Category: Real Estate

SUPERIOR HOMES INVESTS KSH15 MILLION TO CURB FLOOD MENACE

Elves Kimutai

Superior Homes Kenya PLC, the developers of Greenpark Estate, have completed the construction of a Ksh15 million flood protection wall to mitigate any water overflow from the Stoni Athi River as was witnessed in 2018 when it affected eight of the houses in the expansive estate. Superior Homes Chief Executive Shiv Arora explained that although the incident in 2018 was not the fault of the developer and has never happened again, they have taken it upon themselves to invest in the wall that will ensure it never happens again. The…

Purple Dot Breaks Ground for Ksh.1.3B Residential Development in Langata

Jacktone Lawi

Purple Dot International Limited, a fast growing and dynamic residential, commercial real estate developer has today broke ground on its latest real estate project, Marigold Residency Townhouses, an exclusive KES 1 Billion gated community located in Langata. The development that sits on a 3-acre parcel of land will comprise of 42 four-bedroom units, of 2,650 sqft each selling at KES 31 Million. Marigold offers a great opportunity for homeowners looking for a serene, luxurious and quality place to live with their families while delivering attractive returns to investors. The development…

KAREN AND KASARANI SUBURBS RECORD THE HIGHEST ANNUALIZED CAPITAL APPRECIATION

Elves Kimutai

Cytonn Real Estate, the development affiliate of Cytonn Investments, has released their Nairobi Metropolitan Area Land (NMA) Report 2020. The report highlights the land sector’s performance based on annual capital appreciation, market trends and the investment opportunity. According to the report, the land sector within the NMA recorded an 8-year CAGR of 13.5% and an annual capital appreciation of 1.5% in 2019/20, compared to the (0.3%) recorded in 2018/19, attributed to increased demand for land mainly in the low rise residential areas and satellite towns. During the period under review, transactions in the…

Rental yields drop marginally as tough economic times bite

Jacktone Lawi

Cytonn Real Estate, the development affiliate of Cytonn Investments, has released its H1’2020 Markets Review. The report highlights the current state of the real estate sector in terms of uptake, rental yields, capital appreciation, and hence, total investor returns. According to the report, average rental yields softened across all sectors coming in at 7.4%, 7.3% and 5.1%, for retail, office and residential sectors, respectively, from 7.7%, 7.8% and 5.2% in Q1’2020.The land sector recorded an overall annualized capital appreciation of 1.4%, with asking land prices in low rise residential areas…

EAPI Summit forecasts uptick in Kenyan real estate as finance flows reopen

Jacktone Lawi

The real estate market is poised for an uptick in activity, according to East African Property Investment (EAPI) Summit analysts, following the recent moves to reopen financial flows into the sector by uncapping interest rates. The change follows a decline in financing that saw the sector’s contribution to the country’s GDP halve from 8.8 per cent in 2016 to 4.1 per cent by 2018. “The lifting of the caps has prompted renewed interest by investors in the Kenyan market, which marks a distinct and new development. Following the introduction of…

Cytonn awarded Most Innovative Community Developer 

Jacktone Lawi

Cytonn Real Estate the real estate development arm of Cytonn Investments has been recognized by the International Finance Magazine as the Most Innovative Community Developer (Mixed Use) in Kenya during the International Finance Awards. “The entire award process is strictly supervised by expert panelists comprising of key subject matter experts taking extensive care in providing true in-depth analysis and review based on performance,” said a representative from International Finance. The Most Innovative Community Developer Award is given to companies that demonstrate excellence in the residential and commercial property space in…

Cytonn opens serviced apartment complex targeting business and leisure travellers.

Jacktone Lawi

Cysuites Apartments   Cytonn Investments has officially opened CySuites Apartment Hotel, the latest offering under its Private Equity arm. Cysuites is a serviced apartment complex with 32 two- bedroom apartments, 6 one- bedroom apartments and two penthouses that offer contemporary living and working spaces. “Our foray into Serviced Apartment Hotels is backed by thorough market research. Demand for serviced apartments continues to grow, evidenced by occupancy rates of up to 88%, according to our latest research data. Serviced apartments command very strong rental yields of about 12%, compared residential yields…

KOFISI, LAUNCHES NEW OFFICE IN KAREN

Jacktone Lawi

Kofisi, provider of flexible office work space across Africa, have opened a new office site in Karen This will serve the growing market that has been witnessed in Karen while at the same time positioning itself for new clientele to meet rising demand  “As a result of population growth, and infrastructure development, affluent suburbs like Karen are evolving and a need for flexible office work space is growing.”  said Kofisi CEO Michael Aldridge. We are currently in six countries, our vision is to open in 25 cities, representing a market size…

Quickmart supermarket now in Westland

Larmy

By Kelvin Majangah Fast rising retailer Quickmart Supermarkets has opened a new branch along Waiyaki way as it count on quality services and convenience to penetrate the country’s competitive retail sector. Quickmart’s latest strategic location is expected to serve customers in the wider Westland’s region region that includes Loresho, Kangemi, Lavington and Kinoo neighborhoods.where residents have been having limited shopping options. The new Wayaki way branch that has at least 100 attendants brings the retailer’s total outlets to 11, adding to the two in Nakuru, and one each in Kahawa…

Need an Apartment? Purple Haze Residences development has what it takes

Larmy

Purple Haze Residences development is situated off Dennis Pritt Road on Kitale Lane and it offers luxury residential 2 and 3 bedroom apartments as well as 3 and 4 bedroom penthouses all designed in modern living architecture and fitted with world class appliances. The name came up due to the Jacaranda trees and flowers that were blossoming in the land the development occupies and it is the ideal choice for anyone looking for space, luxury, comfort, security and serenity. During an exclusive interview with the Director of Purple Haze Mavji Varsani, he noted…