Three bedroom apartment to let in Westlands

Five bedroom all-ensuite townhouse for sale

A spacious and luxurious townhouse to rent in Parklands

Three bedroom apartment to let in Parklands

Parkwood villas 4br syokimau

Tilisi 3br apartment

Great wall 3br apartment

Lavington offplan apartments

Makumbi apartments syokimau

Market, Along Manyanja Rd, Nairobi, Kenya

Umoja block sale apartment

4br townhouse own compound

MOONVALLEY 2br kileleshwa

Studio, 1-3 bedrooms Apartments

3-Bedroom Apartment

3-Bedroom Apartment+Dsq.

Studio,1,2 & 3 Bedroom Apartments for Sale

Yaya Centre, Argwings Kodhek Road, Nairobi, Kenya

One-Bedroom Apartment

2-Bedroom All En-suite

3 Bedroom Master En-suite + Dsq

3-Bedroom (Two En-suite) at Kileleshwa

One-Bedroom Furnished Apartment

2-Bedroom Fully Furnished & Serviced Apartments

2 Bedroom Apartment

Godowns For Sale in Industrial Area

E-Logistics Solutions Limited, The Eco Green Business Centre, Kenya

Grade A Warehouse

Commercial Building

Commercial Office Space

4-Star Hotel

A block of studio apartments is set to be constructed in Nairobi West by real estate development firm, West of Nairobi Ltd. The company has filed documents with the environmental regulatory body (NEMA) to build the thirteen-floor structure which will consist of a basement and a mezzanine, and is located along Gandhi Road in Nairobi West.

The site measures 0.1666 of an acre. The Nairobi West and South B areas have gained favour with investors for studio apartments in recent years following growth in the area&rsquo;s population and its proximity to Nairobi&rsquo;s CBD.

Nairobi County government approved the project plan according to the Environment Impact Assessment report. The plan shows a one block apartment with thirteen floors all of single rooms, with washrooms

. Each of the building&rsquo;s floor will host fifteen units, a total of 195 studio units for the 13 floors. The project will also have a basement floor for parking and a mezzanine floor. Associated facilities include solar panels, water tanks, modern elevators, a CCTV system and garden.

The developer said the project will contribute to the availability of decent and affordable housing in the <a href="https://www.wantedinafrica.com/area/nairobi-west" rel="noopener noreferrer" target="_blank">Nairobi West</a> area with units set to be sold at a price of Ksh. 2.5m per unit.

The Government has partnered with strategic partners, both private and public, to realize the affordable housing goal.

Incentives have been created in form of tax and fee waivers to facilitate the growth of the Housing sector.&nbsp;

The government has begun work on the second phase of the Nairobi Sewerage Improvement Programme.

The project which is funded by the African Development Bank and the French Development Agency is part of the Nairobi Rivers Rehabilitation and Restoration Program which aims at the restoration of Nairobi Rivers Basin.

It seeks to increase access, quality, availability, and sustainability of wastewater services within Nairobi and its surroundings including downstream locations.

Phase one of the project increased urban sanitation coverage in the region from about 40% in 2012 to approximately 48% in 2017.

The second phase of the project involves the rehabilitation and construction of wastewater treatment facilities at Dandora and the construction of 220km of sewer reticulation network including faecal sludge management infrastructure.

In addition, it will see the construction of 50 new ablution blocks and the rehabilitation of 50 already existing ablution blocks within Nairobi informal settlements.

The project is expected to further improve the provision of reliable, safe, and sustainable urban sanitation services in Nairobi, and will improve the economic environment.

In Kirinyaga County, the Ministry of Sports, Culture and Heritage has begun <a style="color: #ff6600;" href="https://constructionreviewonline.com/2020/09/kenya-begins-construction-of-wanguru-stadium-in-kirinyaga-county/">upgrading</a> Wang’uru Stadium in Mwea.

