Breath of fresh air into the housing market business
Friday, October 11th, 2019
Nairobi has been witnessing a buzz in property development lately with many big and daring players taking interest in the lucrative space.
With only two years in the market, Deltar Properties Limited is already making waves in the city residential space. Theirs is a promise of class and affordability, which perhaps is what attracts lots of clients to their nest.
Being developers of modern apartments in Nairobi comes with its fair share of uncertainty, especially since there is a crowd already involved. That, however, hasn’t stopped the owners of this company from wading in the rough for a piece of the pie.
The ambitious company has three projects in Parklands, South C and the latest one in upmarket Kileleshwa.
While most of their sales are done off-plan, the interest generated from concept to construction makes them a rare breed as many purchases straight from building time.
Quality and good rates
Deltar Properties management has put in place an interesting payment package that has seen inquiries shoot in recent times.
General manager, Hassan Jirow says research has enabled them to deliver what the market desires.
“It was important to get the arithmetic right because the terrain can be a bit tricky. However, for us, the eight-year plan in terms of payment has proved flexible for buyers.
As long as you sell the quality with good rates, you will have customers. This is precisely what we have done with most of our units already sold out,” he said.
The company is focusing on the Kilimani project, The Taji Residence, launched last weekend. The apartments along Nyangumi Road are 44 in number and will cost Sh17 million with buyers allowed to pay instalments of Sh66,000 until completion in six years. The other 44 units are reserved for Duplexes each going for Sh19 million.
Jirow believes it is what the upwardly mobile Nairobians have been yearning for. “Traditionally we cater to upper-class citizens with small families. Our target market also covers the Diaspora people as long as they can meet our payment schedules.
This particular project stands out due to its close proximity to social amenities such as malls, schools and hospitals,” he says.
The Taji Residence, off Lenana Road has the conventional three-bedroom unit standing at 190 square metres/ 2050 square feet while the duplex stands at 220 square metres / 2400 square feet.
Marketing Manager, Abdirahim Mohamed says their concept on duplexes is catching up because of its overall uniqueness.
“I do not think Nairobi has exactly what we possess because we put a lot into detail. This is what a client who puts in top dollar wants.
We use the best of certified consultants because we believe in the final product,” he says. In the near future, they plan to explore the Mombasa and Eldoret market based on viability and demand.
On the downside, Mohamed notes that being a young and upcoming company, there have been challenges of trust.
“This is a very sensitive industry and apart from people looking for value for money, trust is important. We still find challenges with people trusting our product, maybe because of past experiences with other companies.
What has helped is basically referrals from our first two projects; Sidney Residence and The Orchards, which are literally sold out,” he adds.
Another frustration for Deltar Properties has been issued to do with some buyers not quite knowing what they want. They are calling for stringent measures on rogue developers and reigning in on foreigners flooding the market with sub-standard projects.