The Developer's Digest, September - October 2015 Issue

SEPTEMBER – OCTOBER 2015 ISSUE 

Overview of the Kenyan Housing 

and Real Estate Market 

IN 

THIS 

ISSUE 

Focus on Policy 

KPDA Directory of Members 

KPDA Partnerships

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Page 3: 

Page 8: 

From the Secretariat 

Focus on Policy 

Overview on KPDA 

Activities 

Page 10: KPDA Member Profile 

Page 17: KPDA Partnerships 

Page 23: Industry Experts 

Page 26: Directory of KPDA 

Members 

Palkesh Shah 

Board Member 

Margaret Kibe 

Board Member 

Kenneth Luusa 

Board Member 

Gikonyo Gitonga 

Board Member 

KPDA SECRETARIAT 

Elizabeth Mwangi - Oluoch - CEO 

Nelly Oneya - Finance and Administrative Assistant 

Peter Mbugua - Research and Development Intern 

Mwenda Thuranira 

Board Member 

Visit us online 

The Secretariat address is : 

Fatima Flats, Suite 4B, Marcus Garvey Road off Argwings Kodhek 

Road, Nairobi | Tel: + 254 737 530 290 | 0705 277787 

Email: admin@kpda.or.ke | Website: www.kpda.or.ke 

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Kenya Property Developers Association... Development brings Development!

FROM THE SECRETARIAT 

Dear Readers, 

I welcome you all to review another 

informative issue of the KPDA 

newsletter, The Developer’s Digest. First 

things first, our family has now grown 

to 87 members! Even though that is 

just an additional 5 members from the 

time of publishing the last issue of this 

publication, it is no mean feat! 

I encourage you all to spread the word 

that KPDA is the policy advocate for 

every property development player in 

Kenya and if you are not a member, you 

are missing out! 

Our ‘Focus on Policy’ article in this issues 

addresses an overview of the Kenyan 

housing and real estate market in Kenya. 

There are interesting statistics featured 

in that article that can help you make 

informed business investment decisions. 

One of our members, Kenya Building 

Society recently rebranded to HF 

Development & Investment Ltd. 

Hongera! An article on HFDI is also 

included in this issue. 

As part of our ‘Member Profiles’ in this 

issue, we have covered Cytonn Real 

Estate, Strauss Energy Ltd and Tatu City 

Ltd. We are always proud to show off 

members of our family. 

Unfortunately in this issue, we are 

unable to publish the report on the 

NCC Building Permitting Approvals 

data but we do hope to give you an 

updated report in the final issue of The 

Developer’s Digest this year. 

Speaking of the last issue for the year 

2015, I am pleased to announce that 

we will be having a hard copy of our 

newsletter! Look out for this exciting 

copy that will be produced before we 

break for our December holidays. 

Finally, I would like to invite all our 

members and partners to attend our End 

KPDA wishes to welcome our newest members: 

• Mabati Rolling Mills Limited 

• Falcon Development Limited 

• Elm Ridge Limited 

• Mugumo Developments Limited 

• Buy Rent Kenya Limited 


of Year Corporate Networking Koroga 

Event which will be held on Friday, 20th 

November 2015 at the Goan Gymkhana 

Club in Parklands. 

For those of you who have attended any 

of our Korogas you know that we do not 

disappoint. I guarantee that we will be 

pulling out all the stops for this last one 

for the year! 

Please feel free to contact us at the 

secretariat and give us your feedback 

on how we can better serve you. You 

can reach us through our telephone 

numbers 0737 530 290 or 0705 277 787 

or through my email admin@kpda. 

or.ke. 

“Since we cannot change reality, let 

us change the eyes which see reality,” 

happy November! 

Elizabeth 

Welcome to the KPDA Family! 

Advocacy that champions the interests of the 

industry to both the public sector and the wider 

private sector to ensure a better business 

environment for the property industry; 

Information on the latest issues affecting the 

industry, via regular publications, newsletters, 

media reports and research; 

Networking events, putting members in touch with 

industry leaders and potential clients; 

Networking events, putting members in touch with 

industry leaders and potential clients; 

Marketing opportunities for member companies 

with discounts offered to various advertising 

platforms; 

Discounted rate at both KPDA events and events 

organized by international and regional 

organizations in the building and construction 

industry; 

Access to emerging markets and exposure to joint 

venture opportunities. 

While KPDA membership is open only to 

companies, the benefits of membership extend to 

all staff in member companies. 

The Kenya Property Developers Association was established in Nairobi in 2006 

as the representative body of the residential, commercial and industrial 

property development sector in Kenya. It is an emerging Business Member 

Organisation which works in proactive partnership with policy-makers, 

financiers and citizens to ensure that the property development industry 

grows rapidly but in an organized, efficient, economical and ethical manner. 

Our current membership stands at 85 members. 

The Association’s strategic objectives include working with the Government 

and other stakeholders to promote policies that stimulate the property sector; 

contributing to excellence in building through promotion of world-class 

ethical standards and educational programs; compiling focused research and 

analysis to inform investment decisions, policy analysis and public education; 

developing new financing mechanisms to help low and middle income 

Kenyan families own homes; providing a forum where property investors can 

share expertise and build business contacts; and harmonising development 

activities with citizen concerns, like neighbourhood associations and 

environmental preservation groups. 

WHY JOIN THE KPDA FAMILY? 

Access to 

potential 

investors 

Working 

closely with 

government 

institutions 

Increase 

your business 

profit 

KPDA 

MEMBERS 

Working 

closely with 

regulatory 

authorities 

Strategic 

partnerships to 

ease land 

processes 

Opportunities 

for forming joint 

ventures with 

national and 

international 

industry players 

Development brings 

development! Become a part of 

this formidable family! 

Let KPDA become your partner in advocacy, 

education, information, research and 

helping develop your business. 

1 

Kenya Property Developers Association... Development brings Development! 

For more information, kindly contact 

our KPDA secretariat on 

0737 530 290 or 0705 277 787 or 

by Email: admin@kpda.or.ke. 


Fatima Flats, Suite B4 Marcus Garvey Road 

Off Argwings Kodhek, Kilimani Area 

P. O. Box 76154 – 00508 Nairobi, Kenya 

Telephone: +254 737 530290/0705 277787 

Email: admin@kpda.or.ke Website: www.kpda.or.ke

FOCUS ON POLICY 

OVERVIEW OF THE KENYAN HOUSING 

AND REAL ESTATE MARKET 

INTRODUCTION 

Real estate is coming of age across 

emerging markets. Infrastructure 

development, young demographics and 

strong economic fundamentals have 

fuelled the rapid growth of property 

sectors and the result is increased 

interest from global property investors. 

According to Hass Consult, values in 

Kenya´s residential property market 

continue to rise, amidst robust economic 

growth and a sharp increase in the 

population of middle-class and expats. 

Residential property values in Kenya 

have skyrocketed a stunning 357% from 

2000 to Q3 2014. 

BRIEF HISTORY OF HOUSING 

AND REAL ESTATE IN KENYA 

The Africa Development Bank Group 

describes the African continent’s middle 

class as having reached 34.3% of the 

population in 2010. In Kenya it now 

encompasses more than 44.9% of the 

population. This phenomenon has been 

accompanied by rapid urbanisation 

and strong growth in consumption 

expenditure; housing demands 

therefore, are not idle to these changes. 

Across the continent, housing is more 

often divided in between the formalbuilt 

types (housing units built by 

developers on serviced land, with 

property titles and informal–built types 

(housing built by individuals often in an 

incremental manner, on land which is 

not always serviced and where titles are 

not always available). 

Beyond affordability, housing has 

always been a contentious issue in 

Africa as a whole. Closely linked to land 

rights, associated with basic needs of 

the population, its public good nature 

and universal reach has given grounds 

to government intervention under the 

form of social housing projects. 

It is important for the private sector to 

understand what it can do – on its own 

to satisfy housing needs and in particular 

to expand supply of housing to middle 

and low income earners. 

STATISTICS 

• During the year to end-Q3 2014, 

the Hass Composite Property Sales 

Index, a measure of asking sales 

prices of residential properties, 

rose by 4.7%, a sharp improvement 

from meagre y-o-y increases of 

0.05% in Q2 2014, 1.7% in Q1 2014, 

and 0.3% in Q4 2013, based on a 

report released by Hass Consult 

Ltd. Quarter-on-quarter, residential 

property prices increased 3.1% in 

Q3 2014. 

