Ruiru and Syokimau were among the Nairobi satellite towns that recorded impressive land price growth in 2023.
According to the HassConsult report for the 2023 Fourth Quarter, Ruiru recorded an annual growth of 8.7 per cent while Syokimau recorded a growth of 15.8 per cent.
HassConsult attributed the growth to the road networks in the areas with Thika Road (for Ruiru) and Mombasa Road (Syokimau) highlighted as the major factors.
It was explained that the road infrastructure opened up the areas for investors to set up facilities such as malls, schools, restaurants and real estate projects.
Notably, Ngong also experienced growth in land prices owing to the development of Ngong Road.
"Satellite towns that are served by better access infrastructure along the Thika Road, Mombasa Road and Ngong Road arteries continued with their steady price growth on both quarterly and annual basis, led by Syokimau, Ngong and Ruiru," read the report in part
Ruiru
Apart from Thika Road, the area has experienced growth in land prices owing to the planned tarmacking of the Eastern Bypass which is projected to open up the town even more.
Notably, the Northlands City by the Kenyatta family is also being undertaken in the area, hence the traction the town is getting.
By the end of 2022, an acre of land in Ruiru was retailing at Ksh28.3 million. These figures rose to Ksh30.7 million in December 2023.
Syokimau
Syokimau was one of the satellite towns that experienced double-digit growth in 2023. Apart from Mombasa Road, the Nairobi Expressway has opened up the area for more investments.
The Nairobi Expressway was officially opened in July 2022.
Regarding the prices, an acre of land is currently being sold at Ksh37.2 million. At the end of December 2022, the price of a similar piece was Ksh28.3 million.
Notably, the prices could grow even further as the government undertakes the recarpeting of the old Mombasa road. The government is also intending to dual the Nairobi-Mombasa Highway.
