Furnished apartments continue to attract the highest investments in Kenya, compared with residential and office blocks in the same areas, surveys by private sector players show.
Recent surveys by Hass Consult, Kenya Bankers Association and Cytonn Investments, among other firms, show that demand is rising for high-end furnished apartments fitted with wireless communication equipment and gyms.
Confirming the findings, Mr Amos Ngonjo, owner of the newly-opened Gramo Suites apartments, told the Sunday Nation that expatriates prefer well-equipped facilities that enable them to hold in-house meetings, exercise and work from home.
“Unlike in the past when one merely ensured that accommodation facilities had water and a working television set, times have changed. An investor has to ensure the facility has a working Wi-Fi connection for patrons to download, upload and hold one-on-one teleconferencing meetings,” he said.
He said expatriates provide details of the services they require and these are factored in when designing new buildings.
Some buildings have 24-hour restaurants and pubs, as well as clubhouses for residents to entertain visitors while retaining their privacy.
The director said that in Kileleshwa, Nairobi, furnished apartments are highly sought and provide investors with higher returns than residential houses do.
Gramo Suites, managed by Trianum Hotels, has penthouses, one-and-two bedroom units, studio apartments, a swimming pool and gym.