How to Get Mortgage in Nairobi, Kenya

Looking to buy a house in Kenya? Homeownership is probably the biggest decision of your life. There are many consideration factors involved and the most important being the method of payment. You can opt to pay for the house outright if you have the funds. But in most situations, homes are bought via a mortgage.

Understanding mortgages

The way mortgage works are very simple. You select a house of your choice. A financial institution buys the home on your behalf. And you pay the price of the house to the institution in regular installments. In exchange for allowing you to start living in the house without you having paid the full price for it, the institution charges you interest on the price of the house.

Types of mortgages

There are two kinds of mortgages. Fixed-rate mortgages have a fixed interest rate from the first day to the last but are usually more expensive to acquire. A cheaper but slightly riskier alternative is an adjustable-rate mortgage, where the interest rate depends on market conditions and changes from time to time.

Other charges

Apart from the interest rate, there are some other charges associated with mortgages. To name a few, there is usually a negotiation fee, a monthly ledge fee, legal fees, valuation fees, commitment fees, and a stamp duty.

Do you qualify?

The process of getting a mortgage in Nairobi is simple. The first step is to find out if you qualify for a mortgage. Factors like your income, personal expenses, the type of property you want, your age, your credit score determine if you do.

What property do you desire?

Once that is out of the way, the next step is to select a property of your choice. Once a property is selected, you will be assigned an agent who will help you get in touch with the right financial institution.

Time to make a deal

Your application is then processed based on certain documents you submit. After this, the financial institution can make an offer to you. The property is then formally acquired by the institution that you will be availing the mortgage from. Once the property is officially in their name, they can assign a monthly, quarterly, or yearly charge to you, which acts as an installment.

Now that you have an idea of what it takes to be eligible for a mortgage and how to go about opting for one, you’re one step closer to having a home in Nairobi. If you’re on the lookout for an ideal residential project, look no further than Garden City’s latest and most offering. 

Mi Vida Garden City Apartment Nairobi is one of the latest residential projects in Nairobi and addresses the shortage of affordable, middle-income housing for families. Over the next five years, it will add upwards of 3,000 homes within a 47-acre spread that is ideal for living, working, and relaxation. This mixed-use development along Thika Superhighway is just a short drive from Nairobi’s central business district. It offers easy access to Jomo Kenyatta International Airport. Know more about Mi Vida here.

Celebrate Nairobi Burger Week 2021 at the Garden City Mall and Thika Road

Garden City Thika Road - Living in the Heart of Culture.

Nairobi, Kenya

When we think of urban living, we want it all. Connectivity, culture, celebrations, and collective experiences. Life in a city is meant to be full of surprises with each week bringing in a different experience. Often, the first question people ask about any city is, "what is the most exciting part of town?". Citylife is an adventure and everybody wants in on the action, no matter what city you are in. And Nairobi is no different!

Want to be close to the action? How about settling down in Nairobi's hub of cultural experiences? Garden City is a bustling urban neighborhood in Nairobi that has plenty to offer. It is an integrated residential, retail, and office (mixed-use) development, offering apartments, duplexes & family villas, international schools, medical centers, and parks. Itching to know more? 

Have a look at Mi Vida Homes. A new residential development created to address the shortage of affordable houses for sale in Nairobi for middle-income families, in a neighborhood that offers all of life's goodness.

And as we speak, many restaurants in Garden City and specifically within the renowned Garden City Mall are celebrating the Nairobi Burger Week!

Image Source - https://businesstoday.co.ke/150-restaurants-participate-in-2021-nairobi-burger-week/

The fifth edition of Nairobi Burger Week is currently on and there's plenty of reasons to put your apron aside and opt to dig into delicious towers of goodness from your favorite restaurants. Started on February 26, 2021, Burger Week promises the best burgers in town with irresistible 2-for-1 deals, 'burger+drink' meal combos, and other discounts. And this year, NBW will also be celebrated on deliveries. So it doesn't matter if you're outside or tucked inside your cozy home, you can be a part of this much-awaited event on the city's culinary calendar. Burger Weekends on March 7th.

Diners have the chance to enjoy delicious burgers at over 150 restaurants in Nairobi. Customers will have burger options including veg, non-veg and out-the-box. Nairobi Burger Week will also offer deliveries through UberEats to satisfy demand.

Here is the full list of participating restaurants eatout.co.ke/nairobi-burger-week.

Mi Vida at Garden City Apartment Nairobi

Visit Garden City Mall Restaurant and enjoy the Nairobi Burger Week and while enjoying the delicious meal you can also visit Mi Vida at Garden City Mall Apartment and book 1, 2 and 3 bedroom apartments, starting at KES 8.8M. Hurry! 50% of homes sold.

