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Sh5bn holiday homes for sale in Kilifi county

A real estate developer is has started the construction of holiday homes in Kilifi county, targeting luxury buyers looking for properties at the Coast. Sultan Palace Beach Retreat sits on 43 acres in Kikambala. Sultan Palace Development Ltd said prices for villas have already increased by Sh7 million each during the pre-construction period of the first phase, to Sh72 million from an earlier offer price of Sh65 million. See more…

Cement, steel manufacturers cut retail prices

Steel and cement manufacturers have joined food processors and long distance buses in cutting prices as pressure mounts on other producers to transfer benefit of dropping energy prices to consumers. National Cement has cut the ex-factory price of its Simba brand by Sh25 to Sh575 per 50kg bag – retail prices vary depending on the location due transport cost component. See more…

A first-time homeowner's journey to living the dream

Eight years ago, Steven* did not own a home. His dreams were valid though. He planned and pursued his dream and last year, he moved his family into a new neighbourhood – to his own house. What’s more, the home was acquired outright. In his words, the homeownership journey is treacherous – at one point you are sure, and in another moment the dream seems to slip through. See more…

Fusion capital eyes Mombasa market with creekside apartments

Real estate developer Fusion Capital is set to boost the supply of houses at the coast once it commissions its 90 three-bedroom apartments on the shores of Mtwapa Creek. To bring down the cost of the homes, the developer has used the concept of a gated community to construct the Marina Creekside Luxury Apartments, according to group Chief Executive Luke Kinoti. See more…

Have money? Put it in urban land, cows, gold, or oil... in that order

The value of land in nine of the fastest growing suburbs of Nairobi has grown fivefold since December 2007, a new report shows. The average value per acre in these crowd-pulling zones rose from Sh32.5 million in December 2007 to Sh173.7 million in December 2014, according to the Hass Composite Land Index, which tracks land prices in and around Nairobi. This impressive performance of the sector has attracted the attention of many investors and analysts, the investors seeking a piece of the pie and the analysts out to understand what drives the sector. See more…

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