Category Archives: The Standard

Interest rate cap laws pushes Kenya real estate developers to alternative financing models

NAIROBI, KENYA: For years, property developers have had to contend with high land costs (grew by 19.4 per cent over the last five years), high construction costs (normally 70 per cent of total project costs), and lack of requisite infrastructure. They have had to rely on financial institutions and their own resources to meet such costs. But […]

Firm to put up 3,000 houses for the middle-class

Superior Homes Kenya, the developer of Greenpark Estate in Athi River, plans to put up 3,000 housing units housing project. The Sh30 billion gated community development targeting the middle class will be built on 337 acres of land that the company is set to acquire from East African Portland Cement Company adjacent to Greenpark Estate […]

Cement maker loses Sh750 million land suit

Court of Appeal found EAPCC to have been dishonest in dealings with real estate firm. Cement maker East Africa Portland Cement Company (EAPCC) has lost a suit seeking to reverse more than 300 acres of land to a real estate form, Superior Homes Limited. The Court of Appeal threw out the case and at the […]

Why mortgage uptake still low despite boom

Why is Kenya’s mortgage market still small even though the country is witnessing rapid growth in the real estate sector? Statistics show that loans uptake in the building and construction sector reduced from Sh106.3 billion in 2015 to Sh104.8 billion in 2016. This was a sharp contrast to mid-2010 when the number of new loans […]

Real estate still best bet despite election threat

Development of infrastructure, friendly Government policies and poor performance in other industries are set to cushion the real estate sector despite election jitters. Investment firm Cytonn said in its 2017 Land Research Report released yesterday land prices were also likely to hold and even grow heading into the August polls. “We expect land price increase […]

I own a school now, but it’s been a journey of trials and miracles

Different people are called to different businesses for different reasons. When Maureen Ngesa, 34, decided to homeschool her children, she had no idea this would lead her to starting a fully-fledged establishment a year down the line. She decided on homeschooling because she couldn’t find an education system she believed in near her home in […]

Developer sweetens deal for buyers with new payment model.

A developer has introduced a new payment model that gives home buyers up to three years to pay up. Superior Homes Kenya, developers of the Greenpark housing project in Athi River, will allow purchasers to pay at least a 10 per cent deposit of the selling price, another 10 per cent a month later, and the […]

Superior Homes to list on the Nairobi Securities Exchange

Superior Homes Kenya, developers of Greenpark Estate in Athi River, has announced plans to list on the Growth Enterprise Market Segment (GEMS) of the Nairobi Securities Exchange. The company has appointed Burbidge Capital as advisors for the listing, PKF as reporting accountants and A&K as transaction lawyers. Superior Homes’ managing director Ian Henderson said that […]

The Kenyan property market is steady

You have announced plans to put up a lodge in Elementaita. What informed this move? Every business would want to diversify its products to increase revenue streams. We also want to take advantage of Kenya’s tax regime that currently gives some incentives to developers venturing into the hospitality industry. What is the scope of the […]