• The Hass index is based on 4, 000 

to 6, 000 properties tracked across 

Kenya, which are collected from 

multiple estate agencies and all 

publicly available house sales, 

including in property magazines, 

property websites and the national 

media. 

• The average value of a property 

in the country surged to KES25.6 

million (US$283,000) in September 

2014, from KES7.1 million 

(US$78,482) in December 2000, 

according to Hass Consult. 

• The average price for a 1-3 bedroom 

residential property is currently 

KES11.8 million (US$130,435). On 

the other hand, the average price for 

a 4-6 bedroom residential property 

is KES36.5 million (USS403, 463). 

BY PROPERTY TYPE: 

• The average asking price for 

detached houses increased 

3.3% y-o-y to KES36.3 million 

(US$400,788) in Q3 2014. Prices for 

detached houses also rose by 3.2% 

during the latest quarter. 

• The average asking price for semidetached 

houses surged 8.4% y-o-y 

to KES20.9 million (US$230,756) 

in Q3 2014. Semi-detached house 

prices increased 2.4% q-o-q in Q3 

2014. 

• The average asking price for 

apartments stood at KES13.1 

million (US$144,637) in Q3 2014, up 

6% y-o-y and 3.6% q-o-q. 

• In Kenya, most property purchases 

are cash-based transactions. 

Because of this, the mortgage 

market remains underdeveloped. 

• In September of 2014, the Kenya 

National Bureau of Statistics revised 

the country’s GDP for 2013 from KES 

3.8 trillion to KES 4.76 trillion. As a 

result, the growth rate in 2013 was 

revised from 4.7% to 5.7% leading 

to a 25% increase in the value of the 

Kenya economy. 

• However, in the Q3 of 2014, the 

economy expanded by 5.5% year 

on year down from 6.2% in the 

corresponding period in 2013. 

This boost has been attributed 

to an increase in construction, 

manufacturing and insurance 

activities (Central Bank of Kenya, 

2014). 

THE REAL ESTATE MARKET 

Kenya’s lucrative real estate sector has 

rapidly expanded to become the fourth 

biggest contributor to the country’s 

wealth. 

The updated national accounts, show 

that the contribution of the real estate 

sector to Kenya’s gross domestic product 

(GDP) has been revised 10.6 per cent in 

2014 which is more than double from 

the previous estimate of 4.9 per cent in 

2013. 

Growth over the past 10 years saw the 

real estate industry dislodge the retail 

sector as the fourth largest contributor 

to the economy even as traditional 

sectors such as agriculture, wholesale 

and financial services continued to 

diminish. 

Kenya’s GDP — the market value of 

all goods and services that a country 

produces in a year — is expected to grow 

by a fifth to reach Sh4.5 trillion ($51.3 

billion) from an estimated Sh3.8 trillion 

in 2013 with the release of fresh data. 

Analysts expect the new data to dictate 

future investment decisions, projecting 

that banks and businesses are most 

likely to put their money in the property 

market in pursuit of higher returns from 

increased activity and growth in the 

sector over the past decade. 

It cannot be ignored that there has 

also been a tremendous increase in 

developing shopping malls, interest 

REAL ESTATE DEVELOPMENT IN KENYA - PRICE CHANGES OVER TIME 

Develop - 

ment 

name 

Number 

of 

Units 

Year of 

completion 

WHAT DOES BUILDING A 

HOUSE COST? 

Dwellings can be built in many 

configurations, from detached houses 

to high-rising apartments. Each of the 

housing types has special requirements 

in terms of special planning and 

implications on building costs. 

For developers, the choice of the 

building solutions is determinant when 

it comes to the targeted market. For 

instance, high-end products tend to be 

built on more expensive land. 

House type 

Off-plan 

prices (USD) 

Prices on 

completion 

(USD) - 

or p re-sale 

prices for 

unfinished 

houses 

Through surveys on various developers, 

as well as through historical data 

supplied by Shelter Afrique, it appears 

that the typical cost structure for a single 

unit across housing typologies in Kenya 

is roughly as follows: 

1. 60% of a unit’s cost in construction 

(of which 70% in materials and 30% 

in labour), 

2. 10% in infrastructure, 10% in 

professional fees (architects, 

engineers, required public permits 

etc.) 

3. 5% in financing and 

4. 5% contingency. 


from international food chain brands as 

well as increase in the development of 

upmarket prime residential property. 

According to the Knight Frank Kenya 

Market Update for the 2nd half of 2014, 

there has also been a slow up-take of 

office space in 2014 compared to 2013. 

The amount of office space released into 

the market in 2014 declined by circa 30% 

from 1.5 Million Ft² in 2013 to 1.1 Million 

Ft² in 2014. Although this is expected to 

change in coming years. 

Off plan vs. 

Completion 

price 

change 

Cur rent 

prices 

(USD) 

Off 

plan vs. 

cur rent 

price 

change 

A 20 2005 3 bed 59 880 95 808 60% 179 641 200% 

B 15 2007 5 bed 155 689 203 593 31% 455 090 192% 

C 40 2007 2 bed 29 940 33 533 12% 77 844 160% 

2007 3 bed 35 928 41 916 17% 89 820 150% 

D 200 2012 3 bed 89 222 113 772 28% 113 772 28% 

2012 4 bed 111 377 143 713 29% 143 713 29% 

E 48 2013 1 bed 89 820 143 713 60% 101 796 13% 

2013 2 bed 107 784 179 641 67% 119 

760 

Source: Shelter Afrique Information to the authors 2012, AfDB Informal Survey of Developers 2012. 

11% 

Such a breakdown is based on prevailing 

market preferences from buyers: cement 

built, 1 to 3 bedroom houses (detached 

or semi-detached) of 80 m2 to 100 m2. 

With regards to construction materials, 

all basic hard supplies such as steel, 

cement, or plaster are produced locally, 

although production does not always 

meet local demand. Fittings such as tiles, 

kitchenware and so forth are usually 

imported. Building costs per square 

meter data gathered from the Institute 

of Quantity Surveyors of Kenya are 

presented in the below table: 

3 



4



BUILDING COST PER M 2 (USD) 

High class single units 

(maisonettes) 

High class high rise 

flats 

Central region 

(incl. Nai robi) 

Coastal region 

(incl. Mombasa) 

Weste r n Region 

Unweighted average 

ac ross regions 

479 515 515 503 

539 515 515 523 

Low cost, low rise flats 371 335 335 347 

Low cost, high rise 

flats 

Site and service 

scheme 

419 407 407 411 

204 228 228 220 

Rates are general rates for building works excluding site works. Care should be taken 

in using the prices without considering elements such as location, specification of 

building materials, wall to floor ratio, floor to ceiling heights, site topograph y, type 

of joinery fittings and quality of electrical and mechanical installations. Data 

gathe red from the Institute of Quantity Surveyors of Kenya for December 2011. Table 

initially in Kenyan Shillings. Exchange rate used: KSH 83.5 to the USD. 

150 companies (of which financial 

institutions (lenders and investors), 

property developers, building material 

suppliers etc.) invest in housing finance 

across the region. Most notable is the 

increase in private equity funds (CAHF 

2012:4). 

WHERE ARE HOUSES BUILT? 

Land regulation and property titles 

are at the cornerstone of housing. In 

Kenya, land and property regulations 

have been inherited from colonial times 

REAL ESTATE DEVELOPERS PROFILE 2012 

Avg Years of experience of 

established developers 

and involve a rather complex tenure 

mechanism framed in many difference 

laws. 

Provisions in the 2010 constitution 

regarding equal access to land (in 

particular articles 60 to 68) seek to 

bring in clarity the matter. Regulatory 

stability and intelligibility are required 

for property market development. 

Indeed, in order to attract the private 

sector in housing, and in particular in the 

middle to low market segments, relaxed 

and straightforward land regulation 

are needed (Hoek-Smit 2011). 

One indication of the complexity and 

multiplicity of regulation is highlighted 

by the number of days required to 

register property as shown in the 

previous table. Compared to other 

East and Southern African countries, 

registering property is not only 

cumbersome, but also lengthy and 

expensive. 

