Cretum Properties on Tuesday launched a Sh22.7 billion real estate known as Green Isinya City. The office blocks, maisonettes, schools, high end eateries and police stations will sit on 1,000 acres in More »
Set on a ten-acre estate, the Hogmead residence is now one of the priciest commodities in Kenya’s residential property market, confirming the growing status of Kenya as a prime real estate location More »
The Global Real Estate Transparency Index ranked Kenya top among 14 most improved countries in real estate transparency globally. The Index by consultancy firm Jones Lang LaSalle Index uses a combination of More »
Property owners in leafy Nairobi suburbs are taking down stand-alone houses and replacing them with higher density apartments targeted at the luxury market.According to Villa Care chief executive, affluent Kenyans and expatriates are the main driver of demand in locations such as Lavington and Karen.
“Prices of land and the unavailability,are the reasons why many buyers continue to prefer buying apartments,” Ojijo said.Developers are not economizing on space or finishing, and are equipping the apartments with amenities such as saunas, swimming pools, gyms, clubhouses, manicured gardens, Jacuzzi’s, basketball courts and jogging tracks.
Various property developers in Nairobi have been ordered to stop construction of commercial buildings for failing to meet government regulations.
In a campaign that launched on Friday to ensure developers met the regulations, the National Construction Authority (NCA) found out that cowboy contractors were involved in construction work.
The two-month campaign came in the wake of collapse of buildings in Nairobi, the latest which involved a seven-storey building in Huruma area, barely two weeks after a similar incident in Makongeni.
“All buildings should be a constructed by an authorized contractor who is under National Construction Authority,” said NCA Senior Investigator Chrispus Ddinyo, who led a team of colleagues on a tour of Thika Road neighborhoods where the campaign was launched.
The Government expects to earn Sh7 billion over the next six months from Capital Gains Tax which comes into effect from January 1, 2015.
This comes as the revenue office lifts a 30-year-long suspension on taxing gains made from the transfer of property and securities, a move that has caused disquiet in some quarters. “Kenya cannot hope to enhance tax mobilisation and improve tax productivity as long as fiscal policy continues to shield high growth sectors from taxation,” said John Njiraini, KRA Commissioner General.
Property developer Home Afrika is planning to make multi-billion shillings investments in what it said are mega housing projects across different counties in its bid to tap into the county system of government.
The firm is embarking on a county focused strategy dubbed ‘Go County’ revolving around the devolved system in Kenya. The firm said it expects to play a part in the decongestion of major urban areas by developing alternative satellite cities across Kenya.
In the plan, the developer hopes to capture the middle and low income market segments that it notes have largely remained neglected by current market players.
Already Home Africa has three real estate projects in counties outside Nairobi and said it has lined up investments in other counties, namely Lakeview Heights in Kisumu County, Llango in Kwale County and the multi-billion Migaa project that is under construction in Kiambu County.
Three investor companies from America, Britain and India have teamed up and launched what is to be Kenya’s most affordable brick and mortar gated community houses.
The companies, Blue Haven Initiative which is a family organization from US, has partnered with Metropark Developers and Housing Infrastructure from India together with Housing Infrastructure to put up a Sh3 billion housing project in Athi River.
The project which will be Known as Karibu Homes will be made up from 1,082 houses on a 20-acre plot in Athi River which is just a kilometre off Mombasa Road.
Cretum Properties on Tuesday launched a Sh22.7 billion real estate known as Green Isinya City. The office blocks, maisonettes, schools, high end eateries and police stations will sit on 1,000 acres in Kajiado County. The infrastructure begins in the next two weeks followed by ground-breaking in February next year.
There is a lot of activity that is going on as the the largest mall in East Africa, is slowly taking shape along the Thika superhighway. Once it is complete, Garden City Mall which is financed by a U.K.-based private equity firm, will have 50,000-square-meters of retail, a four-acre central park as well as an outdoor concert arena of 500 homes.
The last four-to-five years have experienced turbulence in developed property markets around the world, while Kenya has remained relatively stable. Kenya’s property market has potential for higher rates of return as compared to other jurisdictions. It is also easier for foreign investors to enter Kenya’s real estate sector.
Property markets in India, Dubai and China have boomed over the last 15 to 20 years, these are markets which have big bubbles and have potential to explode anytime.
What do you do when you find that the fancied painting you bought does not fit into a standard wooden or metal frame? Store it and let it gather dust? There’s no need to do that, says Mr Benson Hinga, a freelance interior designer, who told DN2 that there were many options that could still look appealing against your walls or wallpaper. And while you might think some of them are unusual and possibly awkward, the interior designer says they achieve the first rule of décor, which is to create variety in the house.
Hangers If you think hangers are just for hanging towels and other items that you dont’ want on the floor, you need to get a bit more imaginative since, according to Mr Hinga, there are limitless ways of using them. “Wooden hangers, for instance, are perfect for holding prints or posters as they make the print or poster appear to be part of the wall. If you want your poster to hang taut against the wall, it’s advisable to clip a hanger to the bottom as well,” he says. You will achieve the best pattern if you hang them in a straight line as they create a continuous display of your wall hangings.
Real-estate firm Lifestyle Apartments is putting up a Sh1.6 billion gated community targeting high and medium-income earners. The developer has announced it will construct 310 units along Mombasa Road over the next two years. The units will include 230 two-bedroom apartments and 80 three-bedroom apartments targeting expatriates and mid-level managers.
The company said the project, dubbed Lifestyle Terraces, opted for the Mombasa Road site due to its proximity to shopping malls and the railway station.
“It is near social amenities like airport and the Syokimau railway station to offer swift connectivity. The newly constructed Gateway Mall on Mombasa road is just a five minutes walking distance from Lifestyle Terraces,” said Peter Karoki, a director at the real-estate firm.
Right on the corner of Chania road off Ngong- Kilimani, is a new commercial building with approximately 40 office suites on five floors ranging in size from 60 square meters to 165 square meters. The workers at the site are busy with the finishing touches as the building due to be completed in one month. CnC Property Managers, the selling agent of this development say the property is totally let out and 70% sold. Just right across the street is an old partly demolished residential building with a notice of change of usage from residential to commercial.