Kenya
LEADING REAL ESTATE AGENT IN THE CITY
UAE Through a Realtor’s POV
As an experienced realtor from India, my passion for real estate has taken me to various corners of the world. Through my recent exploration of the United Arab Emirates, I have gained enlightenment. I have found that the UAE is more than the domain of luxury and architectural marvel. It would invite your exclamation no matter where you go. For real estate developers, it is a paradise and a learning ground. And more than everything, it is a magnificent experience.
Projects
26
Since
1991
sq.m. Built
6870
Below are some of my observations and insights from a realtor’s perspective.
The magnificent capital of Kenya; the Nairobi City. It is a city filled with opportunity, and the graph of development and transformation for the city is on a steep rise, just like the skyscrapers on its land. Its skyline is dotted with huge cranes, which signals a construction boom. From luxury apartments in Kilimani and Kileleshwa to commercial hubs in Upper Hill, the city is expanding vertically. The demand for office spaces, especially Grade A and B, is on the rise, driven by multinational corporations setting up their African headquarters in Nairobi.
Mombasa, the former capital of British East Africa. It’s a city of immense beauty and splendor. I can vividly remember the colliding waves, warm weather, and the gorgeous beaches. It’s a magnet for tourists with its historical charm, and luxurious holiday homes and resorts. On the North Coast, and to be specific, Nyali and Bamburi; they have seen significant investments in luxury villas and condominiums. The SGR (Standard Gauge Railway) connecting Nairobi to Mombasa has further boosted the city’s real estate prospects.
I would like to give kudos to the Kenyan government for their focus on infrastructure development such as the LAPSSET (Lamu Port-South Sudan-Ethiopia Transport) corridor, which is set to revolutionize the real estate landscape. This project will not only enhance connectivity but also open up new horizons for development, especially in the northern regions.
While the Great Rift Valley is celebrated for its natural beauty, I feel that it’s also an area with immense real estate potential. From my observation, towns like Nakuru and Naivasha are witnessing a surge in interest from developers, especially for gated communities and holiday resorts. The geothermal energy projects in this region also promise sustainable living solutions.
Kenya’s real estate market is becoming more structured with regulations like the Land Registration Act and the Real Estate Investment Trust (REIT) framework. The introduction of REITs in the Nairobi Securities Exchange offers investors a chance to tap into the property market without direct ownership, ensuring liquidity and transparency.
I have discussed all the positives, but let’s delve into the possible challenges. Land ownership disputes and the high cost of financing are some of my greatest concerns. However, with the Kenyan government’s proactive approach, there’s hope that these issues will be addressed in the coming years.
I can proudly say that Kenya is at the forefront of sustainable construction in Africa. The Green Building Society of Kenya promotes eco-friendly practices, and many new constructions in Nairobi and other cities are adhering to these standards. This not only ensures a reduced carbon footprint but also promises long-term cost savings for residents.
The Kenyan diaspora could be a great advantage. I have noticed that those in North America and Europe are showing keen interest in the real estate market back home. Their investments are not just limited to residential properties but also commercial spaces and farmlands.
The revolution in Kenya is not limited to the real world. There’s an increasing development in the virtual infrastructure of the Country. Digital platforms are revolutionizing property transactions in Kenya. Online portals offer virtual tours, AI-driven property suggestions, and seamless transaction experiences. The adoption of blockchain in land registries is also being explored to ensure transparency and reduce fraud.
After carefully weighing all the pros and cons, I came to the conclusion that Kenya’s real estate market is dynamic, and offers a blend of traditional charm and modern amenities. For realtors and investors, the country presents a plethora of opportunities. As I boarded my flight back to India, I was filled with optimism about Kenya’s realty future and the endless possibilities it holds.
Projects
26
Since
1991
sq.m. Built
6870
REAL ESTATE
My Journey in Residential Real Estate
I still vividly recall the days when the horizon was adorned with budding homes that symbolized
the dreams of millions. Then came the visionary initiative of Pradhan Mantri Awas Yojana (PMAY)
by the government. Through conversations with my colleagues I became aware of reports from
the Ministry of Housing and Urban Affairs that highlighted the construction of over 10 million
houses since 2015 (Ministry of Housing and Urban Affairs 2023). As we built these homes I could
sense the heartbeat behind our nations aspiration for housing for everyone.
In bustling metropolises like Mumbai and Delhi I’ve also witnessed the emergence of luxury
apartments boasting views and cutting edge amenities. It’s not merely about bricks and mortar;
it’s, about curating experiences.
Projects
26
Since
1991
sq.m. Built
6870
REAL ESTATE
When Office Spaces and Retail Establishments Took Center Stage
As time passed by our focus expanded to encompass spaces.
Tech giants entered the market and cities such, as Bangalore and Hyderabad experienced a surge
in demand for office spaces. At the time shopping complexes became topics of discussion thanks
to India’s growing middle class
Projects
26
Since
1991
sq.m. Built
6870
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