KEN YA UGANDA TANZANIA ZAMBIA 

4-7 0-3 5-8 7-10 

Based on these, a low cost, low rise flat of 

50m2 in Nairobi can amount to roughly 

USD 18,000 just in building costs, which 

as noted in the above table would 

represent 60% of total costs. Adding 

40% to that amount to account for other 

development costs would bring the 

price up to USD 26,000 - excluding the 

developer’s margin. 

For a low-cost, high-rise flat in Nairobi 

costs would amount to USD 29, 000 

(excluding developer’s margins), while 

high-end maisonettes would cost USD 

33, 500. 

The figures highlight that it is difficult 

from a cost perspective for the private 

sector to deliver units at a charge that 

would match incomes of most of the 

population. They also point out that 

housing types can matter, as well as 

whether housing is formal or informal. 

WHO CAN FINANCE WHAT? 

Access to finance constraints in housing 

can be seen both from the supply and 

the demand side. On the supply-side 

lays access to finance shortcomings for 

developers. In other words, how can 

developers access the funding required 

to put houses into the market? On the 

demand side lay issues related to access 

to finance for households in order to 

purchase houses. In order words, how 

can houses put in the market be bought? 

FINANCING HOUSING 

SUPPLY 

From a developer’s perspective, 

the lack of equity finance in the 

residential housing sector has been a 

critical constraint contributing to the 

insufficient, or often times inadequate, 

housing stock in several countries across 

the continent. 

Housing developments with too low 

equity make it difficult to access debt 

finance for construction, resulting in no 

margins for delays or in cost overruns. 

This limits the development of housing 

projects delivered to market, resulting 

in higher priced housing stock and 

threatening the capital introduced by 

the developer in the first place. 

Excessive debt leveraging of real estate 

developments also obliges developers 

to engage into high levels of pre-sales 

in order to have a cash flow that allows 

for loan repayments over the course of 

construction. This can compromise any 

depo- sit finance from initial purchasers 

who invest in pre-sales and induces cash 

flow risks to the developers as well as 

foregone income since they would tend 

to sell at a lower price than if they did at 

the end of construction. 

Shelter Afrique estimates that over half 

of their non-performing loans can be 

attributed to insufficient developer 

equity, which lengthens construction 

time and increases the cost of finance. 

Financiers across the region are 

beginning to realize that equity 

financing for developments is in short 

supply, and that it can offer interesting 

returns when compared against market 

housing uptake and prices practiced in 

the market. 

As a consequence, an increasing number 

of investors are entering the market. 

According to CAHF (2012), a review 

of investors in the Southern African 

Development Community region and 

Ghana, Kenya and Nigeria shows over 

Median Annual Tur nover (USD) 2 million 300,000 3 million 5 million 

Number of employees



Beyond this consideration, the 

implication of low/slow local 

government action to support real 

estate developments is that off-site 

infrastructure becomes an even scarcer 

service which acquires a higher value, 

ultimately paid for by buyers. 

CHALLENGES FACING THE 

HOUSING AND REAL ESTATE 

MARKET 

1. Finance: 

a. Providing Affordable Housing 

Through surveys on various developers, 

as well as through historical data 

supplied by Shelter Afrique, it appears 

that the typical cost structure for a single 

unit across housing typologies in Kenya 

is roughly as follows: 

1. 60% of a unit’s cost in 

construction (of which 70% in 

materials and 30% in labour), 

2. 10% in infrastructure, 10% in 

professional fees (architects, 

engineers, required public 

permits etc.) 

3. 5% in financing and 

4. 5% contingency 

The above highlights why it is difficult 

from a cost perspective, for the private 

sector to deliver units at a charge that 

would match incomes of most of the 

population. They also point out that 

housing types can matter, as well as 

whether housing is formal or informal. 

b. Access to Finance 

1. Lack of equity finance in the 

residential housing sector 

2. Housing developments with 

too low equity make it difficult 

to access debt finance for 

construction, resulting in no 

margins for delays or in cost 

overruns. 

3. Excessive debt leveraging of real 

estate developments also obliges 

developers to engage into high 

levels of pre-sales in order to have 

a cash flow that allows for loan 

repayments over the course of 

construction. 

2. Land 

1. Issuance of title deeds 

2. Availability and affordability 

3. Tenure 

3. Policy 

1. Lack of relaxed and straightforward 

land regulation 

2. Lack of harmonized legislation 

3. Lack of trunk infrastructure 

provision by government and 

local authorities 

4. Processes 

1. One indication of the complexity 

and multiplicity of regulation 

is highlighted by the number 

of days required to register 

property. Registering property 

is not only cumbersome, but also 

lengthy and expensive. 

2. Beyond property registration and 

tenure, one of the most important 

aspects for property development 

is trunk infrastructure provision. 

The development of such 

infrastructure is highly linked to 

price since as developers buy land 

and service it with infrastructure, 

land prices rise immensely and 

the increment is passed on to the 

buyers. 

Currently the registration process 

involves all of the following players: 

1. Ministry of Land, Housing and 

Urban Development 

2. The National Construction 

Authority 

3. County Government 

4. National Environment and 

Management Authority 

5. Kenya Urban Roads Authority 

6. Water Resource Management 

Authority 

7. Kenya Power and Lighting 

Company Ltd 

8. Relevant Financial Institution 

9. Relevant Advocate Firm 

OPPORTUNITIES IN THE 

HOUSING SECTOR KENYA 

The discovery of minerals and expansion 

of infrastructure (transport and 

telecommunication) e.g. Lamu Port 

Southern Sudan Ethiopia Transport 

(LAPSSET Project). 

Growing population with an ever 

increasing housing deficit therefore 

availing a huge unfilled demand-supply 

gap 

Kenya is projected as East Africa’s 

economic hub, with a projected Gross 

Domestic Product of 5.7 percent in 

2014 according to the Kenya National 

Bureau of Statistics, creating more 

opportunities for the real estate sector. 

The property market will remain strong, 

with increased demand for high-end 

property segments holding steady to 

meet the international standards for 

the ever-growing expat community and 

middle class. 

With demand for real estate in Nairobi 

sending property prices soaring on 

the back of rapid urbanisation, nearby 

counties are also seeing an uptick in 

activity as developers look to channel 

funds into satellite cities and commuter 

towns. 

CONCLUSIONS AND 

RECOMMENDATIONS 

1. With regards to demand and 

supply, findings suggest that 

there is a large formal housing 

deficit fueling price hikes in 

Kenya. An increase in housing 

supply is paramount in order 

to extend home ownership. At 

prevailing rates, affordability 

remains a key constraint. In 

conjunction with public sector 

policies, improving stakeholder 

capacity to ease the supply 

and demand side constraints is 

paramount. 

2. In terms of building solutions, 

it was noted that key structural 

attributes and characteristics 

of dwellings on which building 

costs are based can have impact 

on pricing. With this in mind, 

considering the type of housing 

that the market demands and 

the related costs, it is difficult 

for the private sector to supply 

low-income segments of the 

population. 

REAL ESTATE DEVELOPERS PROFILE 2012 

Table 4 Property Registration 2012 

Days to 

register 

property 

Cost to register property 

(% of p roperty value) 

Procedu res requi red to 

register property (number) 

Kenya 73 4,30 9 

South Africa 23 5,90 6 

Tanzania 68 4,40 8 

Uganda 52 1,90 12 

Zambia 40 8,20 5 

Source: Doing Business database, World Bank 2012. 

3. Linked to it is the ability of 

developers to benefit from 

economies of scale as they 

invest in developments. Only 

a handful of them can afford 

to invest into medium to large 

scale developments of 20 units 

and above. Not only do they 

lack technical capacity, but they 

also face difficulties in accessing 

finance, in particular equity. 

4. Yet even if developers were able 

to lower their costs by investing 

in alternative housing solutions, 

(and assuming that such a 

decrease would be passed on 

to potential consumers) the 

question remains as to whether 

buyers have the ability to access 

the finance required to buy a 

house. 

Presently, the mortgage market 

is still relatively underdeveloped. 

In that context, people tend to 

turn towards home improvement 

lending rather than home 

purchase, which is smaller in size 

and easier to pay back. 

5. Finally, the importance of 

efficient land registration and 

regulation for land acquisition 

and improvement (in particular in 

relation to off-site infrastructure 

and land servicing such as 

the development of trunk 

infrastructure, water & sanitation, 

etc.) was highlighted as being 

particularly central for the 

development of housing markets. 