Recently Completed Projects by Shapoorji Pallonji

 

 

Shapoorji Pallonji Group is an engineering and construction powerhouse with a long-standing legacy in India. It is responsible for some of the most iconic landmarks in the Mumbai skyline along with other cities as well. 

 

Here are some of the latest projects completed by the engineering arm of Shapoorji Pallonji Group.

Shiva Statue, Rajasthan (2020)

 

Called the Statue of Belief, this 351-feet tall statue has a structural steel framework and a shell of ultrahigh performance concrete moulded to its profile. The concrete shell has been designed and casted with every detail, expression, and feature of Shiva.

Kartarpur Corridor Passenger Terminal Building, Punjab (2020)

 

This state-of-the-art Passenger Terminal Building (PTB) has been constructed for the Landports Authority of India. It is a gateway to the Kartarpur Corridor and serves the Indian Sikh pilgrims as it connects the Dera Baba Nanak shrine in Gurdaspur to Darbar Sahib in Kartarpur, Pakistan. 

Syngene's Chemical Synthesis Manufacturing Facility, Karnataka (2020)

 

This manufacturing facility, constructed in Mangalore, comprises a pharma block, API warehouse, QA/QC building, utility block, and sampling shed along with a canteen and admin building. It also includes a water treatment plant, electrical substation, solvent storage, hydrogen shed, gas cylinder storage shed, and more.

Indigo Hotel, Dubai (2020)

 

This 269-key hotel is located in the prime area of Dubai's Business Bay. The construction includes basements, a swimming pool, architectural finishing works, external development, MEP, bathroom pods, interior fit-out, signage, landscaping, and more.

Abraj Quartier Residential Towers, Qatar (2020)

 

Located in The Pearl, Doha, this project comprises 4 towers of 331 furnished apartments each, 25 2-level standard villas, and 5 3-level plus basement VIP Villas along with internal roadways, landscape, and utilities.

FORSAN Central Mall, Abu Dhabi (2020)

 

Located in Khalifa City, Abu Dhabi, this shopping mall is spread across more than 1.10 million sq.ft. It features a  façade with a series of vertical green and brown elements creating a bamboo forest effect. It consists of retail stores, F&B outlets, an entertainment area, a nine-screen cinema, and a Lulu Hypermarket.

GE Diesel Locomotive Factory, Bihar (2019)

 

This factory has been designed and constructed for GE Diesel Locomotive Pvt. Ltd. It comprises a machine shop, fabrication shop, bogie and wheel assembly shop, metallurgical/chemical laboratory, calibration laboratory, assembly shop, and a paint shop along with warehousing facilities, administrative office, and staff facilities.

MBR Dubai Hills Estate Business Park, Dubai (2019)

 

This business park in Mohammed Bin Rashid City, Al Khail Road consists of four office buildings, hard and soft landscaping, and a multi-storey car park with basement and retail areas as well as associated works and external services.

One Indiabulls BLU Residential Complex, Maharashtra (2018)

 

This complex is located in Worli, Mumbai and comprises 3 premium residential towers with 305 dwelling units. This construction project included civil and structural works, underground and overhead water tanks, UG tank, pump room, STP collection tank, and more with external development works such as concrete roads and drains.

Suzuki Motors Automobile Manufacturing (Plant A & B), Gujarat (2018)

 

This automobile manufacturing facility is located in Hansalpur near Ahmedabad. The construction project also included ancillary buildings and the utility services of UG Water Tank, WTP, Boiler and Compressor House, ETP, STP, Substation Rooms, Bituminous Roads, Storm Water Drains, Sewer Lines, and more.

Ford Vehicle Assembly & Engine Plant, Gujarat (2014)

 

Located at Sanand, this project included the construction of a stamping shop, a paint shop, a body shop. It also involved site development work, civil and structural steel work, finishing work, roads, storm water drains, and external development work.

The Top 5 Shapoorji Pallonji Construction Projects in KSA (Saudi Arabia)

Saudi Arabia, known officially as the Kingdom of Saudi Arabia (KSA), has a booming construction industry in the present times. There is a massive focus on building megaprojects that will increase the standard of living and on developing cutting edge social infrastructure.

Therefore, Shapoorji Pallonji has a number of noteworthy projects in KSA as yet another powerhouse in the construction industry.

