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Kiambu County is set to host the biggest housing project under the government&#39;s affordable housing programme with 30,489 units planned for the development.

Hydro Developers Limited has partnered with the government to provide affordable homes under the Big Four Agenda initiative and intends to construct the 30,489 units of residential apartments in Kamiti area along the Northern Bypass Road in Kiambu County.

The developer has already submitted regulatory filings with the National Environmental Management Authority (NEMA), showing the affordable housing scheme will comprise studios, one, two and three-bedroom apartments.

The document shows the project will contain 10,166 studio units, 9,384 one-bedroom units, 6,256 two-bedroom units, and 4,692 three-bedroom units.

Further, the development will comprise 598 studio blocks, 552 one-bedroom blocks, 368 two-bedroom blocks, and 276 three-bedroom blocks, all rising to 17 floors.

Studio units will be 31SQM in size, one-bedroom units (45SQM), two-bedrooms (62SQM), and three-bedroom units will occupy 91SQM. The apartment footprint on the 302 acres parcel of land is estimated at 120,704SQM with an estimated number of car parks at over 22,300 in total occupying 145 acres of land. &nbsp;

Other proposed communal facilities to support the housing scheme include a Shopping Mall, Shopping Centre, Polices Post, Emergency Services Station, Daycare Centres, A 2-6-6 System School, LPG Gas Sections, Petrol Stations, Parking Silos, Matatu Terminus, and Community Halls among others.

The developer said construction will be guided by national and international standards for both engineering and environmental compliance.

The project dubbed Hydro City is planned to have piped LPG gas, rainwater harvesting, infra-red sensor sanitary fittings for water conservation and power conservation using occupation centres.

On completion, the project would become the country&#39;s single biggest housing project with&nbsp;number of units, second only to Nyayo Embakasi.

Kiambu County has received a lot of investor interest since the government announced its housing agenda with several local and international developers already taking their positions.

According to the 2019 national housing census, Kiambu County has the second-highest contribution to the country&#39;s GDP after Nairobi.

The project is estimated to cost a total of Ksh. 3 billion according to the EIA <a href="https://www.nema.go.ke/images/Docs/EIA_1730-1739/EIA_1736%20Study%20Report-%20Hydro_SR%201801-min.pdf" style="color: #ff6600;">report</a>. The project&#39;s dates are still unknown.

Uganda is set to unveil the 183.2MW Isimba dam. Located in Kamulu district and built on the White Nile in a few months, the dam is considered to be the fourth biggest hydropower project in Uganda.

It is expected to generate hydroelectric power at 68 cents per kWh, arguably the lowest in East Africa.

The project which has been under construction for since 2013, was expected to top out by the end of 2017 but technical setbacks prevailed leading to extensions in the project’s timeline. For instance, Uganda Electricity Generation Company Limited (UEGCL) had to get new engineers to solve cracks on the embankment dam.

Read; <a href="https://estatecloud.co.ke/avic-unveils-the-global-trade-centre-in-nairobi/">AVIC unveils the Global Trade Centre in Nairobi</a>

Once complete, the project is expected to generate 1,039GWh of electricity a year, boosting Uganda’s total capacity by 23% in addition to creating jobs. The dam is built on an area of approximately 2,867.6 acres of land.

The project is estimated to cost $570m, with an 85% debt financing from the China Export-Import Bank. In March 2015, the Parliament of Uganda also approved $482.5m loan from the Exim Bank.

Isimba dam’s engineering, procurement, and construction (EPC) contract worth $568m was awarded China International Water &amp; Electric Corporation (CWE) with Energy Infratech as the supervision consultant for the project.

The 183.2 MW Isimba Hydropower Project will have four turbines each with an installed capacity of 45.8MW. All the turbines were already in place by August, 2018.

The dam and the hydro-mechanical equipment have a structural life span of 100 years and 50-years respectively while the contractor will have a 2-year defect liability period after undertaking of the project. Uganda Electricity Generation Company Limited (UEGCL) is keen to finalize the project before the end of the year.

