ODM Leader Raila Odinga
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Kisumu is poised for a significant transformation in its real estate landscape with the launch of the LV Marina project, an ambitious initiative by GulfCap Real Estate valued at Sh120 billion.
This development aims to meet the increasing housing demand in the region through a comprehensive approach that incorporates both residential and commercial spaces, alongside vital social amenities. Spanning 285 acres, the LV Marina project is situated on land historically linked to Jaramogi Oginga Odinga, Kenya's first Vice President, and previously occupied by the now-defunct molasses plant. Under the leadership of GulfCap Real Estate Chairman Suleiman Shahbal, this site is set to undergo a remarkable revival.
The proposed development will feature 1,400 homes, commercial areas, and essential facilities such as schools and hospitals. Shahbal has highlighted the variety of housing options available, including waterfront villas and modern apartments, which will be supported by advanced infrastructure. A member of the East African Legislative Assembly (EALA) emphasizes the project’s mixed-income focus, which targets both Kisumu residents and Kenyans nationwide.
The first phase of this development is currently underway and is expected to be completed within six years, marking a significant advancement in the region’s urban planning. During the launch, former Prime Minister Raila Odinga, whose family owns the land, spoke about the rationale behind the LV Marina project. He noted that the decline of the molasses plant underscored the necessity for initiatives capable of significantly bolstering local growth.
Odinga pointed out that the project aligns with the national agenda for affordable housing. Odinga also articulated the broader vision for Kisumu’s development as a progressive urban centre. He envisions LV Marina as a cornerstone in establishing an environment that prioritizes quality of life, enhancing security, healthcare, and economic opportunities for its residents. According to Odinga, such developments are crucial for the city's future prosperity and the well-being of its inhabitants.