Start building immediately with a 10-year mortgage at Appolonia City
Appolonia City and Ghana Home Loans are offering the country’s only 10-year mortgage that allows buyers to start building their dream homes with just a 20% deposit.
Appolonia, a city-sized development just 20km from Accra CBD, and Ghana Home Loans, the country’s leading home finance institution, have partnered to provide a 10-year mortgage on serviced plots in Nova Ridge, Appolonia’s “buy-and-build” neighbourhood.
The mortgage, the first of its kind in Ghana, enables buyers of Nova Ridge serviced plots to make a minimum deposit of 20% of the land value and then spread the balance in monthly payments over a 10-year period. Purchasers can also access a home construction mortgage from Ghana Home Loans.
“We understand the challenge buyers have to acquire land and cover construction costs in parallel, usually while renting a house until they build their own,” said Kojo Addo-Kufuor, Chief Operating Officer of Ghana Home Loans. “Our 10-year mortgage spreads out the land payments, so families can start building immediately, and realise their dream of moving into their own home sooner.”
The management of Appolonia, which is being developed by Rendeavour, Africa’s largest urban land developer, say that Nova Ridge III buyers with a 10-year mortgage will enjoy all the benefits of a new city.
“Appolonia is delivering something unique to the Ghanaian market: secure land title, high-quality infrastructure and amenities such as schools, shops, clubhouses, medical facilities, petrol stations, parks and other recreation areas,” said Bright Owusu-Amofah, CEO of Appolonia. “We are building Ghana’s only new city in close proximity to Accra, where residents can live, work and play without the burdens of commuting and traffic.”
Lifestyle Estates begins construction of 450 apartments at Tatu City
Lifestyle Estates, a leading real estate developer in Kenya, has started construction of its high-quality apartment complex on 30 acres within Tatu City, the mixed-use, mixed-income satellite city project near Nairobi. ‘Lifestyle Heights’ will be a secure gated community, with 450 apartments in its first 10 acres, consisting of two and three-bedroom units. The development will comfortably accommodate 2,250 residents.
Construction activity in phase one has already commenced. The first units will be ready for occupation in December, 2018.
“Tatu City offers Lifestyle Heights the full complement of infrastructure to provide our prospective residents with what they need: affordable, comfortable housing in a controlled and gated community within a wider organised development” said CEO of Lifestyle Estates, Peter Karoki. “Lifestyle Heights merges the vision of Tatu City and the lifestyle expectations of our prospective clients.”
All units will have adequate parking and equal access to all amenities, such as a shopping complex, jogging track, children’s park, and recreation gardens. Social infrastructure, such as school bus drop off points, paved driveways, backup power for common areas security features, and well-defined pedestrian pathways have also been incorporated into the plans.
Because Lifestyle Heights is located within Tatu City, households will enjoy adequate water supply with efficient storm water collection and sewer systems with additional security throughout the development. Nick Langford, Country Head of Rendeavour, Tatu City’s developer and majority owner, said, “The addition of Lifestyle Heights to the residential options available at Tatu City is testament to the mixed-income ethos of the project, providing a wide spectrum to the market and thereby creating a city for all Kenyans.”
TATU CITY BACKS NATIONAL RUGBY TEAM FOR SECOND YEAR
Tatu City has announced a sponsorship of KES 5M for the Kenya 15’s rugby team, positioning Tatu City as the official Test Series sponsor and Test Match sponsor for the encounter between Kenya and Germany on May 27, 2017, in Nairobi. The sponsorship is part of Tatu City’s long-term plan to improve and develop sports in Kenya, and contribute to the socio-economic wellbeing of Kenyans
Speaking at the sponsorship announcement ceremony, Stephen Jennings, the founder and CEO of Rendeavour, the owner and developer of Tatu City, lauded the efforts being made by the Rugby Union and other parties towards sports development in the country. “We are pleased to be playing a pivotal role in this endeavour and wish the 15’s team the very best during the test match.”
