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Two Rivers Development Limited has submitted regulatory filings to the National Environmental Management Authority seeking to begin construction of Mizizi Court, a residential development.The project comprises the construction of affordable home units within the Two Rivers Development. Mzizi Court development will include fourteen blocks of seventeen floors each, composed of one, two and three-bedroom+DSQ apartments.The development will be built on several sub-plots measuring approximately 6.7 acres bordering the ongoing River Bank housing project and separated by Road 4 to the North West boundary all the way to the Northern Bypass road.Upon completion, the project will have an exit on the Northern Bypass road.The Mzizi Court development will have 1,650 units in line with the Kenyan government’s goal of delivering 500,000 affordable homes under the Big Four Agenda.The government has called on private developers to partner with them in developing the units. Set in a tranquil environment within the Diplomatic Blue Zone, in Nairobi’s Gigiri area, Mzizi is an affordable residential development by Centum Real Estate.

London listed Pan African real estate firm, Grit, has announced plans to build 10, 142SQM of warehousing space in Mlolongo.

Grit Real Estate Income Group revealed in its annual report that the project will help it grow its logistics presence in the country. Proximity to the Standard Gauge Railway and the Jomo Kenyatta International Airport (JKIA) and the Inland Container Depot has made Mlolongo and Syokimau attractive locations for storage and logistics providers based on increased access and connectivity.

The land to be developed is located adjacent to Grit&rsquo;s pharmaceutical warehouse which currently hosts the Imperial Health Sciences facility in the prime airport industrial district of Mlolongo.

The company said the development of the prime logistics and warehousing facility will begin in 2021 with completion projected in 2022.

In the report, the firm also revealed it&rsquo;s in the process of closing a KSh.4 billion sale-and-leaseback acquisition of the 29,243SQM manufacturing facilities from Orbit Africa, a consumer goods manufacturer.

The <a href="https://estatecloud.co.ke/grit-real-estate-to-complete-acquisition-of-nairobis-orbit-africa-warehouse/" style="color: #ff6600;">transaction</a> will see the land change ownership from Orbit Africa to Grit, while the former will maintain occupancy of the precincts as a tenant.

Grit said it has reached a 23-year development lease agreement with Orbit Africa that will include expanding the facility by an additional 14,741SQM which incorporates refurbishments on a built-to-suit model.

The Pan-African real estate <a href="https://grit.group/" style="color: #ff6600;">group</a> had in January announced plans to close the deal within the first quarter of the year, giving it 100 percent shareholding of the property, which did not materialize.

&ldquo;The acquisitions are in line with Grit&rsquo;s strategy of acquiring superior quality assets tenanted by blue-chip multi-national companies under long-term, hard currency leases, whilst further enhancing the quality and diversification of the portfolio in terms of tenant, geographic and sector exposures,&rdquo; the company had said.

Authorities in Nairobi County have approved the KSh 6.5 billion residential property development at the Garden City Mall after eight months.

The approval gives the developer a nod to commence construction of the 628 unit residential development. The project will comprise three high-rise blocks of 13-floors containing one, two and three-bedroomed apartments.

“We finally got our approval from the county authorities last Friday. It has been a long wait but we assure customers that construction will be completed on schedule,” said Mi Vida CEO Chris Coulson.

The project which is a <a style="color: #ff6600;" href="https://estatecloud.co.ke/actis-partnership-with-idian-firm-to-produce-600-housing-units-for-kenya/">joint venture</a> by India’s conglomerate Shapoorji Real Estate (SPRE) and UK equity investor Actis has already sold 93 units off-plan in phase one, most being one-bedroomed apartments by investor-buyers according to Business Daily.

The two firms announced the Ksh. 12 billion joint venture last year, with a target of developing 3,000 units for the middle-class population in the next few years.

Esteel Construction, the firm’s contractor, is expected to complete construction of the first 208 units within 24 months.

“We fund projects to completion without seeking alternative costly funds like bank loans. Buyers signing contracts for the properties will receive their units on schedule,” he said.

