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- Housing demand in Kenya is estimated at 250,000 units annually.
- With a supply of only 50,000 new houses annually, there is an 80 per cent annual housing deficit.
- President William Ruto has detailed his plan to deliver 200,000 housing units annually.
Kenya has had an ambitious plan to address the housing shortage in the country, with the two past regimes placing affordable housing as one of the key priorities.
Housing demand in Kenya is estimated at 250,000 units annually. With a supply of only 50,000 new houses annually, there is an 80 per cent annual housing deficit.
The previous government led by former President Uhuru Kenyatta had an Affordable Housing Programme that had targeted to deliver at least 500,000 units by last year, but failed way below with less than 10 percent of intended units being delivered by 2022.
President William Ruto has detailed his plan to deliver 200,000 housing …
Jenga Leo is a coworking space based in Nairobi and offers workers several benefits, including high-speed Wi-Fi and air condition. The company offers several facilities, including a Skype and podcasting room and a childcare centre. Others are a yoga studio and gym room.
The administrator said the company’s innovative concept capitalises on that trend by bringing health and work together in one accessible place.
“The name itself plays by creating ‘building blocks’ as part of an organisation’s desire, with Jenga meaning ‘build’, ‘leo’ meaning today.
Hence, the concept takes building today to create the foundation of a workplace dynamic that allows for one’s mind, body, and soul to flourish.…
- Land prices in Nairobi’s suburbs and towns maintained a mild upward growth in the fourth quarter of 2021
- Prices in the suburbs increased by 0.34 per cent over the quarter, while in the satellite towns, growth stood at 1.4 per cent
- The appreciation was on the back of several factors including the implementation and conclusion of vast infrastructure projects promoting accessibility and opening up areas for Real Estate investments
- Gross loans advanced to the Real Estate sector increased by 3.2 per cent to KSh 463.0 billion in the third quarter of 2021, from KSh 448.0 billion in the first half of 2021
Land prices in Nairobi’s suburbs and towns maintained a mild upward growth in the fourth quarter of 2021.
Data collected by property experts HassConsult indicated that prices in the suburbs increased by 0.34 per cent over the quarter, while in the satellite towns, growth stood at 1.4 per …
Kenya’s construction industry is projected to grow by up to 3.9 percent this year, according to a new report by the Architectural Association of Kenya (AAK).
The report, dubbed Status of the Built Environment report, AAK however cautions that the growth can only happen if there is no repeat of the strict lock down that were implemented in the country last year after the emergence of the coronavirus pandemic.
The report says growth will be driven by several factors among them a sharp recovery in output levels compared to periods when works were not permitted or were severely restricted in 2020.
“In 2021, the construction industry is expected to improve, assuming a slowdown in COVID-19 cases and recovery in the global economy,” the report notes.
Kenya to start construction of double decker highway as World Bank consents to funding
The report notes that the second quarter of the year, for …
Listed real estate is also expected to continue performing poorly in 2021 with the Fahari I-Reit having opened the year at a relatively low trading price of Sh5.8 per share.
This is coupled with the expected negative performance of the office sector and lack of investor appetite in the instrument due to negative investor sentiments.…
The firm has undertaken assignments in 50 of the 54 African countries and employs more than 500 people in its network of over 20 local offices.
This latest partnership comes at a time when the firm’s latest London sales and lettings reports show that June was a record-breaking month for sales transactions, lettings, viewings and new prospective tenants registering.…
The Nairobi urban fabric will soon feature a new landmark with the development of a world-class medium density housing complex for the U.S. Department of State.
This project marks the first development in Kenya in a joint venture by Gateway Real Estate Africa (“Gateway Africa”) and Verdant Ventures, following a successful collaboration on a similar project in Ethiopia.
Gateway Africa is a Mauritius-based private real estate development company specializing in the turnkey construction of accommodation for multinational corporations and retailers wishing to expand their operations on the African continent. Verdant Ventures is a US-based real estate development company focused on diplomatic housing in Africa. The landowner, Nebange Limited, will be a profit participant in the partnership.
According to Greg Pearson, founding member and CEO of Gateway Africa, and Russ Murphy, CEO of Verdant Ventures, this project further cements the relationship between Gateway Africa and Verdant Ventures following our successful collaboration …
Real Estate developer Superior Homes Kenya is putting up a Sh7 billion ($68.8 million) residential development in Kenya’s coastal town of Kilifi, as it moves to expand its real estate portfolio in the country.
Dubbed ‘Pazuri at Vipingo’, the master-planned site will consist of 372 houses and associated infrastructure and amenities covering more than 100 acres.
READ ALSO:Property developer superior homes announces Sh30 billion investment
The development, which commenced early this year, consists of 2, 3 and 4 bedrooms with phase One of the project comprising of 63 units expected to be ready for occupation in June 2020.
“Pazuri at Vipingo has been designed so that every house enjoys an ocean view. Large plot sizes, spacious bedrooms and open plan lounges, generous window sizes and rooftop entertainment space all combine to provide a wonderful home whether it is for a residence or a holiday home,” Superior Homes …