Industry Highlights: Week Ending 02.06.2025
- HF Group posts Sh327m net profit in first quarter of the year
HF Group’s net profit for the first three months of trading ended March 2025 rose 2.2 times to Sh3279.3 million on the back of increased interest and non-interest income.
Source: Business Daily
- Real estate industry raises red flags over Finance Bill and 2025 tax proposals
Kenya’s real estate sector has sounded an urgent warning over proposed tax changes in the Finance Bill 2025 and the National Rating Act 2024, arguing these could slow down affordable housing, deter investors, and negatively impact millions of livelihoods.
Source: Eastleigh Voice
- Trump aid cuts: Expats’ exodus leaves leafy suburb developers in limbo
Following the formation of the Department of Government Efficiency, which aims to reduce waste in both human resources and funding, USAID may not function as it once did due to this scrutiny. This has left investors who invested in high-end properties in areas such as Kitisuru, Muthaiga, and Gigiri—popular with the diplomatic and NGO communities—in limbo regarding how to recoup their investments.
Source: The Standard
- Questions as Mukuru residents fail to get Ruto affordable houses
More questions have been raised than answers concerning the Mukuru affordable housing programme after President William Ruto handed over 1,060 completed units last week.
Source: Citizen Digital
- Property, shares sale earn KRA Sh15.63 billion
Tax receipts from the sale of land, houses, and shares in private companies rebounded to grow 40.39 percent in the nine-month period through March, signalling increased transactions in real estate and private equity. The Kenya Revenue Authority collected Sh15.63 billion in capital gains tax during the review period, compared with Sh11.14 billion in the previous year.
Source: Daily Nation
Land Sector
- Retailer Uchumi loses land ownership court battle
Troubled Uchumi Supermarkets has lost a court battle over a long-running land ownership dispute with the Kenya Defence Forces (KDF), dealing a blow to the retailer’s financial turnaround plans.
Source: Business Daily
- Is it your right to inherit your parent’s or grandparent’s land?
As the cost of living rises and economic realities dwindle, questions of entitlement, inheritance, and generational wealth are creating rifts in many Kenyan households.
Source: Daily Nation
- Equity free to sell EA Cables land over Sh2.2bn loan
East African Cables has suffered a blow after the Court of Appeal declined to stop Equity Bank from selling its four properties over a loan of Sh2.2 billion.
Source: Business Daily
- President vows to address Coast land problems in State House meeting
President William Ruto says his Kenya Kwanza administration is making progress in addressing the historical land issues in the Coast region. The Head of State said the government will further issue title deeds to residents.
Source: Daily Nation
- Why standoff on land pay out may plunge nation into power blackout
A row is brewing between landowners and the Kenya Electricity Transmission Company (Ketraco) over unpaid compensation. The firm acquired land for the 220kV electricity transmission line project in West Pokot and Trans Nzoia counties.
Source: Daily Nation
- Italian, tycoon’s family feud over land in Garden Estate
In a sale agreement dated August 6, 1990, Kiambu billionaire Joseph Kiarie sold his five-acre land at Garden Estate in Nairobi to Italian Bruno Rossi for Sh4 million.
Source: Daily Nation
Commercial Office Sector
- Purple Dot bets on sustainability with new 14-story Purple Tower
Purple Dot International launched its 14-story Purple Tower along Nairobi’s Mombasa Road at the end of May, marking a shift toward more sustainable and tech-enabled commercial real estate in the city.
Source: Capital Fm
- I&M buys Sh2.4bn Dar es Salaam building for head office
I&M Group has spent Sh2.4 billion to buy a building in Tanzania that now serves as the headquarters for its Dar es Salaam operations and host of its key branch as it seeks to deepen its presence in that market.
Source: Business Daily
Hospitality Sector
- State set to lease Mt Elgon Lodge in U-turn from sale
The government now wants to lease the Mount Elgon Lodge in a U-turn from an initial planned sale of the state-owned hotel alongside four other establishments—Golf Hotel Limited, Kenya Safari Lodges, Sunset Hotel, and Kabarnet Hotel.
Source: Business Daily
Infrastructural development
- NSSF targets Sh25bn stake in Nakuru road deal with China
The National Social Security Fund (NSSF) plans to acquire approximately half of a Chinese-backed consortium bidding to construct a new highway linking Nairobi and Mau Summit for up to Sh25 billion.
Source: Business Daily
- Inside plans for Sh455bn Mombasa-Nairobi highway
Construction of the Mombasa-Nairobi Expressway will begin early next year, former United States Ambassador to Kenya Kyle McCarter, who is at the centre of the ambitious Sh455 billion project, has announced.
Source: Daily Nation
- Kindiki says Sh100bn Isiolo-Mandera road will be complete by 2027
Deputy President Kithure Kindiki has assured residents of Northern Kenya that construction of the 750-kilometre Isiolo-Mandera road will be completed before the 2027 general election.
Source: Daily Nation
Construction Sector
- Questions over housing levy cash ‘diverted’ to build markets
Ambiguity in the Affordable Housing Act has allowed the William Ruto-led government to divert funds for building low-cost homes and their related amenities to unrelated projects such as the markets across the country.
Source: Daily Nation
- World Bank wants Shif and house levy relief for workers
The World Bank wants Kenya to exempt workers earning less than Sh32,333 a month from the housing tax and Social Health Insurance Fund (Shif) to boost their disposable incomes.
Source: Business Daily
Energy Sector
- Energy company Koko gets Sh23 billion World Bank fund
A World Bank-backed guarantee fund has disbursed a Sh23 billion ($179.4 million) loan to cushion the energy sector against risks as it expands in the Kenyan market.
Source: Business Daily
- Why Likoni residents want gas project halted
A legal dispute is looming over the construction of a 30,000-tonne liquefied petroleum gas (LPG) terminal in Dongo Kundu-Likoni, Mombasa. Likoni residents have sued Taifa Gas Investment SEZ Ltd., which is associated with Tanzanian billionaire Rostam Aziz, claiming that the project, estimated to cost Sh16.7 billion, would have adverse environmental impacts.
Source: Daily Nation
