Ksh.120B Kisumu housing project set to create jobs, lift city’s tourism, business profile

Kisumu aims to record new jobs and raise its business and tourism profile following the launch of a Ksh.120 billion mixed-use housing project in the lakeside city.

GulfCap Real Estate on Saturday launched LV Marina, a master-planned development set to redefine the wider Western Kenya region in a ceremony attended by several dignitaries, investors, and members of the public.

Former Prime Minister Raila Odinga applauded the project as a beacon of progress.

“LV Marina will change the face of Kenya, bringing international standards of living to our people and fostering opportunities for all economic classes. This project reflects the vision I hold for our nation—a future where everyone can aspire, invest and simply thrive” he said.

Kisumu Governor Anyang’ Nyong’o on his part lauded the development for its transformational potential, calling it a game-changer for Kisumu.

“This project is a testament to what visionary leadership and strategic partnerships can achieve. This development will not only elevate Kisumu’s urban profile but also create jobs, boost local businesses, and position our county as a regional economic hub. I extend my heartfelt thanks to GulfCap Real Estate and all stakeholders for making this vision a reality,” said Governor Nyong’o.

Located five minutes from Kisumu International Airport and along the shores of Lake Victoria, LV Marina is designed to be a self-sustaining community.

The develop­ment will include bespoke waterfront villas to apartment living, state-of-the-art social infrastructure, light industrial parks, and commercial hubs featuring retail centers, hotels, and schools.

Chris Ochieng, CEO of GulfCap Real Estate, described the project as a transformative milestone for Kisumu.

“LV Marina is more than a development; it is a vision of prosperity, sustainability, and inclusivity. We aim to create a community where people can live, work, play, and thrive in harmony. We are seeking strategic partners who dream big as we all work together to realize mutual growth in harmony with the beautiful LV Marina landscape” said Ochieng.

The project offers short-term and long-term leases, development rights for recreational facilities, and commercial ventures such as hotels, retail centres, and schools.

GulfCap Real Estate Founder and Chairman Suleiman Shahbal said the project to be constructed on a 285-acre piece of land

The company has invited investors for the project, which is expected to take six years to complete.

The new project comes after the successful completion of the Ksh.6 billion Buxtan Point in Mombasa and the Ksh.20 billion Starehe Point in Nairobi.