How to Affordably Own a Piece of 5-Star Luxury in Malindi
Fractional ownership is a proven model that was pioneered by American Richard Santulli in the late 80's. He started it as a concept for business jets but the idea quickly grew to other sectors including resort properties as an alternative to the timeshare model.
What’s Fractional Ownership?
It's an investment structure for expensive assets including vacation homes. With fractional ownership, each owner holds part of the title. The deed to the property is split into several different pieces with one for each individual owner. As a result, if the property's value increases in value, so does the value of the fractional ownership.
Each owner is guaranteed a prescribed amount of access to the asset, which typically can be used or offered to the public as rental or charter. The income is usually split between the management company and the fractional owner, unless the owner finds the renter himself. Additionally each owner pays a portion of the annual management fees and maintenance, relative to the percentage of ownership.
Fractional ownership is now looking like a viable option for local luxury property entrepreneurs. Billy Berings, Douglas Jackson and their Baobab Development Group have taken the first bold step of introducing this unique concept to the Kenyan market.
The company has just completed construction of its first lifestyle residential development in Malindi dubbed The Village. The five star property has 32 fabulously appointed one and two bedroom self-contained villas ready for purchase.
Under the fractional ownership option, you can invest as little as 1.3 million Kenya Shillings. This not only guarantees you affordable luxury in a world class resort but also fantastic capital growth. It is as much an investment opportunity as it is a convenient holiday destination for you and your family. They could also afford you mortgage upon request. The property is assured to grow in value at a minimum of 9% net per annum. Apart from that, fractional owners stand to gain returns of another minimum 9% net per annum from rent.
The Baobab Development Group is not stopping there. They have planned developments in other parts of the Coast such as Watamu and Diani and even in the upcountry in Naivasha. This, according to Director Douglas Jackson, is a quest "to give more Kenyan families the opportunity to enjoy luxurious yet affordable holidays".
The Baobab Development Group
Nivina Towers, 4th floor
Westlands Road (opp. CFC Stanbic HQ)
Tel: +254 (0) 722 888779, +254 (0) 20 374 1116