The project is one of the most important power projects the Ugandan government has initiated in recent years. The World Bank estimates that sub-Saharan Africa suffers the sharpest deficit in electricity yet only 10% of its hydro-electric power potential has been exploited, leaving 90%.

Next Read; <a href="https://estatecloud.co.ke/firm-to-undertake-mega-housing-development-on-ngong-road/">Firm to undertake mega housing development on Ngong Road</a>

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During a the release of the third quarter house price index, HassConsult revealed that investors were holding off their plans as they await the government's move on affordable housing schemes. The government’s initial strategy under the Nairobi urban regeneration programme is to transform Nairobi’s old government estates into thriving affordable housing communities.

Details presented at the East Africa Property Summit Early this year, show seven such estates market for redevelopment under the affordable housing drive.

Ngong Road Estate

The estate currently houses 96 county staff houses on a 21.5 acre piece of land. The underutilized parcel is ideal for high density redevelopment which is one of the principles to be adopted under the new scheme.

<a href="https://estatecloud.co.ke/wp-content/uploads/2018/10/Ngong.png"><img class="alignleft wp-image-2169 size-full" src="https://estatecloud.co.ke/wp-content/uploads/2018/10/Ngong.png" alt="" width="856" height="591" /></a>

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Old Ngara Estate

The estate currently consists of 114 housing units on 5.1 acres of land and could certainly also hold much more.

<a href="https://estatecloud.co.ke/wp-content/uploads/2018/10/Ngara.png"><img class="alignleft size-full wp-image-2170" src="https://estatecloud.co.ke/wp-content/uploads/2018/10/Ngara.png" alt="" width="893" height="571" /></a>

New Ngara Estate

The estate currently holds 136 housing units on 4.12 acres of land.

<a href="https://estatecloud.co.ke/wp-content/uploads/2018/10/New-Ngara.png"><img class="alignleft size-full wp-image-2171" src="https://estatecloud.co.ke/wp-content/uploads/2018/10/New-Ngara.png" alt="" width="876" height="547" /></a>

Pangani Estate

Made up of 46 housing units also on 5.2 acres of land adjacent to Ring Road Ngara, in the precincts of Pangani police station.

<a href="https://estatecloud.co.ke/wp-content/uploads/2018/10/Pangani.png"><img class="alignleft size-full wp-image-2172" src="https://estatecloud.co.ke/wp-content/uploads/2018/10/Pangani.png" alt="" width="894" height="561" /></a>

Jevanjee/Bachelor’s Estate

The location for the planned Jevanjee estate currently consists of 80 units on 7.5 acres of land.

<a href="https://estatecloud.co.ke/wp-content/uploads/2018/10/Jevanjee.png"><img class="alignleft size-full wp-image-2173" src="https://estatecloud.co.ke/wp-content/uploads/2018/10/Jevanjee.png" alt="" width="873" height="559" /></a>

Uhuru Estate

The development is planned on a 7.5 acre Greenfield site in Buruburu.

<a href="https://estatecloud.co.ke/wp-content/uploads/2018/10/Uhuru.png"><img class="alignleft size-full wp-image-2174" src="https://estatecloud.co.ke/wp-content/uploads/2018/10/Uhuru.png" alt="" width="810" height="577" /></a>

Suna Estate

The estate is planned to be put up along Suna road on a 5 acre parcel of land next to the current Toi market.

<a href="https://estatecloud.co.ke/wp-content/uploads/2018/10/Suna-est.png"><img class="alignleft size-full wp-image-2175" src="https://estatecloud.co.ke/wp-content/uploads/2018/10/Suna-est.png" alt="" width="882" height="545" /></a>

The 51 acres of land earmarked for redevelopment under the Nairobi regeneration scheme currently hold just 438 housing units implying just about 8 units per acre . The programme aims to put the land into highest and best use.

According to details of the proposed estates, the developments will be looking to incorporate the interests of low income groups, provide housing support services like schools and health, and use of green technology.

Nairobi urban regeneration programme to transform old estates

By KANU-nominated Senator Abshiro HalakeA land grab can be disguised as legitimate when a government gazettement is used to throw some veil of due process over the stealing. But as our Ministry of Lands and county governments conspire to rob our poorest peoples of their lands, no veil can disguise the use of sovereign power– by the people’s own chosen trustees – to rob them of what is rightfully theirs.

