Land investments in 14 Nairobi Satellite towns beat similar ventures in gold, fuel, and livestock businesses according to a report by the real estate firm HassConsult.
In its 2022 Quater 4 report released in February 2023, the firm indexed land investments in satellite towns such as Juja and Kitengela at 1047.4 while that of gold and crude oil was put at 227.4 and 90 respectively.
Livestock investments were indexed at 161.
The other satellite towns were Ngong, Athi River, Kiambu, Kiserian, Limuru, Mlolongo, Syokimau, Ongata Rongai, Ruaka, Ruiru, Thika, and Tigoni.
Comparison of the land and the other lucrative ventures was based on the data between 2007 to 2022.
Notably, the satellite towns also beat posh estates within the capital such as Karen, Kilimani, Muthaiga, Upperhill, Runda, and Spring valley among others.
Land values in the satellite towns grew by over 10 per cent while those in leafy suburbs grew by 6 per cent.
On average Juja recorded the largest growth since 2012 with 3.6 per cent. Kitengela recorded a 2.8 per cent growth while Ngong recorded a 2.69 per cent growth.
"Ksh1 Million invested at the end of 2007 would have been worth Ksh10.47 million if invested in land in 14 Nairobi satellite towns and Ksh6.39 million if invested in Nairobi suburbs," read the report in part.
The significant growth of land value in satellite towns was credited to the increasing demand for land in the area as city residents move to own land out of the capital.
Additionally, various infrastructure projects such as the Nairobi Expressway, which was officially launched in July 2022, have contributed to the land value.
Infrastructural development opens up lands for development and also brings growth and consistent development in a given area.
"HassConsult notes that in the Kiambu County towns, Limuru posted the strongest quarterly growth at 4.2 per cent as the town's attractiveness is being enhanced because it is still relatively undeveloped compared to its peers.
"Limuru area is attracting speculators on account of the resumed plans to construct the Rironi-Mau Summit Road," read the report in part.