Stemming from these considerations, 

policy recommendations include: 

• Use of alternative building 

solutions: the market needs to 

be educated to accept different 

building solutions which are more 

suitable cost-wise to reaching 

medium/lower income segments. 

For instance greater investments 

into pre-fabricated houses can 

be more cost effective, and 

drastically reduce construction 

time. 

• Local government support: 

to allow for the effective supply 

of off-site infrastructure and 

land servicing (i.e. development 

of trunk infrastructure, water 

& sanitation, etc.) needed to 

support real estate development. 

• Adequate funding system to 

facilitate mortgage provision: 

the banking system is still not in 

a position to offer the long- term 

finance that the housing sector 

needed. Beyond the provision of 

long-term mortgages, alternative 

financing schemes such as 

“lease-to-own” arrangements in 

partnership with local financial 

institutions could be deployed for 

instance. 

• Local bank capacity building: 

to strengthen mortgage 

underwriting skills and instigate 

competition in the sector. This 

should also include microfinance 

providers with tailored products 

for the housing sector, in 

particular given the role that such 

institutions can have with regards 

to home improvements loans. A 

key challenge is the banking of 

those in the informal sector. 

• Equity provision for developers: 

this will limit excessive debt 

leveraging of real estate 

developments. Private equity 

funds can be an interesting 

avenue to be pursued. 

• Technical assistance: to both 

developers and contractors to 

increase their capacity to deliver 

housing units in larger quantities 

so as to benefit from economies 

of scale. 



7 

8

9 

OVERVIEW ON KPDA ACTIVITIES 

THE KPDA CEO BREAKFAST FORUM 

TUESDAY, 25 TH AUGUST 2015 AT 

THE NAIROBI SERENA HOTEL 

THEME: ‘INFRASTRUCTURE IN PROPERTY 

DEVELOPMENT; ACHIEVING VISION 2030’ 

On Tuesday, 25th August 2015 KPDA 

held a CEO Breakfast Forum at the 

Nairobi Serena Hotel, the fourth of 

its kind to be held in 2015. The forum 

was attended by almost ninety (90) 

individuals in positions of senior 

management who are key sector 

players, including private and public 

developers, real estate managers, 

manufacturers as well as representatives 

from regulatory authorities. 

The event was opened by Eng. 

LEFT: The event was also attended by the Principal Secretary for the Ministry of Land, Housing and Urban 

Development, Arch. M. El Maawy. RIGHT: Eng. Shiribwa delivering the key note address. 

RIGHT TOP: Guests registering to attend the forum. 

RIGHT BOTTOM: The plenary session. 

THE PANEL LEFT TO RIGHT: Dr. Ben Chumo, Managing Director 

of the Kenya Power and Lighting Company Limited. Ruth 

Maina, Project Manager – Urban Energy Unit of the UN Habitat. 

Elizabeth Chege, Chairperson of the Kenya Green Building 

Society. 

Mwamzali Shiribwa, Senior Principal 

Superintending Engineer of the Ministry 

of Energy and Petroleum. Eng. Shiribwa 

was representing the Principal Secretary 

who was unavailable to come and open 

the event. 

We would like to express our 

sincerest thanks to all who 

attended this forum; the speakers, 

panelists, the guests as well as our 

lovely MC, Anne Muchiri. Together 

we had a very successful forum! 

Special Thanks to All Our Events 

Sponsors: 

• Kenya Power and Lighting 

Company 

• Bamburi Cement Ltd 

• Chloride Exide Ltd 

• Mabati Rolling Mills Ltd 

• Rexe Roofing Products Ltd 


HF Development & Investment Limited 

(HFDI) is a fully owned subsidiary and 

the real estate development arm of The 

HF Group which seeks to spearhead the 

supply of quality and affordable housing 

to urban populations in Kenya. 

HFDI has embarked on an aggressive 

strategy aimed at addressing the acute 

demand for affordable housing in 

Kenya and the wider African region. 

HFDI is looking to open up new real 

estate development frontiers, locally 

& regionally, across various customer 

segments with part emphasis on 

alternative building technology so 

as to ensure continuous delivery of 

quality, affordable environmentally 

sensitive and customer specific real 

estate. 

Formed in 1963 as Kenya Building 

Society Limited (KBSL), HFDI has 

contributed to the national housing 

grid, having constructed well 

known estates such as Buru Buru 

and Komarock Estates in Nairobi 

and Fahari Estate in Mombasa. 

ABOUT HF DEVELOPMENT 

& INVESTMENT LTD 

On 9th May 2012, HFDI made a return 

to Komarock after a 13-year hiatus 

with the ground breaking of Komarock 

Estate Phase 5A which was completed 

in 2013 comprising 162 units fully 

sold and occupied. The company then 

commenced on another project in the 

area, Komarock Phase 5B in October 

2014 with 115 units expected to be 

completed by October 2015. 

As part of its affordable housing 

strategy the company has embarked 

on the development of Komarock 

Phase 5C dubbed Komarock Heights 

consisting of 1,272 quality, spacious 

and affordable apartments offering 

first-class community amenities. The 

project, commissioned by His Excellency 

President Uhuru Kenyatta on 16th 

September 2015 is the largest untaken 

by HFDI in recent years. It sits on a 28 

acre piece of land of which 5 acres will 

be set aside for a public school. 

The project is modelled on a modern 

gated community concept where 

residents will access common facilities 

such as lifts, backup generator for 

common areas; solar heating system; 

masonry perimeter wall for the entire 

development; backup borehole water; 

an underground water tank; landscaped 

areas and a children’s play area. 

Komarock Heights residents will have 

easy access to a commercial centre; 

K-Mall, currently under construction 

that will provide for retail convenience. 

K-Mall will comprise a supermarket, 

shops, food court, banks, clinic, sanitary 

facilities, coffee house, a bar and 

restaurant, offices, a storage area and 

a playground. It will also have a total of 

215 parking spaces. 

In addition, as part of its Corporate Social 

Responsibility, HFDI has earmarked 5 

KPDA MEMBER PROFILE 

acres of the land at Komarock Heights 

for the construction of a public school in 

response to the needs of the residents of 

the area. 

STRATEGY 

HFDI has set ambitious targets for 2020. 

HFDI’s goal is to penetrate the niche 

market of affordable housing and low 

cost housing with an aim of developing 

10,000 units per annum. 

Other strategic initiatives include 

creation of land banks for future 

housing developments, site and service 

schemes, own developments and 

joint ventures with land owners. 

HFDI will create affordable 

scaled developments aimed at 

providing real estate deals for 

Kenyans. 

HFDI has successfully completed 

two joint venture projects with 

land owners: 

• Precious Garden: project 

entails development of 328 

one, two and three bedroomed 

apartments on a parcel of land 

measuring approximately 10 acres 

located approximately 350 m off 

Naivasha road. HFDI has completed 

phase one which is fully sold out 

and is currently developing the 

second phase. 

• Kahawa Downs Limited: 

project entails development of 

220 affordable mid-market two 

and three bedroomed apartments, 

on a parcel of land measuring 

5.25 acres. The project is located 

in Kahawa approximately 20 

kilometres from the City Centre and 

about 300 meters from the Thika 

Superhighway. 

10



11 

12



Cytonn Real Estate 

3rd Floor, Liaison House, 

State House Avenue, 

P. O. Box 20695 - 00200 

Nairobi, Kenya 

+254 (0)20 4400420 

www.cytonn.com 

Powering Africa. Lighting Up the World 

FUNDRAISING FOR REAL ESTATE 

DEVELOPMENT, BY CYTONN REAL ESTATE 

According to a report by Bain & 

Company, “A World Awash with Capital”, 

global capital for investments had 

grown to approximately USD 600 trillion, 

tripling, over the past two decades. In 

short there is an abundance of capital 

in the world. However, the geographic 

distribution of capital is not even, with 

most of the global capital located in the 

developed world. 

While the developed world has most 

of the global capital, they, ironically, 

also have the lowest economic growth; 

hence they have to look elsewhere 

for returns. According to the World 

Economic Outlook report by IMF, 

advanced economies such as United 

States, Eurozone, United Kingdom 

among others, are expected to have an 

average growth rate of 2.4% in 2015. 

This is in stark contrast to Sub-Saharan 

Africa (“SSA”) region where the growth 

rate is expected to be at an average of 

over 5% in 2015, despite commodity 

reliance challenges facing most of these 

countries. Consequently, for investors 

looking for attractive returns, they 

have to look into emerging and frontier 

markets such as SSA. 

