industry-tracker-november-2017

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Edition #212 December 2017

Top Story

Inside Kenya’s Shs. 1 Trillion Plan to Promote Low Cost Housing

The Kenyan government has unveiled an ambitious plan to build a million units of public rental housing in the next five years to curb the emergence of informal settlements and provide decent housing for low-income earners.
The plan is high on the agenda of the State department of Housing and Urban Development, which is currently reviewing tender documents from an undisclosed number of bidders who are seeking to build 8,000 houses on a 55-acre plot that has been set aside by the government in Mavoko, Machakos County.... Read Full Story

Hot Topics

Village Market’s Sh. 4 Billion Shopping Mall Opens to Public

Greenhills Investment Ltd., the owners of Village Market and the Tribe Hotel in Nairobi have opened a Sh4 billion extension at their shopping complex on Limuru Road in a move aimed to consolidate their customer base in the wake of intensified competition from new malls. The new development has already attracted a host of international businesses among them... Read Full Story

NSSF Downgrades Nairobi’s Tallest Tower on Safety Concerns

In news that is likely to disappoint lovers of skyscrapers, the National Social Security Fund (NSSF) has more than halved the proposed height of its upcoming Hazina Trade Centre in Nairobi in what seems to be a compromise based on safety concerns by the government.
The Sh6.7 billion project, which involves construction of a 39-storey tower atop the eight-storey Hazina Trade Centre on Mokhtar Daddah and Monrovia streets, was suspended by the NSSF in October last year after it emerged that it would be unsafe to move forward with the venture.
A report by the ministry of public works had indicated that it would be unsafe to go beyond 25 floors since the existing structure beams... Read Full Story

Runda Investor in New Push to Put up Hotel

Foreign Secretary Amina Mohamed’s brother Ahmed Jibril has renewed his controversial bid to put up a Sh1 billion hotel at the upmarket Runda Estate in Nairobi.
Residents had opposed amalgamation of the 15 plots by the developer that led to a change of user contrary to the wish of living in a serene, safe and secure noise-free environment... Read Full Story

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What's Happening At RE/MAX

We would like to welcome all the real estate consultants who joined us in the month of November and who bring a wealth of experience in real estate.
Karibuni sana to the RE/MAX family.
Click on this link to join the RE/MAX team.

RE/MAX Franchise Office of the Month.

Congratulations RE/MAX Heritage for taking office of the month for November 2017. We recognise your highly successful expo in the US and Canada.
Keep raising the flag high.

RE/MAX Director – Global Development Visits Kenya.

RE/MAX Kenya hosted Mr. Chip Brekken, Director – Global Development RE/MAX, LLC during his visit to Africa. The visit lasted 4 days within which he held strategic meetings with key stakeholders accompanied by RE/MAX Kenya CEO James Muratha & Business Development Director Kirti Chauhan. He also had training sessions with the current and incoming franchise owners, RE/MAX Real Estate Consultants including a koroga with all RE/MAX affiliates.

RE/MAX Heritage Diaspora Expo.

RE/MAX Heritage held a successful property and investment diaspora expo in the US & Canada between 14^th and 28^th November 2017. The expo had a good turnout with delegates such as Amb. John Lanyasunya, Kenya high commissioner Ottawa and Amb. Robinson Njeru Githae, Kenya high commissioner, Washington among the attendees. View more of the event.

Other News

Kindly note the Regional office has moved from Delta Corner, Chiromo road to 6^th Floor Rhapta Heights along Rhapta road.

For updates and news on Kenya's real estate visit our blog or subscribe for our monthly industry tracker.

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