Projects That Will Improve Real Estate in Kenya
Konza city was launched during the reign of president Mwai Kibaki as a part of the economic pillar of Kenya's vision 2030 development plan. This project is expected to transform Kenya into Africa's ICT hub, reduce poverty and create employment.
The Mombasa-Nairobi Standard Gauge Railway started in 2013 and was completed in the year 2017. The completion of this project accommodated both passengers and cargo. This has seen rapid growth of the real estate sector. As we know, infrastructure is the backbone of any growing real estate sector. Real estate is a high potential market that requires modern infrastructure, this is because people are likely to buy and rent properties in areas with developed infrastructure. Standard Gauge Railway has facilitated the development of the real estate sector both in Mombasa and Nairobi because it has made transportation to be easier.
Tatu City project
Kenya is spending millions of money on the establishment of Tatu city that is an industrial park. This park will accommodate residential developments, businesses, a technology park, playground, hospital and health facilities, schools and warehousing facilities. This is a potential business opportunity for real estate investors. Besides development, there will be the creation of thousands of jobs and will lead to a 5% decrease in Kenya's housing deficit through the creation of more affordable homes.
Konza city is a small town in Makueni county, Kenya and sits on 500 acres. Konza city was launched during the reign of president Mwai Kibaki as a part of the economic pillar of Kenya's vision 2030 development plan. This project is expected to transform Kenya into Africa's ICT hub, reduce poverty and create many employment opportunities in Kenya. The project will be of great use to the real estate investors and is expected to change the real estate sector in a high percentage.