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

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 

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.

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

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

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

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…

Cytonn hands over phase 1 of the Alma in Ruaka

Cytonn Real Estate has officially handed over The Alma Phase 1, its flagship residential development in the Ruaka town. The Alma is the most recent project to be handed over by Cytonn following last year’s completion and handing over of Amara Ridge in Karen. Phase 1 is 100% sold out. In giving her opening remarks, Yvonne Ondego, a Project Management Associate at Cytonn Real Estate noted that, “Recently, comprehensive developments have been growing in popularity because they provide an enriched living environment that caters to all the needs of its…

Why Social Media Freedom is Facilitating Easy Spread of Fake News

The World Economic Forum released a report in 2013 dubbed Digital Wildfires in a Hyperconnected World, which, among many other things noted that “digital wildfires” or digital misinformation could wreak havoc in the society. This is what the world is experiencing today; fake news. The report posited that the misuse of an open and easily accessible system and the greater danger of misguided attempts to prevent such outcomes would only serve to worsen the case. The definition of fake news varies often depending on the context. In fact, many people nowadays…

Dangote Industries shows its commitment to empowering Africa

A new branded content campaign on CNN TV, digital and social media platforms is showing global audiences some of the many ways that Dangote Industries is impacting people in African communities and industries.   The ‘Touching Lives’ campaign, which starts airing on TV this month, has been conceived and developed by CNN International Commercial’s award-winning branded content studio Create as part of the extended partnership between Dangote Industries and CNN. Announced last year, the partnership also includes sponsorship within CNN Marketplace Africa and Dangote being the first African brand to…

StanChart shifts focus to youth as it launched new community investment strategy

Kariuki Ngari, CEO Standard Chartered Bank Kenya. Through its Futuremakers programme, the Bank’s global ambition is to raise USD50 million and build the entrepreneurship capability of 50,000 micro, small businesses Standard Chartered Bank has launched a new community investment approach that focuses more on youth empowerment through education, employability and entrepreneurship opportunities. The new social investment strategy dubbed Futuremakers seeks to build on the community impact and achievements of Seeing is Believing, the Standard Chartered Marathon mantra. “More than 20% of Kenyans are youth, yet the economic opportunities to finding…