Nakuru County has been rated as on the fastest growing town in East and central Africa. It is strategically located with major investment opportunities. Political tolerance is another factor that has made the county a haven of investment. Nakuru County has numerous natural resources that have been exploited and continue to be exploited to grow the economy and attract local and international investors.
Energy: With the recent geothermal energy investment located at Ol’Karia in Naivasha and Menengai, the Government of Kenya has opened investment opportunities to the investors.
Tourism: Nakuru County enjoys the best tourist attractions of Lake Nakuru National park with the most beautiful flamingo birds and other wild animals attracting both domestic and international investors. Other tourism attraction sites include Hell’s Gate, Lake Naivasha, Menengai Crater, Hyrax Hill Anthropological Site and Lake Elementaita. The tourism attraction sites in Nakuru Countys have resulted in the establishment of numerous five and three star hotels to offer accommodation for the tourists. Entertainment joints such as clubs, bars, casinos and golf courses have also been developed to cater for the ever growing market.
Education: With the a high population of students leaving high schools, the County has attracted establishment of numerous universities and colleges has greatly contributed to the growth of Nakuru County. Students offer a wide market for various businesses especially residential places, attracting and growing the real estate industry.
Agricultural Sector: The Nakuru County enjoys favorable climatic conditions with forests cover in large sections. They are the source of a number of streams and rivers draining to Lake Nakuru, Lake Naivasha and Lake Elementaita and some of the kenya’s water catchment areas.
Commercial agriculture is the lifeline of Nakuru County. Horticultural farming has so far attracted massive investment in Nakuru County. Flower farming mostly practiced in Naivasha produces the best flowers for local and export consumption. The region have the best climate for floral. Green houses are also widely practiced in Nakuru County. Green house products are mainly cultivated for export purposes in Europe.
In Bahati and Keringet areas of Nakuru County, Farming of cash crops such as tea the order of the day because of the conducive climate of the area. Commercial vegetables and fruits are also produced commercially in Nakuru County. Other products such as Peaches, strawberries, onions, leeks, apples, French beans, tomatoes and asparagus do very well in different regions of Nakuru County. The Agricultural sector has attracted a number of canning factories such as Njoro Canning Factory that can the produced fruits for export and local consumption.
The growth of Agri-business has attracted investment in Agricultural machineries and tools assembly and sales such as Tractors, Lorries, Combine Harvesters and others.
Small scale trade is also an essential economic contributor. Due to high level of unemployment in Kenya many people have become entrepreneurs. Some of the most flourishing small scale businesses include agricultural retailers, selling of clothes, stationery shops, restaurants, clubs, supermarkets and shoe selling business. Entrepreneurship has created jobs for many residents of Nakuru County and at the same time create an investment arena for other residents of other counties and foreign investors.
Real Estate and Infrastructure Development: Property development is also on the rise in Nakuru County. The upsurge of the population has resulted in a high demand for housing units. This demand has led to increase land rates. The high cost of land has therefore made housing expensive, and this is a major challenge for property buyers. However property developers enjoys high demand of their products. Most land owner in the Nakuru CBD and its suburbs are aware of the unfolding scenario and are taking maximum advantage of it by subdividing their land into smaller parcels, selling them at high prices and then buying bigger chunks of land in other neighboring parts of the county such as Nyandarua
What is clear is that available for expansion of Nakuru CBD is limited hence real estate development in Nakuru is a daunting task requiring huge initial capital injections. Developers already realize that existing challenges do create new opportunities. Real estate opportunities are evident in Nakuru town, but to a forward looking and perceptive investor.
Property prices in Nakuru County are usually determined by proximity to town center and transport and communication infrastructure available. Every plot and parcel of land in Nakuru County is prime, stretching the prices beyond the reach of many who may be financially unstable. Business people now preferring to build high rise commercial and residential units and then selling them with healthy profit margins.
Transport and Communication: The transport sector in Nakuru not only earns the county revenue but also provides employment to hundreds of people. Investments in transport industry is growing everyday in Nakuru County.
