Category Archives: real estate investments

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.

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.

New Housing index out as Nairobi property market slows.

The bankers’ lobby group will today unveil a housing price index, promising to give the property market a tool to analyse factors that inform price movements.The Kenya Bankers’ Association first announced the index last September. The lobby says the index will track changes in overall prices and property specifications.

KBA hopes the index will form a key source of information for policy makers moving forward.“The KBA Housing Price Index will supplement the consumer price index and private sector credit data on which the Central Bank relies to formulate its monetary policy,” KBA said in a press invite yesterday.

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.

Kenya government to earn Sh7b windfall with new Capital Gains Tax.

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.

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.

Kenya’s Commercial Real Estate in Top Gear

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.