Al-Reziza Commercial Tower

Located on Dammam-Al Khobar road in Al Khobar, this commercial tower was constructed for Al-Reziza Trading & Contracting Co. in 2017. It consists of 25 storeys housing office spaces with 2 basement floors, ground floor, mezzanine floor, 5 podium floors, and 18 office floors.

Al AbdulKarim Tower (AKH Tower)

This commercial tower is the tallest building in Dammam at a dramatic 37 storeys. Completed in 2019, it serves as the headquarters for wholesale distributor Al AbdulKarim Holding Company.

SEC New Headquarters Building Complex

Saudi Electricity Company's new headquarters building in Riyadh was completed in 2019. It consists of 4 typical office towers with basements and a central common podium, a restaurant and recreational building, 2 service buildings, 2 community buildings, car parking area, and 6 guard houses equipped with all facilities.

Marriott Hotel and Executive Apartments

Shapoorji Pallonji Engineering and Construction took on this project for Dur Hospitality Company in Diplomatic Quarter, Riyadh, completed in 2019. It is a 221-key, five-star Marriott Hotel and Executive Apartments.

Commanders College

This institutional project was constructed in Saudi Arabia’s capital Riyadh in 2015. It comprises a main building, an accommodation building, a passage for the mosque, a guard house, courtyard, and compound wall, among others.

Standalone Photovoltaic Systems - an Overview

Source - https://en.wikipedia.org/wiki/Stand-alone_power_system

As we continue to increase our dependencies on gadgets and appliances in our day-to-day lives, our energy requirements have also proportionally increased. Depending on where you are located, you have a variety of options to meet these energy demands. One such promising option is the standalone solar photovoltaic (SSPV) system. It offers many benefits over other sources of energy, but also comes with its share of limitations. Let's explore.

What is a standalone solar PV system?

It is any contraption that can convert sunlight into usable electricity and does not rely on the electric grid to meet your requirements. SSPVs comprise of several components that come together to help you fulfil your energy needs. Typically, an SSPV system features rechargeable batteries that store electricity for use during the night and periods of inadequate sunlight, such cloudy days, rainy days, fogs and dust storms.

What are the components of an SSPV system?

Apart from an array of solar panels that usually output anywhere between 50 to 100+ watts, an SSPV system features batteries that convert electrical energy into stored chemical energy for later usage. They may also feature a charge controller that regulates electricity within the system to avoid over or undercharging the batteries. Fuses and isolation switches protect against shorting the wires by isolating components from electricity when not in use. These systems also require an inverter to convert DC power from the solar arrays into AC, to power your household appliances. Bringing all these components together, the wiring plays a crucial role and has to be correctly rated for the application as well as the voltage.

What are the benefits of an SSPV system?

Before opting in for an SSPV system, one must take into account all of its benefits and shortcomings. These systems are ideal for remote locations such as rural areas or temporary campsites as well as portable applications like in an RV, a camper van, boats etc. They offer free solar power with zero dependencies on the grid and are oftentimes cheaper and less time-consuming than having an electric company extend their power lines into the location of your choice.

What are the limitations of an SSPV system?

While these systems can fill a crucial gap in your energy requirement, they also come with some limitations. They require a dedicated space to set up that must also receive sunlight that is unobstructed by adjacent structures. During periods of inadequate sunlight and the night, these systems solely rely on their batteries. Installing such a system may involve one to make certain lifestyle choices like performing all energy-intensive tasks during the day time, switching to energy-efficient appliances, periodic calculations to keep track of energy utilisation and reinforcing measures to keep all unwanted appliances off at all times when not in use.

If you are planning on going solar, consider all the factors like availability of sufficient land/space, weather conditions in your location, your energy requirements as well as your budget. These systems are easy to set up but do require regular maintenance. It is therefore important to familiarize yourself with how such a system works and what it takes to keep it up and running. A great place to start is getting in touch with a reputable standalone solar PV system provider. At Sterling and Wilson Solar, we endeavour to design and develop unique solar solutions to unique problems, utilising industry best-practices to fully support your energy requirements. Let's go solar together!

A Comprehensive List of the Hotels Constructed by Shapoorji Pallonji Group

As a globally prestigious powerhouse and one of India's oldest construction companies, the Shapoorji Pallonji Group is the force behind some of the most iconic landmarks in the country with cutting-edge projects delivered all across the globe. The Group has constructed and engineered many thoughtfully designed manufacturing projects across sectors which includes stunning hotels for some of the most reputable names in the business. 

