Real estate sector attracts investors amid high returns
Kenya’s real estate sector is attracting big investments across the country and the east african region as investors seek to cash in on increased infrastructural development, huge housing deficit, high returns amid stable political climate environment.
The past months have seen several investors announce projects that include building of houses, large scale commercial and residential developments, malls, student hostels, office blocks and hotels. The huge investments complement government’s announcement to build 100,000 housing units across the country under the Big Four Agenda proposed by President Uhuru Kenyatta.
Data from the Nairobi County Housing Department show that the value of approved building plans stand at an average of Ksh 250 million a month, up from Ksh 200 million last year. According to victoria Wambui, sales executive at Dunhill Consulting, the boom has been attributed by the stable political environment following the unity pact between President Kenyatta and his rival in last year’s polls Raila Odinga, with developers taking advantage of the environment to launch projects.
Analysts expect real estate investment in the East African nation to pick up in the coming months, with both local and foreign firms investing in the sector. Dunhill Consulting has continued to provide high end and exclusive properties both commercial and residential.