Category Archives: property in Nairobi

Chinese property developer pressing on with an upmarket holiday resort project in Kenya

Sultan palace Development Limited, a Jiangxi Xinyu Real Estate Development hopes for beach retreat. The property developer is working on a holiday resort project in Kenya’s coastal town of Kikambala which is about thirty minutes drive from Mombasa, one of Kenya’s biggest tourist resorts. Despite the travel advisory imposed on some areas in the Country by some other Countries, the project is still taking shape fast.

Although the tourists frequenting Kenya’s coast number has declined recently due to security concerns, the company says there is no reason as to why the country can loose on projects like these affecting the market, especially with the standard gauge railway set to be completed in 2017. The line once complete will shorten the journey times between Nairobi and Mombasa as the country’s middle class continues to grow. The line is as well expected to fuel a boom in domestic tourism.

Currently it takes at least 19 hours to travel between the two cities, however, this will be reduced to about four and a half hours to cover the 500 kilometers.

Is seeing believing? For some off-plan buyers, brochures do not tell the truth.

In 2013, Ms. Juliet Mazera decided she needed a house to call her own. After searching all over Nairobi for a house that would fit the bill of what she wanted, she stumbled upon a swanky gated community off the new Thika Highway on Kamiti Road.

The property development, which we cannot name in this article because the developers refused to talk to us, was the perfect place to be; the houses were modern, the location just a few minutes’ drive from Nairobi, the gardens lush, the walkways carob-paved, a huge perimetre wall to ward off louts, they were putting up a school inside the development… everything was perfect, and Ms. Mazera was hooked.

Seeing-is-believing

At the time the idea of gated communities was just beginning to pick up, and this was high up there in the quality and affordability scale. Phase One and Two were already complete, and oh, weren’t they beautiful on the glossy brochures! “For Sh7.6 million, we were offered a three-bedroom house in a gated community that had a fitness Center, a clubhouse and abundance of fresh air, among other appealing attributes,” says Ms. Mazera.

Prices of posh homes drop as supply rises in Nairobi.

Luxurious homes in kenya

 

Prices of luxurious homes in Nairobi fell slightly during the first three months of the year, according to a Knight Frank report. The Knight Frank Prime Global Cities Index quarterly report released last week ranks prime residential markets in 35 cities worldwide. It states Nairobi recorded a one per cent decline in prices of posh homes between December 2014 and March 2015.

Supply of high-end homes slightly exceeded demand, mainly due to developers responding to the rising foreign investor interest in Nairobi over the past few years. This is in addition to an expanding pool of local high-net-worth individuals seeking to buy trophy homes. The moderate growth in supply created room for price negotiation between buyers and developers, Knight Frank added.

Valley View Business Park offers tranquil serenity in a bustling city.

Valley View Business Park

The Valley View Business Park is proof that functionality is not the only factor that property developers consider when designing a commercial space. If anything, opulence and lavish comfort can also be part and parcel of the final product. The business park, an 11-storey twin towers, took three years to construct and is now ready for occupation.

According to Villa Care Limited, the selling and letting agents managing Business Park, interested parties seeking to occupy the facilities can do so from as early as Tuesday this week to May 10, 2015.Situated near Nairobi’s City Park; it is sandwiched between the Mathare River and Muthaiga estate, as well as the proposed M15A highway and City Park Nature Reserve.

Firm plans 387-acre housing estate in Limuru

The plan by Red Coral Properties Limited will see 3,304 housing units built on 172 acres of land and development of commercial and retail space done on 39 acres. Also in the plan are 17 light industrial developments, particularly warehouses and logistics facilities.

The company will be designing middle and upper class buyers and is counting on the proximity of the property to Nairobi to attract a market. The estate will be designated along such other developments in Kiambu that have taken advantage of huge parcels of land previously used for farming.

Cheap housing concept unveiled in Kenya

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.

Slowing Real Estate in Kenya Offers Cheap Entry

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.

Cheap and easy ways to display art

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.