1. Nairobi lacks good offices, says new industry report

    KENYA: With Nairobi being one of the most lucrative real estate destinations in the region, it is emerging that the industry is not capitalising on its potential. A new report by Mentor Management Limited has revealed that few developers are meeting the demand for office space in the city.

    The report, released last week, revealed that many developers are not building offices that are in sync with what many companies are looking for.

    “Developers are not responding to the rising demand for buildings with high quality and specifications and car park, especially for grade B space,” said Mentor Management Limited CEO James Hoddell. “Some of the buildings being constructed are unsuitable and therefore remain empty.”


  2. Real Estate Investment Trusts (REITS) to be introduced in Kenya

    Real Estate Investment Trusts (REITS) are set make a debut at the Nairobi Securities Exchange (NSE). The  CMA has been pushing  for establishment of public Reits in Kenya for many years. With the recent growth and maturity of the real estate sector this has been long overdue.  Kenya will become the 41st country in the world to introduce REITS and second in Africa after South Africa.Why you should be interested in them and why this may be a turning point in the property market in Kenya. Treasury secretary Henry Rotich reading the 2013/2014 budget said the law on Real Estate Investment Trusts (REITs), would be enacted through an amendment to the capital markets rules.“I propose to amend the law to encourage pooling of resources through REITs for the sole purpose of real estate development,” said the Treasury Secretary.


  3. Celebrating Kenya’s next 50 years

    Kenya recently celebrated 50 years of independence, the event was marked with pomp and colour led by President Kenyatta who was born in the same period. For majority of the nation who are youths under the age of 35 colonial rule is just a part of history.  Most of us were been born in a time when oppression, colonialism was out of topic in Africa. The challenges had moved to poverty, hunger and conflict. So marking independence from colonial oppression should not mean much. Nevertheless Kenya has in the recent past shifted gear to a more positive outlook for its future.  Looking back to the events in the last half century it is clear we are curving a new beginning.


  4. Home owning in Kenya becomes more expensive



    High interest rates charged by commercial banks have frustrated Kenyans’ keen to own homes and making worse the country’s housing shortage, a new report said yesterday..

    The HassConsult’s 2013 third quarter report released yesterday said commercial banks are charging in excess of 18 per cent relative to the current benchmark lending rate of 8.5 per cent, making the cost of owning a home in Kenya one of the highest in the world. (more…)