Sunday, November 27

Real Estate

  • Coworking is an arrangement in which workers of different companies can share a working area with several office amenities at low costs
  • Jenga Leo is a coworking space based in Nairobi and offers workers several benefits, including high-speed Wi-Fi and air condition
  • Jenga Leo’s administrator Ruth Kinyanjui says the working model offers countless benefits for businesses seeking growth and cutting costs

New businesses, especially startups, should consider using coworking spaces instead of hiring offices.

Coworking is an arrangement in which workers of different companies can share a working area with several office amenities at low costs.

Jenga Leo’s administrator Ruth Kinyanjui said the working model offers countless benefits for businesses seeking growth and cutting costs.

Read: Egypt: MoneyHash raises US$3 million for seamless payment solutions across Africa

Jenga Leo is a coworking space based in Nairobi and offers workers several benefits, including high-speed Wi-Fi and air condition. The company offers …

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  • Land prices in Nairobi’s suburbs and towns maintained a mild upward growth in the fourth quarter of 2021
  • Prices in the suburbs increased by 0.34 per cent over the quarter, while in the satellite towns, growth stood at 1.4 per cent
  • The appreciation was on the back of several factors including the implementation and conclusion of vast infrastructure projects promoting accessibility and opening up areas for Real Estate investments
  • Gross loans advanced to the Real Estate sector increased by 3.2 per cent to KSh 463.0 billion in the third quarter of 2021, from KSh 448.0 billion in the first half of 2021

Land prices in Nairobi’s suburbs and towns maintained a mild upward growth in the fourth quarter of 2021.

Data collected by property experts HassConsult indicated that prices in the suburbs increased by 0.34 per cent over the quarter, while in the satellite towns, growth stood at 1.4 per …

Land prices in Nairobi and its environs showed mild recovery in the second quarter, at a time when investors who froze investments in land at the peak of the Covid-19 economic crisis are slowly returning to the market on the improved business environment.

This is according to a new report by HassConsult which indicates that land prices in Nairobi improved by 0.3 percent while the satellite towns showed a 1.1 percent increase.

HassConsult Head of Development Consulting and Research Sakina Hassanali said select areas within the suburbs and towns are being favored by proximity, adding that these places are opening up.

Hassanali added that this is in turn attracting developer and speculator interest and thereby improving asking prices.

In the Nairobi suburbs, Nyari was the best performing suburb. According to the report, prices in the suburb improved by 2.25 percent over the quarter, and 6.24 percent annually.

The report has …

Kenya’s residential sector has continued to record improved performance, even as the retail and commercial spaces continues to record a decline.

This is according to the Status of the Built Environment for Kenya, which reveals that the residential sector recorded an improvement in performance with average total returns to investors coming in at 5.1 per cent year on year, up from 4.7 per cent recorded in the 2020 financial year.

The analysis is drawn from data collected from Cytonn market review between January and July 2021.

Read: Kenya’s real estate sector attracting new investors

As per the analysis, the improved performance was also realized in the apartments market which recorded average total returns of 5.3 per cent year on year compared to the detached units which recorded average total returns of 4.8 per cent.

Detached units in areas such as Rosslyn, Ruiru and Kitisuru recorded the highest average year on …

Knight Frank has partnered with South African property specialist, Rennie Property, and will begin trading as Rennie | Knight Frank.

In a statement, the global real estate adviser says the move is expected to solidify its position as one of the biggest real estate advisers on the African continent, as well as provide a gateway for existing Rennie Property clients to the greater international market.

Rennie | Knight Frank will offer a full suite of commercial property services including Property Asset Management (PAM), Occupier Services, Commercial Agency and Capital Markets.

Read: Africa’s property market thrives on domestic capital

Knight Frank is currently represented in South Africa through Knight Frank Residential and Knight Frank Valuations / Advisory, both long-standing and well-established businesses.

Commenting on the partnership, Susan Turner, the Managing Director of Knight Frank Residential / Valuations said the partnership will further cement the company’s position in South Africa and create …

The Nairobi urban fabric will soon feature a new landmark with the development of a world-class medium density housing complex for the U.S. Department of State.

This project marks the first development in Kenya in a joint venture by Gateway Real Estate Africa (“Gateway Africa”) and Verdant Ventures, following a successful collaboration on a similar project in Ethiopia.

Gateway Africa is a Mauritius-based private real estate development company specializing in the turnkey construction of accommodation for multinational corporations and retailers wishing to expand their operations on the African continent. Verdant Ventures is a US-based real estate development company focused on diplomatic housing in Africa. The landowner, Nebange Limited, will be a profit participant in the partnership.

According to Greg Pearson, founding member and CEO of Gateway Africa, and Russ Murphy, CEO of Verdant Ventures, this project further cements the relationship between Gateway Africa and Verdant Ventures following our successful collaboration …

The East Africa Property Investment (EAPI) Virtual Summit has noted that the effect of the global pandemic could mean new investment opportunities for the sector.  

The summit held on July 29th and 30th featured 69 regional and international speakers, providing tangible insights on how Kenya’s property sector has weathered the Covid-19 pandemic, and what the future holds. 

According to Gerhard Zeelie, Divisional Executive: Commercial Property Finance Africa - Nedbank CIB, South Africa, Covid-19 has revealed strengths and weaknesses of the East African property sector, but saw Nedbank rem...

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Real Estate developer Superior Homes Kenya is putting up a Sh7 billion ($68.8 million) residential development in Kenya’s coastal town of Kilifi, as it moves to expand its real estate portfolio in the country.

Dubbed ‘Pazuri at Vipingo’, the master-planned site will consist of 372 houses and associated infrastructure and amenities covering more than 100 acres.

READ ALSO:Property developer superior homes announces Sh30 billion investment

The development, which commenced early this year, consists of 2, 3 and 4 bedrooms with phase One of the project comprising of 63 units expected to be ready for occupation in June 2020.

“Pazuri at Vipingo has been designed so that every house enjoys an ocean view. Large plot sizes, spacious bedrooms and open plan lounges, generous window sizes and rooftop entertainment space all combine to provide a wonderful home whether it is for a residence or a holiday home,” Superior Homes …

Cytonn Investments has filed an application with the Capital Markets Authority (CMA) to register a Development Real Estate Investment Trust, (DREIT), seeking to raise Ksh2.0 billion(US$19.3million) of capital.

The DREIT, which is innovatively structured to pay a coupon over the life of the development, will be deployed for the first phases of two of the firm’s real estate projects, The Ridge in Ridgeways, and RiverRun Estates in Ruiru.

READ ALSO:Cytonn granted REITs manager license ahead of NSE launch

This capital raise is envisioned to help Cytonn diversify funding sources for their real estate development pipeline, which has a project value of over Ksh82.0 billion (US$269.9million).

The leading alternative investment management firm in the East African Region (Cytonn) has traditionally relied on private sector funding, which while easier to access, has been more expensive.

This has thus necessitated the development of alternative sources of funding, allowing development of institutional-grade real …