And so it is with Isiolo and its land.

As it is, land rights have been at the heart of Kenya’s inflamed degree of resource and ethnic conflict, which is why we have poured huge legislative effort into resolving our historical land ‘wrongs’.

Yet our Ministry of Lands seems to have failed to grasp its central role in now applying our new laws to create a fairer, stronger and more united nation.

Following our constitution 2010, we created a new land law, and established an adjudication procedure for disputed lands. We then created a separate law for community lands, and there was a reason: for most community land had no registered owner - it had been lived on by our pastoral communities, owned by no other, but never registered.

So, by 2016, we had created the Community Lands Act to put in place the systems and procedures to register community land to its rightful owners, the local communities.

It took until 2018 to promulgate the regulations to operationalize the law. And then began the process of mapping our unregistered community land, and registering it. This, by law, was to have involved two processes. From September 2018 and for one year the Ministry of Lands was charged with educating the public on the new law and raising public awareness. It never did.

At the same time, county governments had until April 2019 to produce an inventory of all their community lands. Not all of the 24 counties with community lands met that deadline, but some of them did, and Isiolo was one of them.

The Ministry of Lands, however, then did not do its part, once again. By the end of August, last year, the ministry was supposed to have processed the inventories and begun the registration process for the identified community lands.

Instead, the Cabinet Secretary for Lands and Physical Planning took a very different path and on 3rd September last year issued legal notice 150 moving Isiolo’s community lands out of the process defined by the Community Land Act, and over into the Lands Adjudication Act process instead.

In a single step, the Community Land Act, which the ministry had never educated anyone on, was effectively nulled.

In fact, the breach of law was greater still. The ministry announced that large tracts of the Isiolo community land would not be adjudicated at all, and instead simply claimed them for the government, without compensation, and without any process whatsoever.

We call that land grabbing. The land did not belong to the government, not to the army for an army base, and not to any other arm of government, without having gone through a normal process of government acquisition and compensation to the actual landowners– being the pastoral communities.

The county government supported the abandonment of the community lands process. Yet it had proceeded to the last stage of registration. But maybe it was just too tempting to take the land from pastoralists without compensation, versus stealing land tracts elsewhere where compensation would be obligatory.

However, when it gets to the point - after violence, deaths, displacement, years of trauma - that our lands ministry has no qualms whatsoever in grabbing untitled land without compensation, one has to question what it actually takes to get a lands ministry that observes and applies the land laws.

Certainly, it’s a depressing reflection of our ethical foundation when our ministry cannot grasp the rationale, basis or legality of the Community Lands Act 2016, but that it does not even recognize its application or existence at all is beyond unethical: it strikes at the heart of our constitution and at our capacity and integrity as a government and as a nation-state.

The Community Land Act does exist, and no reason or exception was ever made in applying it. And the lands ministry should be held accountable. Isiolo’s community land registration needs to proceed as defined in law, with the government having the honor and respect for community rights to compensate the community for any land it would like to own.

We do not live in a new republic where we pick and choose the laws we want to apply as cabinet secretaries or as parliamentarians. We live in a republic that is bound by the laws it makes and bound to apply them.

Senator accuses lands ministry of grabbing Isiolo land

New dam to boost Uganda power output by 23 per cent

A webinar organized by API events to discuss the impacts of real estate investment implications across Africa reveals the state of property market across the continent following the onset of COVID-19 and makes some predictions for the future.

The online event saw key industry players from real estate advisory, development, banking and private equity speak on various topics ranging from market fundamentals to valuations, financing and currency implications, risk management, social impact and after-effects.

Impact on Operations

Landmark Africa MD Paul Onwuanibe said the pandemic had taken about 35-70 percent of trading off the markets but the financial realities for each client will be different. He said clients that have resilience buffers such as more capital reserves are better placed.

Onwuanibe said retail and hospitality sectors are the most vulnerable but office and industrial segments appear to be more resilient.

