The Kenyan town of Eldoret, which a few years ago was still under-developed and sleepy, is witnessing a big change in its landscape. All thanks to the internationally acclaimed Kenyan athletes who are investing their accumulated fortunes in real estate.
Kenya has cut itself a niche in the world of athletics. Every time one of its athletes steps on the podium, there’s a big cheque that follows which could mean a boost for the fastest growing Kenyan town of Eldoret.
These sportsmen feted abroad prefer to keep a low profile in their home country. Most of them, in the likes of Moses Tanui and Lornah Kiplagat, have their ancestral home in and around town.
“You invest because you cannot run all your life. There comes a time when you slow down.” says Alfred Kirwa former 800 metres World champion. “Athletics is dynamic, new stars are born everyday and age catches up with you at some point. Investing is a cushion when the cheques are no longer coming in,” With a keen interest in real estate, he owns several apartments for rental around Eldoret.
"We want to be like any other investor. Athletics is our business and you have to build a good foundation or you will go back to where you started. And Eldoret is a good place to invest as it is growing very fast." says former 10’000 metres World champion Moses Tanui, sitting at the reception hall of his magnificent and popular hotel in Eldoret.
Even though some of these top runners have adopted other countries as their new home, they have not stopped investing in Kenya. Kenyan born Dutch runners Lornah Kiplagat and her cousin Sylvia Kibet are among them. Kiplagat is believed to own a few buildings and has a lot of business interests in Eldoret.
However, for security reasons and not wanting to be constantly pestered, most of them don’t want the identities of their businesses to be revealed.
Petro, a charming middle aged man with a disarming smile manages the property of some of these athletes.
"My job will be on the line if I mention the names of my bosses; but I can tell you that they are young men and ladies, some in their twenties with money to spend.” he says.
"The athletics money has completely revolutionised investments in Eldoret. They leave here as young and inexperienced villagers and after a few races they are millionaires with enough money to put up commercial buildings, build expensive homes and drive luxury cars.”
Although wanting to remain discreet and rather talk about their professional careers as runners instead of their investments, the athletes cannot hide the fact that multi-storeyed buildings, palatial homes and big hotels are popping up like mushrooms in Eldoret and that they have something to do with it.
But most important of all it is injecting a sense of optimism in town. “Eldoret was not like this 5 years ago. I have a job thanks to athletics.” says Petro.
ShareThis