The project which follows a presidential directive has been allocated over Ksh. 280 million to complete the works. The upgraded facility will enable local athletes to access a better sporting environment.

Works to be completed include the construction of concrete and steel stadium pavilions, standardization of the pitch and race tracks, recreation facilities and changing rooms, perimeter wall and related support facilities.

The project is expected to be complete within six months.

Read; <a style="color: #ff6600;" href="https://estatecloud.co.ke/centum-to-shift-more-weight-from-real-estate-to-private-equity/">Centum To Shift More Weight From Real Estate to Private Equity</a>

Kenyan real estate is demand driven, going by the shortage of supply in most parts of the housing market. Developers and other providers never seem to satisfy the pent-up demand for shelter in the country, whether for houses or apartments. While it is impossible to detail the market in a single article, a survey by DataFintech profiled Kilimani and Kileleshwa, showing data for houses and apartments demand for the period from September 2015 to September 2017.

The data, collected from online real estate listings, reveals that demand for apartments outweighs demand for houses in both locations.

Kilimani, known for its proximity to the CBD, social amenities and security, is a popular stay for a majority of expatriates. According to DataFintech, the demand for apartments in Kilimani is high (93.3%). 3-bedroom apartments have the highest demand at 66.7% notwithstanding that the buyer of such would need to indulge about 11 to 15 million of the Kenyan currency. Yet such an invitation to massively spend still drew an effective demand of 52.9%, suggesting demand is quite high. 2-bedroom apartments in the same area had relatively low demand at 23.3% while demand for 4-bedroom apartments was just 3.3%.

Kileleshwa, popular among refined townsfolk and known for its serene environment and proximity to top-notch facilities, is the preserve of the so-called Kenyan upper middle class; being arguably one of the most conducive places to raise a family. Here still, apartments lead in demand for 3-bedroom residential property.

The 3-bedroom apartments, priced between Ksh. 15 Million and Ksh. 20 Million have the highest effective demand standing at 71.4% while 2-bedroom apartments had a demand of 42.1%. In stark contrast, demand for houses in Kileleshwa for the same period was just 10.5% on aggregate even though supply was also low at 8.7%.

Ideally, tenants and potential home owners are searching for secure neighborhoods with adequate utilities, proximity to the CBD and social amenities such as schools, shopping malls etc.

&nbsp;

Buyers and Tenants Prefer Apartments to Houses in Kilimani, Kileleshwa

Nairobi retail markets have been characterised by mixed performance in 2020 according to an analysis by Cytonn highlighting retail trends in the Nairobi Metropolitan Area. 

The <a href="https://cytonnreport.com/research/kenya-retail-report-2020" style="color: #ff6600;">analysis</a> shows that retail property markets recorded an average rent per square foot of KES 168.5 compared to KES 168.6 in 2019. The area also recorded an average occupancy of 74.5% and average rental yields of 7.5% in 2020 compared to 75.1% and 8.0% in 2019 respectively. 

On average, retail rental rates in Nairobi&#39;s retail markets dropped by just -0.1% while rental yields dropped by -0.5%. Occupancy dropped by -0.6%. 

Nairobi Retail Markets Highlights 

Karen retail has the highest rental rates at KES 215.5/SQFT up from KES 207.9/SQFT in 2019 followed by Westlands at KES 207.5/SQFT which also saw an increase in rental rates from KES 203.6/SQFT in 2019. 

Consequently, Westlands has the highest rental yields for retail in 2020 at 9.8% from 9.2% in 2019, followed by Karen with 9.2% an increase of 0.1% from 2019.

Westlands also has one of the second-highest occupancy rates for retail property markets in the Nairobi Metropolitan Area at 80.9% even though this is a drop from 84.6% in 2019. 

Kilimani recorded the highest occupancy of the markets surveyed with an occupancy of 83.0%, which was also lower than the 2019 rate of 87.2%. 