Kenya Rugby Union Chairman Richard Omwela said, “This sponsorship will go a long way in supporting our 15’s team as they prepare for the test match and for the upcoming World Cup qualifiers. We would like to thank Tatu City for its unwavering support for the second year running.”
Tatu City is redefining urban development in Kenya by providing a benchmark for living and working spaces, schools and hospitals that will help sustain and accelerate Kenya’s economic growth, meet the aspirations of the burgeoning middle class and serve as a catalyst for further economic development.
TATU CITY EXPANDS KIJANI RIDGE PROJECT
Tatu City is launching the third phase of its ‘Buy and Build’ residential project, Kijani Ridge. Located within the larger Tatu City, the new phase of the project introduces an additional 100 ¼-acre plots to meet demand as early phases sell out.
Speaking at Tatu City’s Open Day on 8 April, Nick Langford, Kenya Country Head for Rendeavour, Tatu City’s majority owner and developer, outlined plans for the coming years.
“We have seen a tremendous increase in uptake at Kijani Ridge as a result of a better realisation and appreciation of the Tatu City concept and value. We are helping many Kenyan families achieve their dreams at Tatu City by offering no reservation charges for booking and introducing mortgage providers that have pre-qualified Kijani Ridge plots for lending”, he said.
Kijani Ridge will offer amenities including a club house and restaurant, a school, a mini-shopping centre, a jogging track, a dam and natural green open space.
The open day, despite the early morning rain, attracted more than 500 people, who expressed interest in the prime property while lauding the amenities and green space at Tatu City. “I am convinced that this is a worthwhile investment for my family. The plan put together and the thought process behind this is certainly admirable, and I am happy to have an opportunity to be part of Kijani Ridge and Tatu City,” said Edward Muchangi, one of the attendees of the open day.
Tatu City is a visionary concept aimed creating a decentralized urban environment, complete with sporting amenities, industrial park, themed parks and a central business district. Apart from Kijani Ridge, the project offers a variety of residential products ranging from KES 2M to KES 50M to cater to the broad spectrum of the market Tatu Industrial Park has attracted multinational and Kenyan companies such as Unilever, Chandaria Industries, Dormans and Kim-Fay amongst others, that have already commenced building at Tatu City.
TATU LAUDS GOVERNMENT’S INCENTIVES TO INDUSTRIES IN SPECIAL ECONOMIC ZONES
Tatu City has welcomed the Government’s move to offer incentives to industries operating in Special Economic Zones, saying that the initiative will help to spur growth, and drive Foreign Direct Investment (FDI), in Kenya’s built infrastructure.
Speaking on the sidelines of the East Africa Property Investment Summit at a Nairobi hotel today, Nick Langford, Country Head Rendeavour Kenya – the majority owner and developer of Tatu City – said the decision will encourage more firms to set up in Kenya, and help in the successful operation of Industrial Parks that have been established in mixed-use development projects such as Tatu City.
“With Special Economic Zone status, there are massive tax advantages for setting up businesses in Kenya making it possible for firms that had hitherto not considered the country as a business destination, to do so,” he said.
National Treasury Cabinet Secretary, Henry Rotich, in this year’s Budget Statement, said that the Government will be offering industries operating in Special Economic Zones a host of incentives to boost creation of modern urban centres.
“Under the SEZs, the Government will provide a host of incentives for industries to operate in and boost creation of modern urban centers. These incentives include exemption on VAT, reduced corporate tax rates for a defined period, access to quality infrastructure, and one-stop shops for licenses,” he said.
Tatu City also singled-out increased investment in infrastructure development as well as Government’s efforts to enhance the ease of doing business in the country to increase FDI
As part of its masterplan, Tatu City is setting up an industrial park on 457 acres that has already seen a host of industries sign up to expand or relocate their business there. These include Unilever, Chandaria Industries, Dormans, Kim-Fay, amongst others.