“We still don’t know the impact of Covid-19. If it lasts for 3-months that will be more digestible, if it lasts longer like 6 months or more, that will be harder to take in,” said Niyi Adeleye, Head Real Estate Finance for Africa Regions, Standard Bank Group.

“The reason why remote working appears successful is because everyone is locked up. There is no replacement for social interaction and normalcy should resume once this is done,” he added, refuting the idea that remote working may take over working on site.

Impact on Investments

“Currently rates are high and volatile and the solution for lenders usually is conservative lending,” said Niyi Adelaye hinting that accessing to debt capital may be more limited.

“The volatility makes it difficult to have highly leveraged assets in Africa,” he added

He said that one way of dealing with volatility is applying a portfolio approach that enables assets to collectively develop a resilient buffer for the portfolio in and of itself.

The Standard Group banker said that the volatile market conditions in most of sub-Saharan Africa is counterproductive to the paradigm for private equity where high Internal Rates of Return (IRRs) and positive cash flow within a short time period are the favoured measures of viability.

Markets

Commenting on the state of African real estate markets, Niyi Adeleye said, “it’s still difficult to predict yields and risk-free rates following market activity due to the low volumes of trade in most African markets. The question remains what is the real cost of an asset?”

He said there are no systematic and comprehensive data platforms to rely on, no benchmarks. “We’ve got to build it from the ground up,” he said.

According Ilaria Benucci, Head of Construction and Real Estate for CDC Group, the instability of African currencies has also presented a significant challenge to international financiers and private equity.

“The sustainability aspect of African investments is tied to domestic currency lending,” said Niyi Adelaye, commenting on the technicalities of importing finance brought about by volatile currency exchange rates in countries like Nigeria.

The stability of market fundamentals will depend on how fast people recover their livelihoods.

Landlord-Tenant Contest

Thomas Schultz, Director of Africa Real Estate for Investec said the shape of an investor before the crisis will determine how one comes out from the crisis.

“We’re collectively in survival mode, we really want to get through this together,” said Schultz regarding the landlord-tenant debate.

He said taking legal action on delinquent tenants is the wrong approach at the moment. “You don’t want to be chasing your tenants in court 3-6 months from now,” he added.

“Interest waivers would undermine financial institutions. There is no one size fits all solution for the situation. Developers and banks have to meet in the middle,” said Standard Bank’s Niyi Adeleye.

CDC’s Ilaria Benucci also advised that landlords would do well to maintain flexibility and engagement with tenants.

Deals &amp; Valuations

“It’s difficult to have a crystal ball now. There are still tenants progressing with the paperwork but it has become difficult to do the physical work. Most clients however, have put off all activity,” said Thomas Schultz of Investec.

The panel agreed that the crisis could have an adjusting effect on market valuations to more sensible levels both in terms of price and discount rates.

Future Outlook

Ilaria Benucci said housing is expected to be the more relevant after now with a possible spike in demand for low human density assets, logistics and storage.

Landmark CEO Paul Onwuanibe said the aftermath of the pandemic may tilt the markets more in favour of impact investments.

“People will be more cautious about investing in offices and retail that are operated traditionally,” said Paul.

He said real estate investors must usually make some core assumptions, and some of those assumptions might change in Africa post-COVID-19 where sustainability, social and environmental impact could increasingly play a part in the reason for the decision on where to invest capital.

On how long the crisis may last, CDC group’s Ilaria Benucci said, “It’s difficult to draw a conclusion right now. I don’t see this ending 3-4 months from now, what we expect is a gradual lifting of the situation.”

The webinar was co-hosted by API events CEO Kfir Rusin and JLL Head of International Capital for sub-Saharan Capital, Thomas Mundy.

 Read; <a style="color: #ff6600;" href="https://estatecloud.co.ke/proposed-bill-provides-relief-for-tenants-mortgage-owners/">Proposed bill to cushion tenants and mortgage owners</a>

A survey by the institute of economic affairs comparing Kenya’s six largest towns in 2017 revealed the efficiency of urban areas by rank. The assessment of urban areas was piloted in the six most populous urban areas in Kenya namely Eldoret, Kisumu, Machakos, Mombasa, Nairobi and Nakuru.

