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Migaa Golf Estate Gets Underway in Kiambu 1024 684 pndux0

Migaa Golf Estate Gets Underway in Kiambu

Read the original article on Constriction Kenya

Home Afrika Limited has started construction work on a 774-acre housing development in Kiambu County, which is planned to include a golf course.

Located 16km from Muthaiga and 20km from the Nairobi city centre, the development to be known as Migaa Golf Estate will offer a choice of villas, cottages, duplexes, apartments and studios, all boasting unique architecture and décor.

According to Home Afrika Ltd., the show-house for the first phase of the development – Mitini Scapes – will be ready by mid-February next year.

“The first phase of the development, consisting of 71 units, will be completed by September 2012. We have completed the construction of the golf course and we are now working on landscaping and service infrastructure,” said Mbugua Gecaga, one of the founders of Home Afrika Ltd.

“Mitini community will recycle its water, preserve 100 acres of existing coffee plantation and refurbish a former coffee factory as the country’s first coffee museum.”

Cementers Limited, the firm behind the Serena Kampala, the Sameer Business Park and the United States International University (USIU) library is undertaking the main contractor role for the project.

Ground breaking for Wadi Degla Migaa sports complex finally done 512 384 pndux0

Ground breaking for Wadi Degla Migaa sports complex finally done

Read the Orignal Article on The Star

Egyptian lifestyle and sports club developer, Wadi Degla has officially broken ground to put up a Sh3 billion development at Migaa in Kiambu County.

The Wadi Degla development is the single largest private investment in sports and lifestyle in Kenya in the recent past and intends to invest in a front nine-hole golf course, a club house and a sports academy among other .

Wadi Degla Holdings president Engineer Adel Sammy, underscored the need to ensure a healthy lifestyle and it’s benefits to the country’s economy.

“Our work in Egypt confirms the synergy between health and wealth. We are very delighted to come to Kenya, which is a powerhouse in the region and the continent and we know the developments here at Migaa will complement the healthy lifestyle of over 5,000 families, who live around this development, once it is complete,” he added.

Wadi Degla started its membership club in Runda at the end of last year and are looking to open more clubs in Karen, Hurlingham and Kitisuru.

Wadi Dela will also built a 10,000 seater stadium in Migaa worth Sh1.2 billion. The stadium will enable the smooth operation of the Arsenal Academy who Wadi Degla have partnered with in providing access to world class facilities for local footballers.

The stadium is set to have world class facilities besides hosting football and rugby matches. The stadium will also have squash courts, swimming pool, tennis courts, handball and volleyball facilities. Sports Cabinet Secretary Hassan Wario termed the entry of Wadi Degla a game changer in terms of sports in the country. “This is huge in terms of investment and infrastructure for sports lovers in this country and I wish them the very best,” said Wario.

He urged various stakeholders and federations to diversify sports portfolio. “As a country, we need to diversify our sports. We are good in athletics, volleyball and rugby but we need to have more Kenyans competing in squash, tennis and hockey among others. Back in Egypt, Wadi Degla have a football team Wadi Degla FC that plays in the top flight alongside powerhouses Zamalek, Al Ahly and Arab Contractors.

Egyptian firm invests in sports facility at Migaa 630 350 pndux0

Egyptian firm invests in sports facility at Migaa

Read the Orignal Article on Capital FM

KIAMBU, Kenya, May 6 – Egyptian conglomerate Wadi Degla Holdings has made what is touted as the single largest private investment in sporting facilities in Kenya this year.

The sports and club investor signed a $23m agreement with Home Afrika that involves investment in the golf course, building of club facilities and management of the golf course.

While signing the memorandum at Migaa in Kiambu County the President of Wadi Degla holdings Eng Adel Samy said: “We invest in sporting facilities in Egypt and we have seen these facilities transform regions into cities”.

Wadi Degla’s sporting facilities in Egypt support more than 75,000 families and the partnership with Migaa is expected to create some of the best sports talent development facilities in the region.

The Chairman of Home Afrika, Lee Karuri said the company considered the partnership an important one as it would enhance the lifestyles of Migaa residents. “This partnership takes us nearer in our quest to build a strong and thriving community at Migaa.”

The Chairman of Home Afrika Communities Limited (a subsidiary of Home Afrika) Mbugua Kamau also expressed excitement at the strong contribution to sport the projected is expected to have “We are very excited as Wadi Degla will be bringing their world class expertise to build and run our Club house and sport facilities in Migaa,” he said.

The MoU will ensure that Wadi Degla Holdings, through their local subsidiary, Wadi Degla Investment (K) Limited, will enter into a joint venture with Home Afrika Communities Limited on a Build – and – Operate basis where they will be leased 20 acres to build a Club House and Sports Academy.

The Kiambu county deputy governor Gerald Githinji described the project as another “significant investment for Kiambu”.

The launch of the partnership coincides with the commencement of another partnership between the county government and Migaa to build road lighting from Kiambu town to the now famous sporting facilities.

