Real estate development in Kenya, and to that point anywhere in the world, typically involves various types of land that can be used for different purposes.
When it comes to land that is used for the development of family oriented homes, the end product can range from single homes to apartment complexes with retail spaces on the ground floor. There is no end to the variety of residential properties that are designed and built in this day and age.
Commercial buildings like shopping centers, malls, and standalone stores require specific planning permission to fulfill the desired outcome. Office buildings, which range from the small single unit to entire buildings have similar requirements to meet as regards local authorities and building controls.
Warehouses, distribution centers, industrial plants, factories, heavy manufacturing facilities, ranching, or forestry purposes, parks, sports complexes, golf courses, and other recreational developments all come under the commercial development category.
Each type of land comes with its own zoning, environmental considerations, and development potential, which developers need to account for when planning projects.
Why Buy or Invest in New Real Estate Developments in Kenya.
Kenya’s economy has shown consistent growth in recent years, making it one of the most promising markets in Africa. With a population of over 50 million people, Kenya’s middle class is expanding, creating increasing demand for housing and commercial properties. This trend is likely to continue as the economy diversifies and develops.
Urbanization is rapidly increasing, with more people moving to cities like Nairobi, Mombasa, and Kisumu for better job opportunities, education, and lifestyle. This leads to higher demand for residential, commercial, and mixed-use developments in urban centers. Investing in new developments in these areas ensures a stake in the growth of these key markets.
Kenya is a hub for international investors, and the government has created policies that encourage foreign direct investment (FDI) in real estate. Foreigners can legally own land in Kenya, subject to specific conditions, making it an attractive destination for global investors looking to tap into the African real estate market.
There is an increasing demand for specialized real estate developments such as eco-friendly buildings, gated communities, luxury apartments, office spaces, and retail centers. New developments in these areas offer investors a chance to capitalize on niche markets and changing consumer preferences.
Ongoing and planned infrastructure projects, such as the Nairobi Expressway, new airports, ports, and affordable housing projects, are improving connectivity within and between urban areas. These developments increase property values and create investment opportunities in previously underdeveloped areas.
