Category Archives: Business daily

Athi River homes saved from demolition

IN SUMMARY High Court Judge George Odunga stopped the Water Resources Authority (Warma) from demolishing the residential units situated in Greenpark Estate. Warma claims that they have been developed on riparian land bordering the Stony River Athi. The developer argued that Warma had irregularly issued a directive on May 21, that the residential units should […]

Greenpark developer takes the long view of real estate investing

Rising demand for housing in Kenya’s major cities has attracted multiple investors to the real estate sector, leaving the regulators with a Herculean task of quality assurance and supervision of workmanship to weed the sector of rogue contractors. Ian Henderson, the managing director of Superior Homes Kenya, the company that built the award winning Sh15 […]

Regulator says flooded Athi River estate not on riparian land

The section of the upmarket Green-Park Estate in Athi River that was flooded after Stoni Athi River burst its banks does not lie on riparian land, the National Environment and Management Authority (NEMA) has said. NEMA director-general Geoffrey Wahungu said Tuesday that the Sh30 billion development is simply situated in a low-lying zone. “Athi Plains, […]

Firm gets nod for Portland land purchase

A property company has been allowed to proceed with the purchase of a Sh750 million contested prime parcel of land in Athi River owned by East African Portland Cement Company. The cement manufacturing company was appealing a High Court decision, which had extended the period for it to conclude land transaction with Superior Homes Ltd […]

Real estate firm to build 3,000 houses on Portland land

Real Estate firm Superior Homes Kenya has announced plans to construct 3,000 housing units in Athi River, Machakos County, in a project it estimates will cost Sh30 billion. The firm announced the plans Tuesday, a day after the Court of Appeal upheld a High Court ruling allowing it to proceed with the purchase of a Sh750 million […]

Jack Ma’s team of Chinese billionaires arrives in Kenya to hunt for deals

Jack Ma, the founder and executive chairman of Chinese e-commerce behemoth Alibaba, jetted into Nairobi Wednesday evening, starting a packed two-day visit that peaks with a public appearance at the University of Nairobi this afternoon to offer Kenyan youth tips on how to build successful business empires. Mr Ma, who is currently Asia’s richest man […]

Is bubble going to burst in Kenya real estate sector?

Is there really a bubble in Kenyan real estate sector? I don’t think there is. There was a bubble in the United States, the United Kingdom and Europe which grew until it burst in 2008 and on that occasion the growth was tangible, mistakes clearly evident in hindsight and the impact on commerce and society […]

Real estate developers step up push to go green

Some five per cent of the 70 property developers represented by a Nairobi lobby have embraced green technologies to tap into a growing environmentally conscious clientele seeking energy-efficient homes. According to Wangari Muchiri, a real estate and sustainability consultant with Jones Lang LaSalle (Kenya), investing in a green building costs between 0.5 to one per […]

Cytonn acquires Sh1bn stake in Superior Homes ahead of NSE listing

Cytonn Investments has acquired a 25 per cent stake in family-owned Superior Homes Kenya Ltd, which intends to list on the Nairobi Securities Exchange (NSE) this year. The acquisition deal for the Greenpark Estate developer signed in Nairobi on Tuesday is worth Sh1 billion. Cytonn Investments managing partner and chief executive Edwin Dande said the […]