BY VICTOR ADAR
For Dr Pritam Singh Panesar, good tidings have begun flowing. The Panda Development Company boss had foreseen Naivasha town early this century as the next town for luxury homes. He started doing construction at an early age, before independence, and his upbringing has an impact on the person he is today.
Back in the 1960s, the skills of Kenyan engineers were minimal, and giant projects were hard to come by. In those days, Panesar says, you could not do it if you did not know native language. Swahili was also a stumbling block leave a lone the Queen’s language.
Despite the basic challenges, it was around 2011 when he met his lucky star – a white guy who bought his idea where they would put their heads together, come up with design, and tapped the flourishing luxury development business big time. “All my life, I have been in construction. So that’s the only thing I know,” he says.
He has a lot of projects going on comprising of 250 villas flying from Sh15 million to Sh100 million and a 5 Star hotel boasting of 120 rooms with well appointed conference facilities, a ball room and spa. The latest to follow is the 18-hole golf course at Aberdare Hills, now being constructed to a 72-par championship layout of just over 6400 metres.
The course is set to stand out as it has been visited by global officials of the Professional Golf Association (PGA) giving it a nod to the status of PGA golf course. Even with a cost of Sh2.5 billion on the golf course alone, anchoring the Sh25 billion Aberdare Hills Golf Resort, so far, development of infrastructure has consumed Sh2 billion, covering 30 kilometres of internal roads, a boundary wall, three dams and four boreholes.
This parcel is 1040-acres, comprising of three land parcels. Panesar calls the area (where the golf resort sits), North parcel. Then they have 600-acres in the South parcel which is for middle-income people.
Panesar is, in deed, a ball of energy. When his Aberdare project took off, a lot of people in Naivasha town who are his friends, and who are also not his friends questioned why he is doing this high-end thing. Does it mean, they would ask, only the financially well heeled are the main target?
“So, those Leleshwa homes and Aberdare Ruai camps is for middle income, and they are buying plots. I think the current price is 2.5 million… it is about an eighth of an acre. We are giving you all the services there such as water, electricity, entrances, the boundary and fencing around the main plot. Then they can build their own homes the way they want,” he points out.
Things he achieved in journey engineering are huge. Not to forget putting the Aberdare Hills Golf Resort on top of his awards list. The resort was named the Best Golf Development in Africa at the 2015 International Property Awards in London last month. Perhaps bagging phenomenal awards such as this would not have been possible were it not for the understanding, passion for development and the opportunities in his town.
His expectation is that the projects will be backed by great infrastructure developing around the County, among them the Standard Gauge Railway, which when complete will allow people to travel from Naivasha to the Jomo Kenyatta International Airport, Nairobi, within an hour.
In addition, the recently announced construction of a 1500-acre industrial park by KenGen that is scheduled to launch in just 40 months as well as the planned modern airport in Nakuru when complete will encourage people to visit a small town turned a golf tourism hub.
Business spirit
He introduces new dimension on where to invest at a time when high interest rates spell a threat to investors especially first timers. Borrowing from banks, as it turns out, is becoming a bad compliment to a veteran such as Panesar who enhanced his business success by avoiding lenders. At present he has financed the projects with his own resources and some borrowings from his friends.
The local financing in a nutshell is too expensive, he says; “It is too difficult. That’s the only industry that is making money. Financial institutions are making super profits. You tie up your money when you borrow.”
If you do simple housing projects like apartments, he adds, it is easier done in a developed area: “Here, I am doing all these from nothing. It is like I am building a township from nothing, without the facilities like electricity, drainage, water, sewerage and security. This is not a project for someone without experience. If you want to start, it is better to start with small parcels.”
Panesar is a man with skills and substance transforming the way engineers of many decades would interact with the ones of today to leverage brick and mortar sector. He says all that he touches is within his stripe. It is not outside his line.
His broad experience in construction work gives him an advantage to take on a project of this Aberdare Hills size. It is not a challenge the way some other people might think. The multi billion project he is undertaking at Aberdare Hills is not just about luxury, but a home, a community and a lifestyle. With a golf course, his conscious is that what he is doing is good for the environment, a clear demonstration of commitment to eco-friendly stuff.
The top tycoon is also determined to focus on young people while roping in the rest of the target markets as a way of doing something for the future, a long time project. What he is selling is a lifestyle, which is not the same as buying cake from the counter. It is a lifetime saving, maybe your children could live in Naivasha.
Doing a multi billion project like this one in a remote part of Naivasha, an area that teems with wildlife such as antelopes, buffalo… an area offering myriad attractions such as the Hell’s Gate National Park, Longonot National Park, Mount Longonot as well as Lake Naivasha, can be a real hassle. Big projects like this are synonymous with towns like Nairobi and Mombasa, and quite often are pursued by some corrupt guys with influence.
Pritam will help end the story of the dusty town, which derives its name from a Maasai word, Naiposha. The wealthy businessman is transforming an area formerly known to many as “rough waters” into a spectacular destination. His unique approach of doing things, particularly by genuinely developing Aberdare Hills, is an indication that one day things will look up and Kenya’s next golf star will rise from his county.
“We are not doing projects elsewhere and I don’t think I have intentions of doing it elsewhere – this land belongs to me, I am living here. So I am doing it here,” he says with the confidence of a doctor.
The weird reality, though, is what gives Panesar sleepless nights, as one of his lowest moments is when he catches a sleep: “When I’m sleeping, and I have nothing to do.”