If the investors in the developed world 

have to look into SSA to get attractive 

investment opportunities, why then do 

real estate developers in Kenya struggle 

to get capital? Yet real estate in Kenya 

offers between 25 to 30% annualized 

returns. It does not seem to make sense. 

With an abundance of capital in the 

west, but no returns, one would think 

that it would then be fairly easy for 

developers to raise capital, but that has 

not been the case. 

We think that if developers address the 

following areas, it will improve their 

ability to raise capital: 

1. Institutionalize development: Most 

developers are either centered on 

an individual or a family, with very 

little governance structures. Global 

institutional investors, given their 

distant locations and given the 

risks of real estate, will not back a 

developer without the requisite 

corporate governance structures. 

2. Structuring real estate into 

investment instruments that are 

focused on target returns. Most 

developers sell real estate as brick 

and mortar, rather than structuring 

the real estate into investment 

returns. Global investors are not 

interested in brick & mortar, but 

in investment returns. Developers 

should be able to convert their real 

estate in investment instruments. 

3. Coupling fundraising and 

development: given the very risky 

nature of development, investors 

tend to want the fundraising 

function working alongside the 

development function in order 

to ensure that the development 

process is very sensitive and 

responsive to return expectations. 

This explains why Centum 

Investments created Athena 

Properties. Cytonn Investments 

created Cytonn Real Estate, 

and most likely the reason why 

Britam Investments attempted a 

tie up with Acorn Properties. All 

are examples of coupling up an 

investment / fundraising platform 

and a development platform. 

4. Professionalized development, 

through efforts such as doing 

market research, documenting 

a business case supporting the 

development rationale, investing 

in sales & marketing, employing 

professional development and 

project management experts, 

and having strong investment 

committees approve development 

prior to commencement. 

To stay relevant, it is essential that 

developers either address these four 

issues to be able to raise funds, or 

partner with an institution that has 

addressed these issues. 

Cytonn’s ability to raise funds from 

global investors, with Taaleritedas of 

Finland as the anchor investor, has been 

very successfully largely because of 

addressing these four factors. 

Capital is abundant; you just have to 

know how to access it. 


Global Challenge Cup 

People's choice Winner. 

Energy Category 

13 

14

Kenya Property Developers Association 

Fatima Flats, Suite B4 

Marcus Garvey Road 

Off Argwings Kodhek, Kilimani Area 

P. O. Box 76154 – 00508 Nairobi, Kenya 

Telephone: +254 737 530290/0705 277787 

Email: admin@kpda.or.ke 

Website: www.kpda.or.ke 

PRESS RELEASE: FOR IMMEDIATE RELEASE 

• Controlled mixed - use mixed-income 

urban development 

• Ideal Location - 3KM from Northern & 

Eastern Bypass Junction and 5KM from 

Thika Highway at Exit 11 

• Spacious and Secure environment 

Industrial: Starting from $60 per sqm 

Live, Work and Play at Tatu City 

Residential: Quarter acre starting from Kshs 8M 

and half acre starting from Kshs 12.5M 

The Kenya Property Developers Association has been striving to engage with the National 

Construction Authority to create a better business environment for our members as we comply 

with the country’s laws. 

KPDA is proud to inform our members that that they can now make payments towards the NCA 

Construction Levy in instalments. We have also been granted a specific Liaison Officer to handle 

queries raised by our members. 

Kindly note that only KPDA members in good standing will get the full contacts of the NCA KPDA 

Liaison Officer. 

We continue to advocate for a revision to the levy and will keep you posted on any progress we 

make. 

For more information, kindly contact the secretariat on 0737 530 290 or 0705 277 787 to confirm 

on your membership status. 

Tel: 020 513 1000, 0708 555 555| Email: sales@tatucity.com |www.tatucity.com 

15 


Development Brings Development

KPDA PARTNERSHIP 

UPPERHILL AND THE FUTURE 

Looking to Reach your target goal 

and maximize on your sales? 

Properly planned and managed cities 

hold the key to human development 

in a safer environment. Upperhill 

plays a crucial role in the economic 

development of not only Kenya but 

East Africa. Therefore setting up of the 

Upper Hill District Association (UHDA) 

was a means to ensure that authorities 

responded by providing services that 

commensurate the developments and 

investments in Upperhill. 

The need to have associations 

especially for communities was 

recently echoed by the Nairobi 

City County (NCC) Governor 

when he met with the UHDA 

executive committee members. 

The NCC has now published a 

Community and Neighbourhood 

Associations Engagement Act of 

2015. Associations should utilize 

the opportunity of the new law to closely 

work with the County government for 

satisfactory service delivery. 

In the next 5 years, Upperhill will be 

home to some of the tallest buildings in 

the country with the UAP Tower already 

challenging developers to surpass its 

33 storey building. Achieving greater 

heights will be the theme for the area as 

we strive to be the financial hub of East 

and Central Africa. 

Now would be the best time to invest 

and move to Upperhill with the average 

asking price being KES 120 per sq. ft. 

for grade A offices. More so, we are 

pressurizing the authorities to fast track 

the completion of the roads project that 

will give Upperhill a new face. 

Kenya Urban Roads Authority (KURA) 

are coming up with new exits/entrances 

for Upperhill while National Transport 

and Safety Authority (NTSA) are working 

at means to mitigate traffic jams in 

the area. 

For more on UHDA, 

kindly contact: 

Upper Hill District Association (UHDA) 

Eagle Africa Centre, 6th Floor, 

Longonot Rd 

Tel: +254 739 584 765 

Email: upperhill@uhda.or.ke 

Website: www.uhda.or.ke 


17

INDUSTRY EXPERTS 

HOUSING PRICE INDEX 

JULY 2015 ISSUE 03 

Highlights 

1House Price Index represents a 

softening of house prices in the second 

quarter signalling stabilisation of the 

overall house price movements 

Apartment prices appear to be moving 

more than those of bungalows 2 

and maisonettes. This confirms the fact 

that the rising middle class is preferring 

apartment to bungalows and maisonettes 

as they are relatively more affordable. 

3similarly, consistent with Quarter 

1 of 2015, the demand for houses 

on offer was influenced by the location 

of the house (therefore the kind of social 

amenities available), a preference for gated 

communities (implying the importance 

of convenience and security), and the 

characteristics that will be appealing to the 

increasingly discerning households 

4there is a negative relationship in 

price movements between bungalows 

and the apartment prices across all 

the regions. This confirms the possibilities 

of redevelopment of old bungalows into 

apartments as we cited in the earlier index 

release. 

House price movements 

The second quarter of 2015 represented a 

softening of house prices as manifested 

by their increase being a marginal 0.2 

percent compared to the previous quarter’s 

2.75 percent increase (Figure 1). In essence, 

this signals the somewhat stabilisation of the 

overall house prices in line with the demandsupply 

dynamics. In particular it is a reflection of 

demand adjustment for a given level of supply 

of housing units across all market segments, 

therefore is in line with the overall economic 

conditions. 

Figure 1: Overall Price Change (%) 

3.0 

2.0 

1.0 

0 

2.18% 

Q4_2014 

2.75% 

Q1_2015 

Q2_2015 


0.20% 

The slowdown in the overall economic growth 

from 5.7 percent in 2013 to 5.3 percent in 2014, 

and consequently expectations that the projected 

resumption of robust growth may not be realised 

is filtering into demand for houses, especially in 

the low and middle income segment. Further, 

the clear signs of emerging macroeconomic 

instability as reflected in the exchange rate 

volatility and inflationary pressure have 

Moving Base Index 

106.0 

104.0 

102.0 

necessitated the tightening of monetary policy 

and therefore a shift of expectations towards a 

high interest rates regime. This has apparently 

shaped the decision making of households 

seeking to take mortgages towards home 

acquisition. Indeed the financial performance of 

key mortgage lenders reflect stable earnings for 

the first half of the year, confirming the influence 

of demand on the softening of house prices. 

The Evolution of the KBA Housing Price Index 

(KBA-HPI), whose computation is based on the 

Laspeyers Index methodology (see Technical 

Note), since the first quarter of 2013 is shown in 

Table 1 and Figure 2. 

