Industry Highlights – Week Ending 17.05.2025
01. Real Estate Sector
Superior Homes Kenya partnership with KCB Bank
Superior Homes Kenya, a real estate developer, has entered into a strategic partnership with KCB Bank Group to create innovative mortgage solutions to empower homebuyers. The agreement will give investors access to customised mortgage solutions from KCB Bank, targeting mid-income and premium market segments.
Source: Superior Homes
Tips on how to upgrade and add value to your home without breaking the bank.
From simple cosmetic changes like fresh paint and updated light fixtures to creative space expansions and DIY projects, there are numerous ways to affordably increase your home’s value.
Source: Daily Nation
StanChart to sell Sh 175m Nyeri branch property
Standard Chartered Bank Kenya has put up for sale the 0.4-acre land hosting its Nyeri Branch as it seeks to unlock cash from its real estate holdings. The property comprises a single-storey branch with a two-storey residential house, all valued at Sh 175 million on the lower side.
Source: Business Daily
How Gen Zs are redefining the blueprint for urban property ownership
For decades, the trajectory of land ownership in Kenya followed a familiar path: save diligently, buy a plot on the outskirts of a town or city, and eventually build a family home, often long after retirement.
Source: The Standard
Bungalows remain King despite the Kenya apartments boom
A majority of Kenyans prefer building and buying bungalows, even as developers increasingly invest in high-density housing like apartments and maisonettes.
Source: Daily Nation
02. Office Sector
Kofisi reports a profit of Sh2.1bn
K-Ofisi, a company that provides flexible office spaces with operations in Kenya, Tanzania, Nigeria, and Morocco, reported a profit of Sh 2.1bn for the period ended 31 December 2023. The company generated revenues of Sh 762M from Kenya alone, which accounted for 71% of total revenues.
Source: Pesa Wall
03. Land Sector
Sakaja targets Sh10 bn in crackdown on city land rates defaulters
Nairobi County commenced a crackdown on land rate defaulters on Monday, May 12, days after kicking off the eviction of tenants who had failed to pay rent for years. If compliance is enforced, it projects to collect over Sh10 billion in outstanding rates, money essential in enhancing service delivery to residents.
Source: Daily Nation
Scandal of Sh 1.6 bn land, which squatters never got
A recent report for the financial year ending June 30, 2024, by the Auditor-General, Nancy Gathungu, highlighted that the Land Settlement Fund, which was created in 2012, even after spending Sh 1.6 billion, has failed in its core mandate to buy land for landless Kenyans.
Source: Daily Nation
5,000 homeowners staring at eviction from the KMC property
At least 5,000 residents of Athi River township in Machakos County will be evicted from land belonging to the Kenya Meat Commission (KMC). The firm issued a 14-day vacation notice to the occupants of Land LR No. 10281, measuring 145 acres, on May 7, expiring on May 21.
Source: Daily Nation
300 families face eviction from land sold by an ex-MP
Over 300 families are facing eviction from land they bought from a former MP after a court ruled the politician did not own the land.
Source: Daily Nation
Lawyer stops Kiambu housing project over land ownership row
The affordable housing project continues to face setbacks after the High Court stopped the government and Kiambu County from acquiring a lawyer’s piece of land in Kikuyu town.
Source: Daily Nation
04. Industrial Sector
EPZ Sales rise 21pc on foreign demand
Sales from the Export Processing Zones (EPZs) grew 21.7 percent to Sh 136.2 billion last year, attributed to an increase in the number of firms in EPZs and a strong demand in the export market.
Source: Business Daily
05. Infrastructural development
Rironi–Mau Summit dual carriageway project to begin on July 1
The construction of the 170 km Rironi-Mau Summit road is set to commence on July 1 after the government finalised a Public-Private Partnership (PPP) funding agreement with investors. The project aims to enhance traffic flow between Nairobi, Nakuru, and Western Kenya.
Source: Capital FM News
SGR allocated Sh 4.8 bn ahead of KRC takeover
The Treasury has proposed a Sh4.8 billion budget for the Standard Gauge Railway (SGR) ahead of full takeover of the operations and extension to the border town of Malaba.
Source: Business Daily
New PPPs model opens door for local firms after Adani deals flop
Kenyan firms are angling to invest in the country’s key mega infrastructure projects, including the Jomo Kenyatta International Airport (JKIA) months after the cancellation of lucrative deals with the Indian conglomerate Adani Group.
Source: The Standard
KRA loses battle for Sh1.7bn from roads maintenance levy
The Kenya Revenue Authority (KRA) has lost its bid to tax billions of shillings collected monthly from motorists through the fuel levy meant for road maintenance.
Source: Business Daily
06. Construction Sector
Why the tribunal blocked Ruto’s housing project in Lang’ata
The National Environment Tribunal temporarily halted the construction of the 17-storey apartment blocks, which will consist of 15,950 housing units, pending the determination of a petition filed by Busia senator Okiya Omtatah. He alleged that the National Environment Management Authority (Nema) had taken no action even after being informed that the housing project was about to commence without the mandatory environmental and social impact assessments and requisite approvals.
Source: Business Daily
Contractors default on 37 percent of loans on cash flow woes
Contractors in the building and construction sector defaulted on more than a third of the loans they took to undertake projects, underlining the impact of stalled government projects on banks. The latest CBK data shows Sh 52.1bn out of Sh 140bn borrowed was non-performing at the close last year.
Source: Business Daily
The forgotten roles of geological expertise in the construction industry.
Before foundations are cast, a proper geological and geotechnical investigation should be standard practice, employing trial pits and borings to access and classify the soil layer.
Source: Business Daily
Eviction pain in Ruto’s housing project
President William Ruto’s housing dream was meant to be a lifeline—a chance to give dignity to ordinary Kenyans while creating jobs. For some, however, it has been a nightmare. Instead of housing dignity, it has delivered evictions, lawsuits, and social dislocation.
Source: Daily Nation
07. Energy Sector
Oil dealers inflate cooking gas prices for huge profits
Multinational oil marketing companies (OMCs) in Kenya are reportedly earning massive profits from tax-exempt cooking gas sales, while consumers continue to face inflated prices for liquefied petroleum gas (LPG). This situation contradicts the government’s goal of promoting affordability and supporting low-income households.
Source: Daily Nation
Kenya turns to Tanzania to avoid power rationing
Kenya has turned to Tanzania to boost electricity supply amid a rising demand and freeze on new power purchase agreements (PPAs), underscoring its reliance on neighbouring countries to avert power rationing.
Source: Daily Nation
Oil project faces fresh delays after Gulf Energy deal
Turkana oilfields development and operating plan approval faces following the sale of the project to Gulf Energy, further deferring Kenya’s ambitions of earning petro-dollars.
Source: Business Daily
Oil firms seek fines waiver for overdue product in KPC tanks
Local oil marketers have been hit with fines for fuel that has overstayed in storage facilities of Kenya Pipeline Company (KPC) amid hitches in selling fuel in the region.
Source: Business Daily