Here is a comprehensive list of the hotels constructed for well-known brands by Shapoorji Pallonji Engineering and Construction (SP E&C):

Taj Mahal Palace - Tower Wing in Mumbai (1970)

This extension of one of the most iconic landmarks in Mumbai is a 20-storey tower wing located right across the road from the Gateway of India facing the Arabian Sea.

Oberoi Towers in Mumbai (1973)

Standing as the tallest building in India when it was constructed, the structurally strong hotel has a part podium base rising to 25 floors that holds the tower firm.

Hotel Fairmont Bab Al Bahr in Abu Dhabi (2012)

Housing 369 guest rooms and suites that are spread over a whopping 1,370,000 sq. ft., this hotel is considered one of the finest five-star locations in the luxurious location of Abu Dhabi.

ITC Kohenur in Hyderabad (2017)

Offering the finest accomodation and dining services, this LEED 'Platinum Rated Green Building' certified, five-star luxury hotel has 271 rooms, 27 service apartments, and 7 suites including a presidential and grand presidential suite.

Vivanta by Taj in Guwahati (2015)

Another location of the iconic Taj Vivanta, this five-star luxury hotel is built with a blend of traditional and contemporary architecture, housing 150 rooms and luxury suites offering world-class accommodation.

Courtyard Marriott Hotel in Nedumbassery, Kochi (2012)

Located in close proximity to the Kochi International Airport, this four-star Marriott hotel offers upscale hospitality within a built up area of 1,76,000 sq. ft.

Courtyard Marriott Hotel in Edapally, Kochi (2013)

Another Marriott project location in Kochi, this luxury five-star business hotel has a built-up area of 3,50,000 sq. ft. situated within the Lulu International Shopping Mall.

Rove At The Park Hotel in Dubai (2019)

This three-star hotel is a part of Rove Hospitality LLC which is a subsidiary of Emaar Properties PJSC and has a capacity of 579 keys.

Rove City Centre Hotel in Dubai (2016)

Coming from a subsidiary of Emaar Properties PJSC, this three-star Rove City Centre Hotel has a capacity of 270 keys.

Rove Downtown Hotel in Dubai (2016)

Another landmark construction project for Rove Hospitality LLC, this three-star hotel in Zabeel has a capacity of 420 keys.

Rove Dubai Marina Hotel in Dubai (2018)

This construction project for Rove Hospitality LLC, a subsidiary of Emaar Properties PJSC, is a three-star hotel with a capacity of 384 keys.

Rove Healthcare City Hotel in Dubai (2017)

This is another three-star hotel constructed for Rove Hospitality LLC and is located at Oud Metha with a capacity of 286 keys.

Rove Trade Centre Hotel in Dubai (2017)

SP E&C constructed this 270-key, three-star hotel for Rove Hospitality LLC at Jafiliya, Dubai.

Vida Hotel in Dubai (2019)

Lining the Dubai Creek Harbour, this exquisite, 286-key capacity hotel was constructed for Lagoos Phase One LLC, a subsidiary of M/s Emaar Properties PJSC.

Top Best Cities to Invest in Africa

As the world truly comes closer and becomes one, more and more people are converging into cities. It is estimated that over half of the world's population now resides in cities. As centres of art, culture, trade and opportunity, cities reshape the landscape around them. Nowhere is this more apparent than in the developing world. And whether you reside in one or not, it is very likely that you will find yourself gravitating towards a city at some point of time in your life.

So when the time is right, what city would you go for? Let's take a look at some of the most promising African cities to invest in. While choosing the right city for residential or business purposes, one must take into account factors like accessibility, opportunities, infrastructure, demographic, geographic location, culture and cost of living. With this in mind, we look at the continent's most promising prospects.

When it comes to investing, the most important thing to look for is an upward trajectory. A strong middle-class population is indicative of great business opportunities and from this respect, a few names stand out immediately. Cities like Dar es Salaam in Tanzania and Lusaka, the capital of Zambia take the top spot. Joining them are cities like Accra in Ghana, Lagos in Nigeria, Cairo in Egypt and Nairobi in Kenya. These cities form the new generation of economic powerhouses in the continent.

If you're itching to begin the next chapter of your personal or business life, a great city to start is Nairobi. It is shaping up to be an incredible growth market with a booming residential and commercial scene. The shining star on the block - Garden City - is Kenya's first integrated residential, retail and office development. With bustling apartment complexes, shopping malls, business hotels and medical facilities, Garden City is the perfect place to set up shop. And when you have your heart set into moving in, there's always Mi Vida, a residential complex that is all about living life to the fullest. It features meticulously designed affordable homes with modern fitments and luxury offerings. So, have you found the city of your dreams?