The sluggish pace of development approvals has affected many property developers in the Nairobi with industry stakeholders forecasting a contraction in construction activity for 2020.

Related; <a style="color: #ff6600;" href="https://estatecloud.co.ke/property-developers-overwhelmed-by-middle-income-housing-demand/">Property developers overwhelmed by middle-income housing demand</a>

County okays construction of Sh. 6.5 billion residential development

Grit Announces Plans to Grow Logistics Presence in Nairobi

Habitat for Humanity’s Terwilliger Center for Innovation in Shelter, BDO EA and Pangea have launched the ShelterTech 2018 program in Kenya which will provide support to working in the area of energy, water, and general housing construction technology.

The programme will work with 30 startups, helping them to grow their businesses, connect with mentors and advisors, and gain exposure to investors.

SheltetTech aims to facilitate housing markets in meeting the needs of the low-income households. It will focus on startups disrupting the housing industry with alternative building technologies that value resource conservation, improved access to low-income housing, or improve the quality and living conditions of people in underserved areas.

It will identify, nurture and accelerate Kenyan start-ups and growth-stage companies that create shelter products and services for the low-income household market.

The ShelterTech Accelerator Kenya brings together entrepreneurs, government, corporations and development partners in mapping out and showcasing innovation in improving access to shelter.

With over 94 applications from across Kenya, the program launch will provide a six-month acceleration program to the selected startups, giving them access to expertise, networks and the chance to win investment of up to US$50,000 into their business.

The ShelterTech Accelerator Kenya, is implemented by BDO East Africa in partnership with Pangea Accelerator, a Norwegian platform connecting African startups with international investment and expertise, and Strathmore University’s @iBizAfrica.

“The ShelterTech Accelerator Kenya will contribute to the government of Kenya’s affordable housing pillar that aims to have at least 500,000 affordable homes in all major cities while ensuring 350,000 people get jobs in the housing sector by 2022,” says Jane Otima, Habitat for Humanity’s Associate Director for Market Systems and Entrepreneurship.

This is ShelterTech’s African debut, following successful implementation previously in Mexico and currently in India. The program which is also supported by the IKEA Foundation and the Hilti Foundation, runs from November 2018 to May 2019.

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Investors and construction companies in the country have stepped up their bid to narrow the skills gap in the country's construction sector. The Garden City Youth Development Program has entered its second training phase that will see 150 young trainees equipped with vital technical skills for the local construction industry.

The Garden City Corporate Social Responsibility (CSR) Program is part of a partnership between Garden City developer, Actis, the largest real estate private equity investor in Sub-Saharan Africa, and Arc Skills, an international Skills Development Company with operations in Kenya.

Launched in 2016, the program is designed to equip young trainees aged 18-35 in and around the Garden City area with quality, practical training that meets global standards, to help bridge the local construction market’s current skills gap.

A total of 283 young men and women were trained in a range of building and construction trades during the first phase of the program and were involved in the construction of Garden City residences (215 apartments, duplexes and townhouses built in two phases, now completed and occupied by tenants and homeowners).

‘‘Trainees in this latest building phase will be part of the construction team for Garden City Business Park where they will have the opportunity to get the practical, hands-on experience they need to get their qualifications. The first two commercial office blocks are currently under construction and East African Breweries Limited (EABL) has already taken up 60% of the premium office space after signing a long-term lease with Garden City earlier this year,’’ commented Chris Coulson, Managing Director, Garden City.

Related; <a href="https://estatecloud.co.ke/garden-city-business-park-breaks-ground-on-phase-one-office-complex/">Garden City Business Park Breaks Ground on Phase One Office Complex</a>

The first batch of 22 trainees from the new construction phase graduated today and received certification in plastering after receiving six weeks of competency-based technical training, assessment and certification from Arc Skills, the program manager.

