Safety concerns as Sh730m Everest Park develops huge cracks

Several houses at the Athi River-based Everest Park estate have developed massive cracks, prompting the authorities to undertake an urgent structural audit of the newly built property. The houses have developed huge cracks from the foundations up to the walls,…
New offices sit empty as Nairobi’s Upper Hill loses shine

Nairobi’s Upper Hill is feeling the pinch of oversupply as office vacancy rates remain relatively high, according to a report by commercial property services company Broll Kenya. Upper Hill, the report says, is becoming increasingly unpopular due to the heavy…
Kenya primed for a decade of warehouse building boom

Kenyan property developers are gearing up for a decade-long warehouse construction boom as demand for prime logistics and storage spaces surges. According to a new study by JLL, a global commercial real estate firm, the demand for industrial space in…
UK fund Helios, Acorn to build Sh7bn hostels in Nairobi

UK-based private equity fund Helios has signed a Sh7.4 billion deal with property firm Acorn Group to build 3,800 hostels in Nairobi, in a development that seeks to bridge the current student housing gap. The two entities have formed a…
Wealthy buyers snap up Sh46 million homes in Nairobi

Wealthy Kenyan buyers are paying big money for luxury houses in Nairobi in an emerging trend where trophy homes are increasingly becoming the perceived mark of success among the country’s super-rich citizens. Sales at astonishingly high prices – coming at…
Work on Sh2.7bn Garden City Business Park begins November

Construction is expected to begin in November on the proposed Garden City Business Park in Nairobi, pushing forward a project that seeks to deliver sustainable office and retail options to tenants on Thika Road. Kasarani Investments Holdings Ltd., a subsidiary…
How tourists are fuelling a new construction boom in Nairobi

As business executives continue to face pressure to optimise their overseas travel budgets, and make savings, many officials are choosing to stay at serviced apartments as a less expensive accommodation option. Budget travellers mainly those with families are also capitalising…