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Castellano Waterfront - Athi River, Kenya's trendiest real estate development
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jaggernaut
#1 Posted : Friday, December 07, 2012 12:39:09 PM
Rank: Elder


Joined: 10/9/2008
Posts: 5,389
Saw the advert for this new project, complete with a marina and an artificial sandy beach, in yesterdays Daily Nation. Upto 100% mortgage financing. Seems they have taken real estate development a notch higher.

http://castellanowaterfront.net/
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Am
#2 Posted : Friday, December 07, 2012 2:50:59 PM
Rank: Veteran


Joined: 2/21/2012
Posts: 1,739
Is this not what they call "Artist Impression" . I Hope it is that way real on the ground. As far as I know, the Artist Impression is always worlds apart from Kitu yenyewe..
Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
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eco
#3 Posted : Friday, December 07, 2012 6:34:45 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
Does Mavoko have adequate water supply for these trendy estate? Or would they rather have green areas for those water ponds? The site plan looks good though.
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Jamani
#4 Posted : Friday, December 07, 2012 6:57:28 PM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
jaggernaut wrote:
Saw the advert for this new project, complete with a marina and an artificial sandy beach, in yesterdays Daily Nation. Upto 100% mortgage financing. Seems they have taken real estate development a notch higher.

http://castellanowaterfront.net/



Read again copied from website.
Option 3. (Bank loan option)
100% financing for eligible buyers
Pay 20% deposit.
Get bank to guarantee the payment of 80% balance on completion

My understanding...
Its 100% financing after paying 20% deposit. yaani its 80% bank financing....
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quicksand
#5 Posted : Friday, December 07, 2012 7:30:07 PM
Rank: Veteran


Joined: 7/5/2010
Posts: 2,061
Location: Nairobi
Am wrote:
Is this not what they call "Artist Impression" . I Hope it is that way real on the ground. As far as I know, the Artist Impression is always worlds apart from Kitu yenyewe..


That is true.
I also balk at projects whose commitment fees are beyond 20% of the value of the house, with stiff penalties if you back out ... ati due to "demand" - this way the developers use your money for the core development and extract a profit as well - feels like a rip-off. Developers wameze risk mzima mzima. Wonder how long before people pre-pay up millions for houses on paper, then some dodgy developer absconds with the amassed billions Triton style. There should be some law about this,..like the way banks deposit cash at Central bank.
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jaggernaut
#6 Posted : Friday, December 07, 2012 8:49:42 PM
Rank: Elder


Joined: 10/9/2008
Posts: 5,389
We need to have a paradigm shift and start seeing the glass as half full instead of always seeing it as half empty. The project developers should be commended for thinking outside the box but not demonised. There's so much negativity on the forum.

www.forbes.com/sites/mar...optimism-in-tough-times/
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mkeiyd
#7 Posted : Saturday, December 08, 2012 9:18:02 AM
Rank: Veteran


Joined: 3/26/2012
Posts: 1,182
jaggernaut wrote:
Saw the advert for this new project, complete with a marina and an artificial sandy beach, in yesterdays Daily Nation. Upto 100% mortgage financing. Seems they have taken real estate development a notch higher.

http://castellanowaterfront.net/




"A marina (from Sp., Pt. and It. "marina", coast or shore) is a dock or basin with moorings and supplies for yachts and small boats".

Where will the yachts n small boats will be sailing to/from?

Ngumu hiyo!
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instinct
#8 Posted : Friday, May 13, 2016 5:32:49 PM
Rank: Member


Joined: 8/17/2007
Posts: 294
Did these guys ever build this project? the website was pulled down. where is the location in Athi River?
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maka
#9 Posted : Friday, May 13, 2016 5:39:05 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
instinct wrote:
Did these guys ever build this project? the website was pulled off. where is the location in Athi River?


d'oh! d'oh! d'oh!
possunt quia posse videntur
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