‘‘The focus of training is on developing construction industry skills to align with the expected jobs generation profile of the Garden City developments. With this training, we want to empower youth with skills to enhance their chances of securing income generating opportunities,’’ noted Stephen Kimenye, Project Manager, Arc Skills.

The training is conducted in groups of 25 on a six-week basis and is aligned with the timeline of the ongoing construction of the Business Park and skilled labour needs of the development. On completion, students receive an internationally accredited certification from the Australian Vocational Training and Employment Group (AVTEG).

The vocational curriculum is based on Australian occupational standards and industry best practices and is tailored to meet both local standards and labour market needs. The mode of training is practical and modular, with the entire training taking place on live construction sites such as the Garden City Business Park.

Last year the Kenyan government, in partnership with China, launched a similar <a href="http://www.xinhuanet.com/english/2017-11/28/c_136785253.htm">program</a> to boost training and mentorship for youth keen to work in the country's blossoming construction industry.

Garden City to train 150 youth on technical skills for the construction industry

Africa’s hotel sector has the potential for further growth over the next five years. Increasing the number of foreign and domestic travellers, as well as a swelling a number of hotel chains on the continent has continued to boost the hotel industry’s untapped potential.

PwC’s Hotels Outlook: 2018-2022 sheds light on the hotel industry in major markets including South Africa, Nigeria, Kenya, Tanzania and Mauritius.

The report projects that hotel room revenue for the five markets will increase at a 7.4% compound annual rate in 2017. In East Africa, Kenya and Tanzania are expected to see an increase in hotel room revenue of 9.6% and 9.1% respectively.

Kenya, which experienced a drop in visitors following the contentious elections of August 2017 began recovery around December with an increase in visitor numbers resulting in 9.9% overall growth. However, the total effect was a 13.5% decline in room revenue.

“We expect tourist arrivals to Kenya to increase 8.8% in 2018, building on the pickup in December 2017. Going forward, assuming a period of relative stability, we expect tourism to Kenya to increase at a 6.9% compound annual rate, rising to 2.06 million visitors in 2022 from 1.47 million in 2017,” says the report.

Hotel room revenue in South Africa rose 4.6% in 2017. Five-star hotels had the highest occupancy rates in the market in 2017, at 79.5%. According to the report, the average daily rate (ADR) growth for five-star hotels in 2017 slowed for the market as a whole. However, five stars experienced an 8.8% increase, well above the increase for three- and four-star hotels.

The report also projects that most of the hotel openings scheduled for the coming years will be four-star hotels, leading to a projected 2.4% compound annual increase in available four-star rooms over the next five years, an equivalent of 76% of the total increase in available rooms for all hotels in South Africa.

The number of four-star hotels opening in 2017 increased the available rooms by 1.8%, the first rise since 2013. Meanwhile three-star hotels accounted for 31% of total hotel room revenue in 2017.

Nigeria and Mauritius continued to perform well in 2017 with both markets achieving double-digit growth in the hotel industry whereas Kenya and Tanzania saw a decline in room revenue. PwC projects that the number of available rooms in Nigeria will rise from 9,700 in 2017 to 12,600 in 2022, a 5.4% compound annual increase exceeding that of all the other markets covered.

In Mauritius hotel room revenue increased by 12.7% in 2017 as the country continued to welcome growth from the number of foreign visitors. Its hotel room revenue is projected to grow at a 7.2% compound annual rate to 2022.

Tanzania’s hotel room revenue amounted to US$206 million in 2017, a decline of 5.5% over 2016 due to a drop in guest nights. However, the report cites strong economic fundamentals to project a growth of 10.2% for 2018.

Tourism remains an important part of the hotel industry in all the five countries. However, it is susceptible to abrupt changes which might have a profound impact in any particular market. Overall, there is a good case for growth in all the markets over the forecast period. Of particular importance, according to the report’s conclusion is how all stakeholders and governments can work together to grow industry.

Estate Cloud

Estate Cloud

Centum To Build 1650 Affordable Units In Two Rivers

By Estate Cloud - over 2 years ago - Kenya

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