Expound on your proposal.
20 or so fellas will net you kshs 10million, what is the cost of land AT THE AVAILABLE DENOMINATION?
At a glance, you seem to be leaning on sustainable development - recycling and all, thats the idea, however, at the risk of being a wet blanket, its not practical to put up 20 bungalows with 5m assuming the 1/2 acre plots are going at circa 5m (that works out to 250k per house). 4 Blocks of flats, 4 flats each can be cheaper to construct than 20 bungalows - you wont need a framed structure and masonry will do just fine for the storied block, however 1/8 acre is too small for that and also you may have issues with planning approvals for such in Nyari.
On the positive, pooling resources and developing in the upmarket area is a great idea - the most expensive land is actually in eastlands and therefore your idea makes a lot of economic sense.
Just like in F1, it's all in the telemetry