The CEO of Home Afrika, Njoroge Ng’ang’a added that Wadi Degla Holdings was making quite a significant investment in the facilities. “Wadi Degla will develop the remaining front 9 hole of Migaa 18 hole golf course to championship standards to the tune of $2 million. This will be in addition to over $20 million they will be putting up for the club facilities and sports academies.”

Wadi Degla is expected to complete construction of the golf course and clubhouse within eight to 10 months; while the sports facilities will be developed within three years. Works on site are expected to commence within a month

Wadi Degla Club Runda announces success with new club in Kenya 150 150 pndux0

Wadi Degla Club Runda announces success with new club in Kenya

Read the Original Article on The Standard

NAIROBI KENYA: Wadi Degla Holdings is poised to register success with its new club in Runda, Nairobi after marking record-breaking membership sales only one month after launch. Making the announcement, the Country Director Joseph Reda said that the club’s membership grew substantially with the launch of the Runda club, boosted by increased listing of lifestyle-conscious city families.

“We are proud of these milestones as we power ahead towards the opening of yet another incredible club in Nairobi at the Karen’s Mamba Village and a third in Migaa Golf Estate, ,” he added.

The Wadi Degla brand is home to the Arsenal Soccer Schools, the Swim America academy, Darwish Squash academy, the Tennis Academy and Wakiihuri Athletics Academy.

These academies are present in all the clubs and will open at the newly opened Runda club, located near the United Nations Office in Nairobi. Typically, members pay a one off lifetime membership giving the family access to all facilities of the clubs not just in Nairobi but all around the world.

Wadi Degla builds large clubs with modern sports facilities placing them around family-conscious business and social networking spaces.

They have long been regarded as daily destination for active working families who visit the club every day, with children dropped after school and parents joining them after work to engage in their interests.

“Our clubs are designed to connect and engage members of whole families with compelling spaces, opportunities, networking activities and a strong sense of community. They have therefore become important social, leisure and business networking hubs in cities where we are present,” he said.

“Going forward, the brand hopes to deliver to Nairobi locally relevant, meaningful international experiences to those looking for a sense of connection to a better world with family, work and play in day to day life,” said Mr. Reda, the country Director.

The impressive uptake of life membership in the club confirms yet again the titanic potential underlying world sports and Nairobi’s rising status as a hub for global citizens and international business networking.

The WadiDegla clubs brand is expected to next have presence in Karen’s Mamba Village and in the upmarket Migaa Golf Estate in Kiambu by 2017 – which will be larger clubs with facilities to accommodate more members in the coming future.

In Cairo, WadiDegla Clubs facilities have become so established with 5 operating clubs and 5 more under construction. These qualified the brand to be the first private club in Egypt to host the World Squash Championship in November 2016.

Egyptian firm opens Sh2b sports club in Runda, Nairobi 715 400 pndux0

Egyptian firm opens Sh2b sports club in Runda, Nairobi

Read the Orignal Article on The Standard

Egyptian firm Wadi Degla Holdings has launched a Sh2 billion sports club in Kiambu County. This is one of the three clubs the firm is investing in at a total cost of Sh10 billion.The club situated in Runda is a multi-sport facility that is expected to boost Wadi Degla’s operations in Kenya and play a part in entrenching professionalism in sports.

Wadi Degla Club Kenya Country Director Joseph Reda said the firm expects to open a second club in Kiambu’s Migaa estate, which is currently under construction and a third in Karen’s Mamba Village in 2017.Wadi Degla clubs are membership based. Mr Reda said families pay a one off fee that gives them exclusive access to all other Wadi Degla Clubs in Nairobi and around the world.“We have partnered with sports academies to help children develop their talents into professional careers, children can be enrolled in the Arsenal Soccer School while those who want to be athletes will be trained by former marathon champion Douglas Wakihuri,” he added.

Wadi Degla will also build a 10,000-seater stadium in Migaa worth Sh1.2 billion. The stadium will enable the smooth operation of the Arsenal Academy, which Wadi Degla has partnered with in providing access to world-class facilities for local footballers.Headquartered in Cairo, Wadi Degla has interests in sports, telecoms, real estate and hospitality. It currently has operations in Egypt, Belgium and Kenya, with planned entry into other African countries including Uganda, Tanzania, Rwanda, Nigeria and Cote d’Ivoire.During the launch, Kiambu Governor William Kabogo noted that the development would be beneficial to Kenyans.“We approved this mega project about eight months ago. Even though there are stadiums and small private sports clubs we believe the time is ripe for large clubs such as Wadi Degla. We are pleasantly surprised by the transformation and foresee immense benefits to Kenyans,” said Kabogo.Sports Cabinet Secretary Hassan Wario congratulated Wadi Degla Holding on the completion of their first club in Kenya

“This investment does more than just strengthen long standing relations between Kenya and Egypt. It advances shared aspirations of our people for better standards of living and access to better opportunities,” Wario said

Tea for the breakfast launch 512 384 pndux0

Tea for the breakfast launch

Read the original article on The Star

An exciting new golf tournament was unveiled at an invite only star studded breakfast meeting yesterday.