Table 1: Price Movement Series 

Period 

Q-on-Q With Q1_13 

Index* as Fixed Base 

Q1-2013 100.00 100.00 

Q2-2013 101.42 101.42 

Q3-2013 103.25 101.46 

Q4-2014 100.66 101.63 

Q1-2014 101.86 102.13 

Q2-2014 103.45 102.29 

Q3-2014 101.87 102.44 

Q4-2015 102.18 102.71 



* Index with a moving base 

Figure 2: KBA–House Price Index 

100.0 100.0 

Q1_13 Q2_13 Q3_13 Q4_13 Q1_14 Q2_14 Q3_14 Q1_15 Q2_15 

Quarter-on-Quarter Index (Left) 

Index with Q1_2013 as Fixed Base (Right) 

104.5 

103.5 

102.5 

101.5 

Fixed Base Index 

19 

20



KBA HOUSING PRICE INDEX JULY 2015 

JULY 2015 KBA HOUSING PRICE INDEX 

Index 

Index 

Drivers of the price changes 

The determination of the qualitative and 

quantitative parameters that drive the house price 

changes is based on the estimation of a hedonic 

function. The estimates of the hedonic function for 

Quarter 2 of 2015 are given in Table 2 while for 

comparison purposes those for Quarter 1 of 2015 

are given in Table 3. 

The estimates indicates a revealed preference 

of houses as influenced by their size as can 

be inferred from the plinth area, number of 

bedrooms, whether the house has a backyard 

Sub - regional Indices 

The index with Q1_2013 as the fixed base 

indicates (Table 4) that apartment prices appear 

to be moving more than those of bungalows 

and maisonettes. This confirms the fact that the 

rising middle class is preferring apartment to 

bungalows and maisonettes as they are relatively 

more affordable among the three housing types. 

On a regional basis we however note that the 

prices for Region 2 and Region 3 are moving 

faster compared to prices in Region 1 on quarterly 

basis 1 . This on account of the fact that in Regions 

2 and 3, the crude average price is on upper level 

(beyond KES 25 Million for Region 3 and between 

10 Million to 19 Million for Region 2) which could 

be a pointer to for skewed market in favour of 

such regions driven by effective demand. 

The index based on moving base (Table 5) 

reveals a similar trend. Apartment prices seem to 

be changing faster across all the regions compared 

to maisonettes and bungalows. Comparing all 

the regions, prices for Regions 2 and 3seem to 

be in a general upward trend, confirming the 

1 See The definition of sub-regions on page 5 

and to a lesser extent whether a house has 

domestic staff quarters. This is consistent with 

what was observed in Quarter 1 of 2015. 

Similarly, consistent with Quarter 1 of 2015, the 

demand for houses on offer was influenced by 

the location of the house (therefore the kind 

of social amenities available), a preference for 

gated communities (implying the importance 

of convenience and security), and the 

characteristics that will be appealing to the 

increasingly discerning households. 

Apartment prices changed faster across 

the regions than maisonettes and 

bungalows. 

skewed market in favour of areas in Regions 

2 and 3. Further looking at both the moving 

base and the fixed base sub regional indices, 

it’s clear that there is a negative relationship 

in price movements between bungalows and 

the apartment prices across all the regions. This 

confirms the possibilities of redevelopment of old 

bungalows into apartments as we cited in the 

earlier index release. 

Technical Note 

The index follows a Laspeyers index 

method. In this method, the index 

is computed by getting the ratio the 

estimated current quarter price from the 

hedonic method multiplied the weights 

of the preceding quarter to the price of 

the preceding quarter multiplied by the 

respective weights of that quarter. 

The weights of the quantitative variables 

are obtained by getting their respective 

mean values. For the dummy variables 

however, their weights are computed as 

the proportions of the number of houses 

possessing a certain attribute to the 

total number of houses. Thus the index 

is computed by the formular: 

Where; is the shadow price from 

the estimated hedonic function for the 

current quarter; 

is the shadow prices from the 

estimated hedonic function for the 

preceding quarter; 

and are the weights of the respective 

variables for the preceding quarter. 

Table 2: 

Housing Price Index Quarter 2_2015 

Source SS df MS 

Model 778.397411 19 40.9682848 

Residual 163.459877 1529 0.106906395 

Total 941.857289 1548 0.608434941 

LN VALUE Coef Std. Err. t - stats P>|t| [95% Conf. Interval] 

LN AREA 0.2714414 0.0143168 18.96 0.000 0.2433587 0.2995241 

Bedrooms 0.1374258 0.0230495 5.96 0.000 0.0922137 0.1826378 

Bathrooms 0.0564309 0.025917 2.18 0.030 0.005594 0.1072676 

Age -0.1169339 0.0135849 -8.61 0.000 -0.1435809 -0.0902869 

Floors -0.0906218 0.0093981 -9.64 0.000 -0.1090563 -0.0721872 

Location 0.0822811 0.0034404 23.92 0.000 0.0755327 0.0890294 

Backyard -1.800684 0.1141361 -15.78 0.000 -2.024564 -1.576804 

Balcony 0.398455 0.0386545 10.31 0.000 0.3226336 0.4742763 

Dsq -0.0822993 0.0312342 -2.63 0.409 -0.1435657 -0.0210329 

Gymn 0.4789688 0.070293 6.81 0.000 0.341088 0.6168496 

Spool 0.362732 0.0549305 6.60 0.000 0.254985 0.4704791 

Socialammenities 0.1356015 0.0238121 5.69 0.000 0.0888937 0.1823092 

Garageparking 0.6958917 0.0304572 22.85 0.000 0.6361493 0.7556341 

Masterensuite 0.2534526 0.0289325 8.76 0.000 0.196701 0.3102043 

Separatedining 0.0405952 0.0588494 0.69 0.490 0.074839 0.1560293 

Gatedcommunity 0.9606869 0.067051 14.33 0.000 0.8291653 1.092209 

Borehole 0.2260852 0.0393166 5.75 0.000 0.1489652 0.3032053 

Guestrm 0.0622523 0.1664845 0.37 0.709 -0.2643099 0.3888145 

Jaccuzi 0.0464504 0.068501 0.68 0.498 -0.0879155 0.1808162 

Constant 12.96218 0.1020273 127.05 0.000 12.76205 13.16231 

Housing Price Index 

Quarter 2, 2015 

+105.01 

Number of obs = 1549 

F( 19, 1529) = 383.22 

Prob > F = 0.0000 

R-squared = 0.8264 

Adj R-squared = 0.8243 

Root MSE = 0.32697 

2 



21 

3 

22



KBA HOUSING PRICE INDEX JULY 2015 

JULY 2015 KBA HOUSING PRICE INDEX 

Index 

Index 

Table 3: 

Housing Price Index Quarter 1 _2015 

Table 4: Inter Quarter Index (Moving Base) – 2013 - 2015 

Region 1 Region 2 Region 3 

Apartments Bungalows Maisonettes Apartments Bungalows Maisonettes Apartments Bungalows Maisonettes 

SS (Model) = 474.31577 

SS (Residual) = 40.720436 

MS (Model) = 21.559808 

MS (Residual) = 0 .05128 

df (Model) = 22 

df (Residual) = 794 

Prob > F = 0.0000 

obs = 817 

R-squared = 0.9209 

Adj R-squared = 0.9187 

Q1-2013 100 100 100 100 100 100 100 100 100 

Q2-2013 100.063 100.04 100.60 100.05 100.61 100.10 100.01 100.93 100.03 

Q3-2013 99.67 100.40 99.40 102.44 100.99 100.49 98.56 105.20 102.09 

Q4-2013 100.74 102.82 99.38 101.80 100.82 98.81 103.75 103.95 100.32 

LN VALUE Coef Std. Err. t - stats P>|t| [95% Conf. Interval] 

