Thika Greens Resort & Estate is one of the most magnificent sites in the country, providing an ideal blend of outstanding residential properties and the surrounding natural ambience.
The resort which was commissioned in 2014 is co-owned by former Kirinyaga senator Charles Kibiru.
According to the company’s website, the Ksh 65 billion institution is located on a 1,700-acre plot of land 40 km from Nairobi.
The resort features an 18-hole par 72 championship golf course set on 306 acres of well-manicured grassland built by South African architects DDV Group.
However, its establishment was not without challenges.
In a previous interview, the former Senator admitted that he failed several times before eventually getting it right.
Kibiru disclosed that in 2015, he wanted to raise Ksh 20 million with 20 of his friends and business partners. However, 6 months later, he realized it couldn’t be done.
After restrategizing, he eventually created Dozen Ventures Limited with four partners, and they hired eight more associates. In three months, they successfully raised Ksh 12 million.
They sought finance from lenders and paid Ksh 26 million for a quarter-acre plot of land in Nairobi’s Spring Valley Estate. This signaled the beginning of their fortune.
In one year, they built four houses on the plot for a total of Ksh 70 million. They eventually sold them for Ksh 26 million each.
However, the company failed when the partners took their cut and fled.
During this time, the Othaya Farmers Cooperative Society announced that it was selling 1,135 acres of land located 40 kilometres from Nairobi.
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Kibiru then gathered his four major partners, with whom he created Dozen Ventures, and they established Thika Greens Limited with the goal of conquering the real estate sector.
“My vision was to create the first well-planned satellite town with proper infrastructure in place and in the end create a city out of the city. The construction of the Nairobi-Thika super highway was the confirmation that indeed this was the investment opportunity of a lifetime,” he said.
At the time, the Othaya Farmers Cooperative Society wanted Ksh 850 million for the land.
“In 2009 the five of us invited friends and business partners to the Jacaranda Hotel where we wooed them to invest at least Ksh 2 million each for a share in the project.
“We had nothing to offer them other than a receipt to prove they had made payment and the word of mouth that this would be the best investment they would ever make,” he stated.
They successfully raised Ksh 450 million in two months, with each individual owning at least Ksh 4 million in shares and up to Ksh 24 million.
“By October 2009 we had secured a loan from a local bank and made full payment for the land. We bought an additional 571 acres bringing the total acreage of land in our possession to 1,706 acres,” he added.
They then began the development upon successful ownership of the land.
“We began the first phase by subdividing the land into 966 plots which were later sold to the public. At first the plots sold for Ksh.850,000 each but within three months’ time the price had risen to Ksh 1.2 million,” he explained.