Tee At 1000 Golf was unveiled at the Lavington offices of TVC, with a practical tutorial on the sport.

“We will get to see celebrities swing infront of a camera. I’m not sure if it will be funny or not, but never the less there might be a hole in one,” Moses Mutothori, CEO Tee At 1000 Golf joked at the launch.

The golf tournament set for October at Migaa in Kiambu, will provide networking opportunities with the hope to have more people take up golfing as a prefered sport.

The organisers aim at attracting at least 1000 people for the October event. A pre-event tournament is scheduled for September 17 at the Railways Golf Club in Nairobi.

“We want to redefine golfing and introduce it to the celebrities,” said TVC boss, Maurice Okoth.

Wagi Degla Academy groundbreaking 512 384 pndux0

Wagi Degla Academy groundbreaking

Read the original article on The Star

Sport, Arts and Culture cabinet secretary Hassan Wario was the chief guest during the grand groundbreaking ceremony for the Wadi Degla club on Wednesday mid morning.

Held at Migaa Estate in Kiambu where the club shall be hosted, the event attracted real estate developers and realtors as well as Wadi Degla president Father Sammy Adel. The group is set to develop a sporting academy with the aim of supporting young generations of athletes to become real champions.

Present at the ceremony were Kiambu deputy governor Gerald Githinji, Mathare MP Steven Kariuki, former Foreign Affairs PS Thuita Mwangi, PC World MD Sapna Dadhley, Longhorn Kenya Limited chairman Francis Nyammo and Keninvest chairperson Anne Kirima-Muchoki.

Migaa soldiers on as firm plots Reits entry 150 150 pndux0

Migaa soldiers on as firm plots Reits entry

Read the Orignal Article on The Standard

We are now doing infrastructure work. There will be new projects that will be coming on stream. When done, Migaa will be the single biggest golfing estate in the country with about 4,000 residences.

Are you keeping to your timelines?

We are running slightly behind schedule. The capital requirements are big. Costs also change over time. The fundraising we did last year (we raised Sh500 million) has helped us. Most of this money will be used to put up infrastructure at Migaa.

When are you looking to have the first batch of people move in?

Next month. Mitini residences are complete. This is a mix of cottages and apartments. Occupation will begin either late this month or early May.

How will your shareholders get to benefit from a project like Migaa?

We will be able to generate profits out of our projects. Part of these profits goes back to our shareholders either in terms dividends or upside in terms of the shares.

One has to understand that real estate business is long-term. We keep investing in the projects, we keep investing in the assets which we have, land, and so the value to the shareholders is not eroded. Land values are going up and there is more value being added in terms of infrastructure.

When will development of the commercial areas in Migaa start?

We will break ground in May for some of the commercial areas. The sports complex and clubhouse will be concessioned to an Egyptian company that specialises in entertainment to develop and manage. They will be doing it to world class standards.

Do you see yourselves going into Real Estate Investment Trusts (Reits)?

Yes. We are in the process of talking with advisors on how we will benefit. As Reits managers, we will be establishing development Reits and once the projects are complete and generating income, we will convert them into investment Reits.

The question for us is whether we are going to manage, promote or how much we are going to outsource to other managers and entities. But we are at an advanced stage of putting together our application.

There is an argument that we do not have properties of a standard required for the Reits market.

Do you see such properties being developed?

The grade of properties we have is adequate to begin with, in terms of the structure of income flowing from those properties.

Kenya has a very good quality of real estate in the region. Once the Reits mechanism begins to show value we will then, probably, see developers plowing more money back into the projects.

After Migaa, are you looking at any other big projects in the near future?

We have two other projects. One in Kisumu called Lakeview, a 92-acre project in Riat Hills with a view of the airport, city and lake.

This is a mixed development, anchored on hospitality, on hotels and conferencing. We expect to have about 600 homes: a mix of bungalows, villas and apartments. We also have another project in Kwale, called Llango.

After Morningside Office Park (on Ngong Road, Nairobi), you went into mixed use developments.

Do you plan to go back to developing commercial projects?

Our five-year strategy says that we need to come back and do some commercial properties – probably some office parks. We also want to start penetrating the middle-income segment.

It is a high demand segment. Also, the price points that we should be able to meet our demand in terms of returns and meet the needs of buyers.

Are you moving into the middle-income segment within the next few years or after you are done the projects that you have?

What we want to do is establish a track record and complete the projects that we have. But once the projects are at a certain stage of completion, say 70 or 80 per cent, we break new ground.

The middle-income is tricky. The higher end was easier to go into, there is a well-defined market. But what we have begun to see is that prices at that higher segment are tightening.

It has been argued that property on the market is  overpriced.

What is your take on this?

It is a demand and supply situation. There is still a big gap between demand and supply. At the very high-end demand and supply are beginning to converge. Prices are tightening and even coming down in some areas.

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