REAL ESTATE NEWS

More than 100,000 Kenyans have so far registered online for President Kenyatta's low-cost houses program. Principal Secretary for Housing and Urban Development Charles Hinga says the number of Kenyans registering for the program on the Boma Yangu portal has increased in the past few weeks.  PS…

A Chinese real estate company has revealed plans to set up a Sh200 billion city in Kenya. Dubbed “Friendship City”, the investment project will sit on 1,200 acres of land in Athi River. The Business Daily reports that the modern city will comprise of residential homes, factories, schools, hospitals…

Nairobi Governor Mike Sonko has launched the construction of Sh7 billion low-cost houses in Nairobi's Ngara Estate. The project, dubbed River Bank Apartments, is in line with President Kenyatta's affordable housing plan. The project is being undertaken by Erdemann Property Limited and will be…

The National Assembly Environment and Natural Resources Committee has saved the multi-million shilling Seefar Apartments in Nairobi from demolition. The Committee has ordered the immediate withdrawal of a notice of demolition issued to the owners of the multi-story residential building in Nyayo…

Kenyan landlords are pushing for a plan that seeks to have rent defaulters listed with credit reference bureaus (CRBs). The Urban Landlords and Tenants Association of Kenya (ULTAK) is seeking the Central Bank of Kenya's authority to implement the proposal. If CBK approves the request, landlords…

Kenyans in the diaspora and wealthy local executives have purchased 86 units off-plan in an upcoming residential development in one of Nairobi's upmarket estates. The units are under the Sh4.5 billion Purple Haze residential development in Kilimani, Nairobi. The developer, Edifice Limited says the…

Gatundu South Member of Parliament Moses Kuria has appeared to poke holes at one of President Kenyatta's big four agenda. In a post on social media, Kuria has indirectly suggested that Kenyatta's affordable housing project in unrealistic and unachievable within the set period. Under the low-cost…

The government will from March 1st, 2019 begin deducting 1.5 percent housing levy from all Kenyan workers in the public and private sectors. Cabinet Secretary for Infrastructure James Macharia says this is after workers’ union and employers agreed to withdraw court cases that sought to block the…

The United Nations Office for Project Services (UNOPOS) has set aside Sh1 billion to help Kenya construct 100,000 low-cost housing units. Unops Executive Director Grete Faremo says the Sh1 billion is the seed funding aimed at wooing other development partners to chip into the project. Faremo says…

President Kenyatta has defended the proposed 1.5 percent levy deducted from the salaries of every Kenyan employee to go towards funding the affordable housing project. President Kenyatta says Kenyans should view the levy as a way of saving rather than a tax even as he assured workers that the cash…