LN Area 0.0436 0.0507 0.86 0.3910 -0.0560 0.1431 

Bedrooms 0.1247 0.0228 5.48 0.0000 0.0800 0.1694 

Bathrooms -0.2129 0.0450 -4.73 0.0000 -0.3012 -0.1245 

Type -0.0079 0.0440 -0.18 0.8580 -0.0943 0.0786 

Age -0.2982 0.1821 -1.64 0.1020 -0.6556 0.0592 

DQ_1 0.1861 0.1139 1.63 0.0000 0.7626 1.2097 

Q1-2014 100.45 99.38 99.67 101.63 100.91 100.91 97.70 102.58 102.58 

Q2-2014 100.50 99.67 99.54 100.75 101.75 101.27 96.70 102.74 103.32 

Q3-2014 99.41 100.31 100.33 100.63 101.27 99.91 98.90 102.98 100.56 

Q4-2014 97.48 99.29 105.21 97.82 101.98 99.61 104.54 104.36 100.62 

Q1-2015 95.20 101.54 100.95 98.67 102.01 100.25 104.67 104.92 100.71 


FIXED BASE INDEX (Q1-2013) – 2013 - 2015 

Location 0.0136 0.0094 1.45 0.1470 -0.0048 0.0320 

Region 1 Region 2 Region 3 

Floors 0.0935 0.0166 5.62 0.0000 0.0609 0.1261 

Back-yard -0.5335 0.1781 -3.00 0.0030 -0.8831 -0.1838 

Balcony -0.8108 0.1153 -7.03 0.0000 -1.0371 -0.5844 

Detached S quarters 0.7534 0.0726 10.38 0.0000 0.6109 0.8959 

Apartments Bungalows Maisonettes Apartments Bungalows Maisonettes Apartments Bungalows Maisonettes 

Q1-2013 100 100 100 100 100 100 100 100 100 

Q2-2013 100.06 100.04 100.60 100.05 100.61 100.11 100.01 100.93 100.03 

Q3-2013 99.02 99.67 99.67 100.09 102.44 102.44 99.65 104.13 98.10 

Q4-2013 99.86 100.74 100.74 98.88 101.53 101.80 100.32 103.45 103.45 

Gymn -0.4471 0.1603 -2.79 0.0050 -0.7619 -0.1328 

Q1-2014 99.57 100.55 100.55 99.41 101.46 101.01 100.24 102.20 100.11 

Swimming pool 0.7755 0.0976 7.94 0.0000 0.5838 0.9671 

Social ammenities 0.7637 0.0747 10.22 0.0000 0.9104 0.6170 

Garage parking 0.2289 0.1415 1.62 0.1060 -0.0488 0.5067 

Master en-suite 0.0569 0.0618 0.92 0.3580 0.0645 0.1783 

Separate dining 0.5519 0.1108 4.98 0.0000 0.3344 0.7694 

Q2-2014 99.62 100.34 97.76 100.98 102.07 101.39 100.82 102.18 101.47 

Q3-2014 99.94 100.04 97.88 100.51 101.06 104.15 99.19 102.29 99.74 

Q4-2014 99.74 100.52 98.93 100.48 100.19 102.15 100.07 104.09 99.41 



Gated Community -0.2268 0.1321 -1.72 0.0860 -0.4860 0.0324 

Guest room 0.0333 0.1675 0.20 0.8430 -0.2955 0.3620 

THE DEFINITION OF THE SUB-REGIONS 

Jaccuzi 1.5442 0.2466 6.26 0.0000 1.0601 2.0283 

Elevator 0.0358 0.0960 0.37 0.7090 -0.1525 0.2242 

Back-up generator 0.1223 0.1598 0.77 0.4440 -0.1914 0.4360 

Wooden floor 0.7613 0.2672 2.85 0.0050 0.2367 1.2858 

Constant 15.8070 0.3440 45.95 0.0000 15.1317 16.4822 

Housing Price Index 

Quarter 1, 2015 

+104.99 

© Kenya Bankers Association Centre for Research on Financial Markets and Policy® 

REGION 1 

Athi River, Mlolongo, Mavoko, Nakuru, Ngong, 

Ruaka, Syokimau, Embakasi, Kahawa Wendani. 

Thika, Mtwapa, Utange, South C, Kitengela, 

Kiembeni, Nyeri, Likoni, Eldoret, Ruiru, kilifi.Thika 

road (Kasarani, Roysambu, Ruaraka). 

REGION 2 

Thindigua (Kiambu Road), Kiambu, South B, 

Kabete, Komarock, Imara Daima, Membley, Buruburu, 

Rongai, Waiyaki Way (Uthiru, Kinoo, Kikuyu, 

Regen), Mbagathi road, Ngong Road, Langata. 

REGION 3 

Kileleshwa, kilimani, Lavington, Westlands, 

Spring Valley, Riverside, Milimani (Kisumu), 

Milimani (Nakuru), Runda, Karen, Garden Estate, 

Parklands, Ridge Ways, Muthaiga, Loresho, 

Kitsuru, Adam Arcade, Nyali, Mountainview 

5 

4 



23 

24

DIRECTORY OF KPDA MEMBERS 


LIKE 

FACEBOOK 

Kenya Property 

Developers Association 

PREMIUM MEMBERS 

MINISTRY OF LAND, HOUSING AND 

URBAN DEVELOPMENT 

(Government Agency) 

1st Ngong Avenue 

P. O. Box 30450-00100 

NAIROBI. 

Tel: 020-2718050 

Website: www.ardhi.go.ke 

HF DEVELOPMENT AND INVESTMENT LIMITED 

(Property Developer) 

Rehani House, Junction of Kenyatta Avenue and 

Koinange Street P. O. Box 30088 - 0100 GPO NAIROBI. 

Tel: 020-3262129/ 3262390 

Email: customer.service@housing.co.ke 

Website: www.housing.co.ke 

PANDA DEVELOPMENT COMPANY LTD 


Aberdare Hills Golf Resort, Naivasha 

P. O. Box 46235 - 00100 NAIROBI. 

Tel: +254 7160590 643/ 0723-030721/ 0717-705975 

Website: www.aberdarehills.com 

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MABATI ROLLING MILLS LIMITED 

(Manufacturer/Supplier) 

Mombasa Road between KAPA 

and Nation Media Group 

P. O. Box 271 - 00204 ATHI RIVER. 

Tel: 020 6427, 000 0722 205 164, 0733622068 

Email: info@mabati.com / Website: www.mabati.com 

BAMBURI CEMENT LTD 

(Building Materials Manufacturer) 

6th Floor, Kenya Re Towers, Upperhill 

P. O. Box 10921 - 00100 NAIROBI. 

Tel: 020-2892529/ 0717-581 420 

Website: www.lafarge.co.ke 

BRITAM 

(Insurance and Asset Management Firm) 

Britam Centre, Junction of Mara 

and Ragati Road, Upperhill 

P. O. Box 30375 - 00100 NAIROBI. 

Tel: 0703-094 000 / 020-2833000 

Website: www.britam.co.ke 

TWITTER 

@DevBringsDev 

TWEET 

COLLABORATIONS ENGINEERING SOLUTIONS 

& PRODUCTS (Engineering Firm) 

ABC Bank Building, Dar es Salaam Rd, Industrial Area 

P. O. Box 7607, 00100 NAIROBI. 

Tel: 0713-944 769 / 0715-281 537 

Website: www.cespkenya.com 

SAVANNAH CEMENT LIMITED 

(Building materials manufacturer) 

Athi River, Off Namanga Rod 

P. O. Box 27910 - 00100 NAIROBI. 

Tel: 020 - 5146600 / 0725999035/6 

Website: www.savannahcement.com 

FUSION CAPITAL 

(Financing and Private Equity) 

ACK Garden House, Block A, 

Ist Ngong Avenue, 

P. O. Box 47538-00100 NAIROBI. 

Tel: +254 (20) 2710149 /53 /55 

Website: www.fusioncapitalafrica.com 

Share 

MMC AFRICA 

LAW 

Comment 

(Law Firm) 

MMC Arches Spring Valley Crescent, 

off Peponi Road 

P.O. Box 75362 - 00200 

Tel: 020 2167301/0720 585785/0734 333339 

Email: info@wakili.com 

Website: www.wakili.com 

SURAYA PROPERTY GROUP LTD 


Suraya Studio, Shanzulink, Off Lower Kabete Rd. 

P. O. Box 76069-00508 NAIROBI. 

Tel: 0202664511 / 0712219106 

Website: www.suraya.co.ke 

NEWMATIC AFRICA LIMITED 

(Home Kitchen Appliances) 

1st Floor, The Park Office Suites, Parklands Rd. 

P.O. Box 528-00202 NAIROBI 

Tel: 0711112744 / 0737391011 

Website: www.newmaticafrica.com 

IMARAN REAL ESTATE LTD 


3rd floor, Imperial Court, Westlands Road 

P.O. Box 46402-00100 NAIROBI. 

