bad boy image but things have recently changed with the opening up of the town, thanks to the construction of the Northern Bypass.
In the last half decade, the Ruaka skyline has undergone a major face lift as the dusty kiosks and the simple residential houses are replaced by modern buildings.
Buoyed by the benefits that have come about with the opening up of the town, Nairobi residents are thronging the small town as they seek decent accommodation in areas close to the central business district.
Investors in the real estate sector have also shown confidence in the area, as they rush to put up amenities that seek to meet the high demand for housing in the area.
The proposed Two Rivers Mall which will be the largest mall in East and Central Africa is further expected to spur growth in area, where rent has more than tripled in a period of about three years.
Cytonn Investments, through its development arm Cytonn Real Estate, is the latest entrant with a multi-million housing project that will see the construction of 1, 2 and 3-bedroom apartment units in a gated community.
The gated community will be self-sufficient and will include a day care facility, a clubhouse, a commercial hub, and a swimming pool.
Ms Elizabeth Nkukuu of Cytonn Real Estate says the project targets middle income families who are interested in owning a modern apartment at an affordable rate.
“The Alma is strategically situated. We have 1, 2, and 3 bedroom apartments that are going for Sh5.5, Sh7.5, and Sh9.5 million respectively which is fair deal in an area where the current rental costs range from Sh25,000 to Sh40,000 a month”.
Ms Nkukuu adds that they will also target investors who want to benefit from capital appreciation “research has shown Ruaka has had over 500 per cent appreciation in land prices since 2007”.
Ruaka is an ideal location for real estate projects owing to its strategic location as it in close proximity to up-market estates such as Runda, Rosslyn and Muthaiga.
Previously, investors shied away from investing in the town, but the changes in fortune have also seen an influx in the number of residents looking for accommodation to the point that the demand far outweighs the supply.
The springing up of real estate investors could bring a lasting solution to housing crisis in Nairobi, which is home to one of the largest slums in Africa - Kibera slums.