Karen, Kiambu Road, Mombasa Road and Satelite towns recorded an increase in occupancy rates in 2020 from 2019 with Mombasa Road recording the highest increase of 6.8% from 2019. 

Eastlands recorded the biggest drop in occupancy rates in 2020 at -5.3%. Satellite towns on the other hand offered the lowest rental rates in Nairobi retail markets averaging KES 130.0 hence an opportunity for retailers such as Naivas Supermarket to take up affordable space. 

Naivas and Tuskys 

Naivas has grown its branch count in 2020 by opening 5 new branches during the year. The retailer currently has 66 branches across the country. 

The growing retailer has now for the first time surpassed the number of branches held by Nakumatt at its peak (65 branches). Naivas is projected to open an additional 4 branches bringing its total to 70. 

It has recently announced plans to open two outlets to be located at Lifestyle Mall along Nairobi CBD&rsquo;s Monrovia Street, a space previously occupied by Nakumatt. Conversely, Tuskys has had to close 14 branches during the year, with an additional 27 branches set for closure. 

The struggling retailer is expected to cut the number of branches in its portfolio from the current 52 to 25 branches. 

Nairobi Retail Supply 

The retail markets are estimated to have an oversupply of about 3.1 million SQFT as at 2020 according to Cytonn. 

Kearney&rsquo;s Global Retail Development Index in March 2020 revealed that Nairobi has the largest supply of available space in sub-Saharan Africa. As of February 2019, the city had approximately <a href="https://estatecloud.co.ke/for-nairobis-retailers-its-a-tenants-market/" style="color: #ff6600;">530,000</a> sqm, more than triple the supply in other top cities like Kampala (170,000 sqm), Lagos (150,000 sqm), Addis Ababa (60,000 sqm), Dakar (170,000 sqm) and Kinshasa (170,000 sqm).

Nairobi Retail Markets Performance Slightly Down Amidst Sizeable Oversupply

Government Begins Phase II Of Nairobi Sewerage Improvement Programme

The growth and opportunity displayed by a diverse spread of International funds, DFIs, Banks, PE firms, institutional investors and others is evidence that despite apparent indifference to African opportunities, the continent’s real estate sector has evolved, and become increasingly more liquid and provides value in key nodes and sectors.

“In the first two quarters of 2019, we’ve tracked ten significant transactions in excess of more than a half a billion dollars across multiple jurisdictions and sectors by API Summit stakeholders,” said Kfir Rusin of Africa Property Investment Summit.

“The market has moved forward in the past six months, and we’re thrilled that so many major deal makers will be at the API Summit to transact and share their experiences with our delegates,” he said.

These high value transactions, while not a repudiation of the South African listed sector’s muted view of the African opportunity, do provide a compelling narrative that the continent’s property markets are investable, but require nuance and insights. Rusin added that it’s not simply a copy and paste job where what has worked in South Africa will work elsewhere in the continent.

According to noted real estate analyst Craig Smith of Anchor Stockbrokers, Africa’s top markets are “definitely a more attractive entry point than 18-24 months ago” but cautions that investors still need to exercise a “higher level of diligence” when investing.

Smith says the transaction spread by API Summit’s investors point to a market that is expanding, which is in line with his view that the “the opportunity set over the long-term is immense.”

Meanwhile API’s have observed an increase in diversity and complexity in these deals, “We’re witnessing sophisticated deal structuring in Affordable Housing; Hospitality; Logistics; Office spaces and Mixed use, across countries and regions,” says Rusin.

The 10th annual Africa Property Investment (API) Summit will take place on October 2nd and 3rd in Johannesburg.

Read; <a style="color: #ff6600;" href="https://estatecloud.co.ke/africas-biggest-private-equity-deals-in-real-estate-over-the-last-five-years/">Africa’s biggest private equity deals in real estate over the last five years</a>

There are cities, and then there are world class cities. The latter stands out and some cities can hold their own against entire economies, but that’s for a reason. According to a 2017 JLL report, Decoding City Performance, there are 7 common features associated with established world class cities.

