Centum Real Estate Drives Land Value Surge in Garuga Through Pearl Marina Development
World Business Journal talks to Raphael Nyamai, GM of Centum Real Estate, about the latest developments at Pearl Marina, highlighting that over 200 homes are now occupied in the community while offering updates on the status of Phase 1, preparations for Phase 2, and the project’s significant impact on land prices and overall development in the area.
Has Pearl Marina completed Phase One and initiated Phase Two officially?
With only 26 townhouses left to finalise this year, Phase One is nearly complete.
We are set to commence on the amenities for the development, which include a sports facility with a swimming pool, clubhouse, basketball, football, and padel courts, among others. The success of phase one has seen us sell 98% of the units, with over 200 homes occupied in the community.
Phase two has already embarked with pre-sales for apartments, bungalows, and villas, and construction is set to commence. This will feature 360 apartments, 22 villas, and 31 bungalows. We aim to hand over units every 12 months to avoid delays like in phase one, where 417 units were delivered simultaneously.
In the new phase, we’re looking to develop a shopping mall and a five-star hotel with MICE facilities; we are currently collaborating with an international operator to finalise the hotel’s specifications.
What effect has the project had on the local community, infrastructure, and land value?
Garuga has rapidly evolved into a leading destination for prospective homeowners, with land values experiencing a tenfold increase since 2016.
This growth trajectory is underpinned by substantial infrastructure advancements, including the expansion of major highways such as the Expressway and Garuga Road, the installation of a high-capacity water pipeline, and the upgrade of electricity supply.
As the area’s population grows, significant investments from private schools, medical clinics, and internet service providers are improving connectivity and positioning Garuga as a forward-thinking hub.
What proportion of Phase One materials were locally sourced, and does the project employ sustainable practices?
Most Phase One materials were locally sourced, though some early finishes were imported. The project enhances local infrastructure, offers 4 km of lake frontage, and employs 80% local workers. 30% of the area is dedicated to green spaces. Buildings are designed for natural ventilation to reduce energy use, and Phase Two aims for energy certification through efficient materials, LED lighting, water-saving faucets, and solar energy integration.
