Why is Everyone Running to Nakuru City-Fourth city in Kenya
As at November 2021, Nakuru City is 6 months old after elevation to a city from Nakuru Municipality.
- What has happened so far?
- What is currently happening?
- Why is everyone running to Nakuru City?
What you Need to Know About Nakuru City
To begin with, in June 2021, Nakuru was officially approved to become a city. This made Nakuru the fourth city in Kenya others are Nairobi, Kisumu and Mombasa.
Secondly, in November 2021, Nakuru City was enlisted by UNESCO to join the creative cities network.
This is in recognition of the city’s commitment to placing culture and creativity at the heart of their development and to sharing knowledge and good practices.
Port Louis (Mauritius) and Nakuru (Kenya) are the first two cities in Eastern Africa to join the UNESCO Creative Cities Network (UCCN).
The UNESCO Creative Cities Network was created in 2004 to promote cooperation with and among cities that have identified creativity as a strategic factor for sustainable urban development.
Still, in November, Inaugural Nakuru City Marathon will take place. This event, will in 10 years be the premier marathon in Kenya.
What has happened and is happening so far since elevation to a city
Infrastructure, Industries etc.
Construction of the Lanet Airport (Phase 1) at the Lanet Barracks is progressing on well months after it was handed over to the contractor. Overall progress of the works to date has been weighed at 26.25%.
The scope of work for Phase 1 entails upgrading of the existing runway to bitumen standard, Taxiways, runway strip, culverts & drainage works.
Upgrade of Afraha Stadium to international standards is ongoing.
The upgrade of 8,200 seaters Afraha Stadium is expected to ensure the sitting capacity is 20,000.
The first phase is estimated to cost Ksh 650M and will be complete in 14 months.
The stadium will host sporting activities and a convention center.
Training Centres in Nakuru City
Nakuru City is currently undertaking the construction of Keringet Sports Academy in Kuresoi South. It will cost an estimate of Ksh 124 M.
The facility is expected to serve local and international athletes and help them train in a modern facility.
A fertilizer processing company, Fertiplant East Africa (FEA) Limited, has opened a new plant in Nakuru town.
This will be the first in Sub-Saharan Africa to blend NPK fertilizer.
The fertilizer is also available in the market. Other include Simba Cement etc.
A new mall known as Golden Life Mall hosting Chandarana Food Plus Supermarket has now set base in Nakuru City.
Expansion of Nakuru – Nairobi Highway
The ministry of ICT is set to relocate fiber optic cable along the Nairobi-Mau Summit road in readiness for its expansion.
The cable will be relocated permanently in the 240 kilometers that will be affected.
This exercise will take up to six weeks.
Expansion of this key road is expected to ease traffic load and reduce travel time along the busy highway.
Revival of the railway line
Kenya Railways is reviving the 216km railway line at a cost of Ksh 3.7B.
This will give Nakuru an extra means of transport for people and cargo.
Unveiling of New Redesign Plan in Line with City Status
Nakuru County government has unveiled an ambitious plan to redesign Nakuru city centre. The plan includes:
- Fixing traffic congestion by constructing an ultra-modern matatu and bus stage
- Re – carpeting roads inside the city
- Building & Expanding of walkways and bicycle lanes
- Construction of a modern market
- Street lighting
- Garbage disposal
- Upgrade town’s informal settlements
Why is everyone currently running to the new city?
Favorable Business Environment
Nakuru has more favorable business requirements compared to Nairobi.
In recent data, the city was ranked among the best areas for small businesses by Kenya Manufacturers Association.
This is because of the ease of accessing licenses and a friendly business environment.
From Kenya Bureaus of Statistics, Nakuru City has the second-highest GDP rate in Kenya in comparison to Nairobi City.
This growth is directly influenced by sectors such as farming, energy, in this case, geothermal in the Naivasha area, tourism as a result of major tourist sites in Nakuru City, and industries around the city.
This directly leads to more demand for real estate products for holiday homes in an area such as Naivasha thus positively influence the prices.
Population increase thus more potential for growth
From the 2019 Census, Nakuru City has a population of over 2.1M people making it the third most populated area in Kenya.
This is after Nairobi and Kiambu. This is due to its cosmopolitan nature where a majority of Kenyan tribes reside here.
Globally, an increase in population directly leads to an increase in demand for real estate products either commercial or residential.
With this in mind, Nakuru has seen a rise in demand for residential units and commercial units
Appreciation of prices of land
The newest City enjoys an average appreciation of land prices of 12.7 percent. T
This is according to County Land Prices which analyses prices of land across the country.
This means that speculative land buyers in Nakuru enjoy 12.7 percent per year without developing the vacant land.
Cheaper Cost of living
Nakuru City is among the least expensive cities in the world.
It is generally cheaper to live in Nakuru in comparison to other cities in Kenya.
Further, statistics show that it is 43% cheaper to eat out in Nakuru in comparison to Nairobi.
A quick search on the cost of renting a 3 bedroom in Milimani Nakuru, a posh and luxurious estate, reveals the cost averages from Ksh 26,000 and above.
A similar house in Milimani estate Nairobi averages between Ksh 80,000 and above.
Even at the cost of day-to-day living, it is cheaper to reside in Nakuru to Nairobi.
Nakuru City is a good tourism site
Where should you invest in Nakuru?
In conclusion, the increase in population around the city is causing satellite towns to grow and keep affecting the real estate market.
Further, the more companies set base, the more prices of properties will increase. The towns also expand leading to more demand for real estate products.
You can look for a real estate company selling land in Nakuru and know the list of properties they have in Nakuru City
Watch full video https://youtu.be/FnbOTzJJVGk
Why is Everyone Running to Nakuru City-Fourth city in Kenya