FAQ
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About GulfCap & Portfolio Companies
Who is GulfCap Real Estate and what do they do?
GulfCap Real Estate is a trendsetter in affordable housing development in Kenya which provides superior modern architecture and new customer trends to promote a holistic lifestyle in a secure and serene environment.
Our philosophy revolves around building a lifestyle, not just apartments hence the sharp focus on providing facilities such as a Community Centers, Early Childhood Educational Facilities, Social Hall, Sports Facilities, Recreational areas, swimming pool, retail facilities, Food & Beverage outlets, indoor and outdoor gyms, Jogging tracks, dedicated footpaths, and many more.
Which projects is GulfCap Real Estate undertaking and where are they located?
GulfCap Real Estate is the developer of Mombasa’s award-winning Buxton Point Affordable Housing Project and Starehe Point Affordable Housing Project in Nairobi. Both our projects are strategically located and few minutes to CBD and near key social amenities including hospitals, schools, mosques and churches among others.
What other services does GulfCap Real Estate offer?
How different are you from other developers ?
Unlike other developers who just construct houses, at GCRE we are building a lifestyle which focuses on providing amenities that serve all clients needs. At GulfCap we have a vision of providing a most decent place for the low income employees and ordinary kenyan to live in , and our short history in Buxton Point in Mombasa proves that we delivered one of the most successful affordable units in the country in terms of designs , livability and quality of construction.
Do you have other projects in Nairobi?
At the moment GCRE has only one project in Nairobi which is Starehe Point affordable housing.
Is this your first project in Real Estate Development ?
No it is not , this is the second project we have in Kenya , Buxton Point in mombasa was the first project and Starehe point is our second one.
Project FAQs
What is affordable housing?
Affordable housing refers to housing that is priced at a level that is affordable to individuals or families with low to moderate incomes. It aims to ensure that people can obtain safe and decent housing without spending an excessive portion of their income on housing costs.
Is affordable housing of lower quality than market-rate housing?
Affordable housing does not necessarily mean lower quality housing. Affordable housing projects are typically subject to certain regulations and standards to ensure they meet safety, health, and habitability requirements. However, the specific quality and condition of affordable housing can vary, just as it can with market-rate housing.
What is a master planned development concept?
A master planned development concept is a long term vision that guides the physical, social and economic aspects of large geographical areas packaged as a node, region, district or city over a period of time not less than 15 t0 20 years.
What does Starehe Point Project entail and what amenities are included?
Starehe point consist of a number of modern buildings with high speed elevators, the buildings are being separated by 2 main roads which split the development to 3 districts to ease the traffic flow of vehicles , the site surrounded by all what a person needs to do after coming back home from job or school , starting from football play ground , gym , swimming pool , cycling , jogging and huge green areas which a person can sit and relax and watch the sunset.
Where is Starehe Point located?
Starehe Point is located opposite Pumwani Maternity Hospital or behind Starehe Boys High School in the Starehe area in Nairobi county.
Is Starehe Point present on other digital platforms?
Starhe Point is on the company platform and also is on the government platform (Boma Yangu).
What is the best way to contact you?
We are available on our online platforms , through our hotlines and also physically in our offices in Nairobi and Mombasa.
How do I plan for site viewing and is it charged?
Visitors are welcomed to visit the site from Monday to Saturday 8:00 AM-4:30 PM , However visitors must follow the safety guide and rules given by the team at the site due to the ongoing construction works.
What are the benchmarks near your development ?
Starehe point is located off General Waruinge Road and is also walking distance from the famous business district in Nairobi Eastleigh and is opposite Pumwani maternity hospital.
What do the finished units look like ?
Our goal is to provide a modern affordable unit with classic finishes of tiles , doors ,windows and kitchen cabinets and wardrobes.
How many car parks do you provide per unit ?
We provide shared parkings for our clients.
How long does it take to finalise the purchase process ?
The purchase of a unit is a swift and quick process which is not supposed to take time as long as the required documents are presented and the payment plan is agreeable.
Has the construction started ?
The construction of the show house has already started together with infrastructure of the entire site which includes Roads , sewage , water , etc.
How many units are there for the entire project ?
Starehe Point has a total number of 6026 units , the units are a mix of 1 bedroom , 2 bedroom and 3 bedrooms.
Financial FAQs
What is the unit buying process?
You can secure a unit by visiting our website, calling us on our office number or visiting our show house. Reserve a unit after engaging a Property Advisor, pay 1 percent of unit value within 24 hours and get a reservation form, receive an offer letter after reservation. You have 7 days to pay 19 percent to complete the down payment of 20 percent. You will receive a sales agreement within 14 days . Service your instalments as per your payment plan and receive your house key after completion of construction.
How much do I need for a down payment?
The initial deposit to owning a unit is 20% of the purchase price.
Which financial institutions are in partnership with GulfCap Real Estate?
Can I easily access my payment history?
Through our instant systems that are bank linked you can get the payment history as at whenever you need them.
Do you have flexible payment plans that are long term?
Yes we have a flexible payment plan that extends to 2 years.
How do I finance the purchase of a property?
There are several financing options available, including getting a mortgage loan from a bank or financial institution, using personal savings, or obtaining funds from private lenders.
Do you allow payments via Mpesa?
Yes we have Mpesa payment through our paybill numbers
Legal FAQs
Can I handle the legal documentation myself?
For the legal documents both the vendor and the purchaser have their scope to handle which is advised by their legal advisors.
Do I need a lawyer when buying a home?
While it may not be a legal requirement in all jurisdictions, it’s highly recommended to have a real estate Advocate involved in the home buying process. An advocate can review contracts, handle legal paperwork, conduct title searches, ensure compliance with local regulations, and protect your interests throughout the transaction.
What is a sale purchase agreement?
A purchase agreement, also known as a sales contract or purchase contract, is a legally binding document that outlines the terms and conditions of the sale between the buyer and seller. It includes details such as the purchase price, financing terms, contingencies, closing date, and any other specific terms agreed upon by both parties.
What ownership document do you issue after completing payments ?
A homeowner gets sectional title deed after the unit is complete and handed over.
What are the penalties if I default in my payments ?
Penalties to defaulted payment is 10% of the amount defaulted.
Is Starehe Point present on other digital platforms?
Starhe Point is on the company platform and also is on the government platform (Boma Yangu).
What is the process followed when cancellation of purchase ?
When cancelling a purchase you write to use on your intentions to cancel, and based on the purchase stage that you were at we advise you on what documents to remit back and as we initiate the refund which has a maximum of 10% deduction again this depends on the purchase stage.