These six urban areas were selected largely based on population but also on geographical spread. Besides being the six largest in Kenya, they are very diverse among themselves, from their economic size and output.

The survey employed the use of the Urban Areas Performance Index (UAPI) which is a composite index used to assess overall performance of urban areas based on three clusters. The three clusters include; Conditions for residents (how good the urban area is for residents), Conditions for investors (how good the urban area is for investors), and Principles of good governance (how well the urban area fulfils principles of good management and governance)

The urban areas were assigned scores from 0-100 based on service delivery, provision of a friendly investment environment and in effective and transparent asset and resource management. The best performing urban areas are the most liveable and associated with better quality of life, favourable investment environment and efficient use of resources in a transparent manner.

Nairobi, the capital city and the most populous of the urban areas emerged top with a score of 63, making it the best performing urban area and the favourite for residents and investors. With above average performance, Nairobi is indeed the most livable (attractive urban area for residence and business/investment) of the six urban areas based on the UAPI.

At second place was Nakuru with a score of 56, followed closely by Eldoret (55.7). Further Mombasa and Machakos whose scores are below the overall UAPI mean score follow in that order. Kisumu with a score of 47.6 was ranked last.

Most of the urban areas ranked best on the condition for residents cluster (63) followed by principle of good governance (53). The least performing cluster was condition for investment with a mean score of 40.

Nairobi was ranked first overall for leading on the cluster of conditions for resident and principles of good governance. However, on conditions for investment, Eldoret and Mombasa took the lead with a score of 46 each.

The best performing urban areas were those that scored highly on condition for residents by providing efficient and quality services to residents, encouraging competition and choice of service providers. Such an urban area often succeeds in attracting and retaining residents if they maintains and strengthen these services.

Urban areas which reduce the burden of tax and provide an enabling environment including information on taxes and other necessary information for businesses and potential investors were ranked highest on condition for investment.

“It is likely that ten years into devolution, things that will be important to citizen may change. For example, new investment opportunities maybe more compelling for urban areas like Nakuru and Eldoret but better governance may appeal to the two largest cities, Nairobi and Mombasa”, says the report.

The data collection period was from November 2016 to May 2017.

Study ranks performance Kenya’s six largest urban areas

The World Bank has approved KSh. 25 Billion loan to Kenya from the International Bank for Reconstruction and Development (IBRD). The loan is meant to enable access to long-term financing of affordable housing by low income earners in the country.

The loan will be channeled through the bank’s Kenya Affordable Housing Finance Project (KAHFP), mainly to support the Kenya Mortgage Refinance Company, a lender of last resort established to help banks issue long-term mortgages to Kenyans and supervised by Kenya’s Central Bank.

KMRC’s goal is to drive affordability of mortgages by providing long-term funding to financial institutions at much lower rates, thus enabling them to offer long-term mortgages (about 25-years) to home buyers. The project will also assist the Ministry of Lands and Physical Planning to improve property registration and address structural constraints in the land management system in Kenya.

Kenya has an estimated 200,000 annual housing shortfall, expected to rise to 300,000 by 2020 while the government aim at providing 500,000 houses in five years to plug the deficit.

“Urban housing currently remains unaffordable for most Kenyans due to cost of financing, the short loan tenures and the high cost of properties,” Felipe Jaramillo, World Bank Kenya Country Director, said in a statement.

“We believe that Kenya’s vibrant private sector offers an excellent opportunity to crowd in privately held skills and resources towards achieving the country’s Big 4 affordable housing goals and in alignment with the World Bank Group’s Maximizing Finance for Development agenda,” said Felipe.

The world bank said KAHFP is expected to increase access to finance by tripling the proportion of urban households having access to mortgages by working with financial institutions that target low income segments of borrowers.

Kenyan commercial banks currently hold just about 26,000 mortgages of approximately KSh. 11,000,000 in value or about 3.15 percent of GDP, which is way low compared with outstanding mortgages in more advanced economies even though SACCOs also play a big part in home financing for most Kenyans.

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Estate Cloud

Estate Cloud

Kiambu County Set for the Biggest Housing Project in Kenya With 30,489 Units

By Estate Cloud - over 2 years ago - Kenya

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