Corporate Presence

World-class cities boast a critical mass of corporate HQs, including a strong presence in the most globalised sectors of finance, professional services and media. Established cities are magnets for multi-nationals because they provide strategic advantage and operational efficiencies.

Gateway Functions

Established cities act as centre-points, interlinking people, investment, trade, tourism and information from different sources. These cities have the capacity to handle the high frequency back-and-forth movements in people, resources and information.

Soft Power

These cities have an established identity or brand which is a reflection of city’s core values or culture making it attractive. This is the way of doing things, which is ingrained in the DNA of any world-class city.

Infrastructure Platform

Such cities have a robust infrastructural backbone that promotes connectivity between workers, firms and visitors. Infrastructure is the physical engine which runs a city and determines its efficiency. Whether roads, commuter rails, electricity or internet connectivity, these cities have the best.

Scale and Market Site

Global cities are known for the sheer scale of population and market size that support agglomeration and provide diverse opportunities for companies, capital and people. This provides a good social and economic environment for firms and people to thrive.

Specialization and Innovation

World cities are an ecosystem of specialised knowledge and innovative energies which are utilized to produce game changing innovations in products and services. This is because high levels of competition require high levels of specialization and knowledge.

Talent

The magnitude of diversity in established world cities means they are a breeding ground for a variety of skills. There is usually no shortage of skills in any area of competency in such cities because they attract the best skilled people.

7 Things that Make a City World Class

Africa&#39;s Green Wall, the Great Green Wall for the Sahel and Sahara Initiative, is set to receive US$ 16.85 billion following pledges made by international financiers covering the next five years.

The funding is the new phase of the Green Wall project which runs across 11 countries and seeks to restore 100 million hectares of degraded land with an aim of creating over 10 million jobs by 2030.

Launched in 2007, the AU-backed project is now in its second decade having so far covered over 18 million hectares of land according to a status report unveiled by the UN Convention to Combat Desertification (UNCCD) in 2020.

The objective of the 7,000-Kilometre Green Wall initiative which stretches from Senegal to Djibouti is to stop creeping desertification through a trans-continental mosaic of green, productive landscapes that would fight land degradation and loss of biodiversity.

Current donors to the fund include the African Development Bank (USD 6.5 billion), the World Bank (USD 5 billion) and the European Commission (USD 2.5 billion). &ldquo;The timing of this [new] funding is absolutely vital, it signals a &lsquo;build back better&rsquo; plan from COVID-19 in a region where a lot of people live off the land and temperatures are rising faster than anywhere else on earth,&rdquo; said Louise Baker, the managing director of the Global Mechanism of UNCCD.

The UNCCD said that the rapid land degradation in the region over the past 30 years has affected about 80 per cent of the region&rsquo;s population who rely on rain-fed agriculture for livelihood.

The Green Wall&#39;s target is to rehabilitate 100 million hectares of land even though approximately 4 million hectares of land have so far been rehabilitated under &lsquo;strict intervention zones&rsquo;.

The program&rsquo;s assessment shows that between 2007 and 2018, the Wall created over 350,000 jobs and around USD 90 million in revenue.

To reach its target of 100 million hectares of land by 2030, involved countries will need to restore 8.2 million hectares of land on average every year at an annual financial investment of USD 4.3 billion.

The restored area will sequester over 300 tons of carbon dioxide by 2030, which would represent roughly 30 per cent of the envisioned target. &ldquo;Financing income-generating activities linked to the land, typically the main asset the poorest people have, is perhaps, the most cost-effective way to pursue peace, security, development and good health,&rdquo; said Ibrahim Thiaw, executive secretary of the UNCCD.

Estate Cloud

Estate Cloud

Developer to build new 195 studio apartments in Nairobi West

By Estate Cloud - over 2 years ago - Kenya

RELATED ARTICLES

CONTACT

CONNECT

SUBSCRIBE