Tel: 0203744593/0737151566 

Website: www.IMARANGROUP.com 

Like, Share and follow our pages on social media to get: 

Invitation to our events and forums 

Information trending in the property industry and so much more! 

CORPORATE MEMBERS 

PHATISA GROUP/PAN AFRICAN 

HOUSING FUND 

(Real estate private equity fund) 

7th Floor, Longonot Place, Kijabe Street, NAIROBI. 

Tel: 0700-152 324 / 020-2327657. 

Website: www.phatisa.com 

TILISI DEVELOPMENTS LIMITED 


4th Floor, Maksons Plaza, Parklands Road 

P. O. Box 39542 – 00623 NAIROBI. 

Tel: 0734-244 713 

Website: www.coralpropertykenya.com 

KARIBU HOMES 

(Consulting firm) 

30 Kyuna Crescent. P. O. Box 40063 - 00100 NAIROBI. 

Tel: 0722-837 800/0705-151 515 /020 4440661/2/3 

Website: www.karibuhomes.com 

(Law Firm) 

ALN House, Eldama Ravine Gardens , 

Off Eldama Ravine Road 

P. O. Box 200 - 00606 NAIROBI. 

Tel: 020 3640000 /0703-032 000 

Website: www.africalegalnetwork.com 


25 26



KINGS DEVELOPERS LTD 

(Real estate developers) 

Royal ICT Business Park, Mombasa Road 

P. O. Box 18215 - 00500 NAIROBI. 

Tel: 020-2044619/20 

Website: www.kingsdevelopers.com 

QUESTWORKS LTD 

(Design Building Firm) 

Block C, First Floor, Suite 10, 

Crawford Business Park, State House Road 

P. O. Box 18724 - 00500 NAIROBI. 

Tel: 0712-227 388 / 0724-583 351 

Website: www.questworks.co.ke 

LIMOJADE MANAGEMENT LTD 

(Property developer) 

4th Floor, Soin Arcade, Westlands Road, Westlands 

P. O. Box 5322 - 00506 NAIROBI. 

Tel: 0722-512 381 /020-2690804/5 / 0700-326 762 

Website: www.limojade-management.com 

VISHWA DEVELOPERS LTD 


DG Oasis, South C, Muhoho Road, South C 

P. O. Box 76268 - 00508 NAIROBI. 

Tel: 0722-206 971 

SUPERIOR HOMES KENYA 

(Unique lifestyle development firm) 

Greenpark Estate (past Top Tank) 

Athi River, Mombasa Road 

P. O. Box 15992 - 00100 NAIROBI. 

Tel: 020-3579100/1 / 0724-253 267 

Website: www.superiorhomes.co.ke 

MENTOR GROUP LIMITED 

(Real Estate Consultancy and 

Project Management) 

Rhapta Road, New Rehema Building, 6th Floor, Westlands 

P. O. Box 66331 – 00800 NAIROBI. 

Tel: 020-3744903/4 /2324991/ 0722-955 014 

Website: www.mentorgroup.co.ke 

PEDIMENT 

DEVELOPERS 


Century Apartments, 

Rose Avenue - Ngong Road 

P. O. Box 15509 NAIROBI. 

Tel: 0722-984 191 

MENTOR MANAGEMENT LIMITED (MML) 

(Construction, Project & Development Management Firm) 

2nd Floor, The Courtyard, 

General Mathenge Drive, Westlands 

P. O. Box 62899 - 00200 NAIROBI. 

Tel: 020-2324991/3744903/4 / 0706-579 790 

Website: www.mentor-ea.com 

OPTIVEN LIMITED (Real estate company) 

Barclays Plaza Loita Street 14th Floor Wing A 

P. O. Box 623 - 00600 NAIROBI. 

Tel: 0706-618 141 / 0716-605 410. 

Website: www.optiven.co.ke 

BAHATI RIDGE DEVELOPMENT LTD 


Off Gatanga Road, Thika. P. O. Box 47739 - 00100 NAIROBI. 

Tel: 0717-049 644 / 0737-149 644 / 020-815 5380 

Website: www.bahatiridge.co.ke 

TATU CITY LTD 

(Urban developer) 

Off Ruiru, Kiambu Rd, Ruiru 

P. O. Box 2739 - 00621 NAIROBI. 

Tel: 020-5131000 / 0708-555 555. 

Website: www.tatucity.com 

MANRIK GROUP 

(Real Estate Firm) 

Off Raphta Road 

P. O. Box 45403 - 00100 NAIROBI. 

Tel: 020-4442100/2 

DAYKIO PLANTATIONS LIMITED 

(Real Estate Firm) 

4th floor, Hughes Building, 

Banda street wing, Muindi Mbingu Street 

P. O. Box 50992-00100NAIROBI. 

Tel: +254 0718 180 064 / +254 0725 306 291 

/ +254 020 2215 472 Website: www.daykio.com 

BLUELINE PROPERTIES LTD 


Wendy Court Unit 10, David Osieli Road, Westlands 

P. O. Box 18689 - 00500 NAIROBI. 

Tel: 0722-446 055/020-4441195 

Website: www.blueline.co.ke 

NATUREVILLE HOMES 

(Real Estate Developer) 

Lenana Road, next to the 

Nigeria High Commission 

P. O. Box 47369 - 00100 NAIROBI 

Tel: 0722-888 271 

Website: www.natureville.net 

STEEL AFRICA LIMITED 

(Building Materials Manufacturer) 

Empress Office Suites, 3rd Floor, 

Ring Road Parklands 

P. O. Box 62337- 00200 NAIROBI. 

Tel: 0726-859 613 / 020-2122043/4 

KOTO HOUSING KENYA 

(Housing and building firm) 

Koto House (Formely the People Printing House), 

Mombasa Road (Mlolongo, Machakos County) 

P. O. Box 52494 - 00200 NAIROBI. 

Tel: 0789-808-991 

Website: www.kotohousingkenya.co.ke 

NANYUKI MALL LTD 

(Shopping mall) 

Kenyatta Highway, Nanyuki 

P. O. Box 42093 - 00100 NAIROBI 

Tel: 0735/720-510 000/ 

0721-486 365/020-2726870 

Website: www.nanyuki.com 

COUNTY HOME DEVELOPERS LTD 

/RUNDA VIEW LTD 


New Muthaiga Shopping Mall 2nd Floor, 

Office 9,, Thigiri Ridge Road off Peponi Road 

P. O. Box 14283 - 00800 NAIROBI. 

Tel: 0702-523 116 / 0722-670 320 

AMS PROPERTIES LTD 


Eden Square, 6th Floor, Block 1, Westlands Road 

P. O. Box 10713 - 00100 NAIROBI 

Tel: 020 3660000/ 0722-828 501/ 0733-612 241 

/ 0737-267267/ 0715-267 267 

Website: www.amsproperties.co.ke 

URBAN NIRVANA 

PROPERTY 

SOLUTIONS LTD 

(Real Estate Managers) 

Rhapta Road, Opposite Liza Apartments 

P. O. Box 44342 – 00100 NAIROBI. 

Tel: 0728-762 370 

TRIDENT ESTATES LIMITED 


Fortis Tower - 10th floor,Woodvale Grove westlands 

P. O. Box 17592 - 00500 NAIROBI 

Tel: 0737-040 992/ 0700-002 222 

Website: www.tridentestates.co.ke 

BROLL KENYA 

(Property Development) 

Fedha Plaza, Mezzanine Floor, 

Junction of Parklands and Mpaka Road, Westlands 

P. O. Box 52727 - 00100 NAIROBI 

Tel: 0712-668 448/020-374 3066/0736-922 999 

Website: www.broll.co.ke 

CORAL PROPERTY INTERNATIONAL LTD 

(Property consultants) 

Peponi Plaza, Office No: B-0, Peponi Road 

P.O. Box 38568 – 00623 NAIROBI 

Tel: 0722-513 301 

Website: www.coralpropertykenya.com 

OAK PARK PROPERTIES LTD 


Muthangari Road, House No. 46 

P. O. Box 10104 - 00100 NAIROBI. 

Tel: 0734-342 326 

Website: www.oakparkltd.com 

PARAGON ARCHITECTS (Design and architectural firm) 

1st Floor.33 Fricker Road. 

Illovo Boulevard Sandton 2196 

Johannesburg South Africa 

P. O. Box 2621 Houghton 2041SOUTH AFRICA. 

Tel: +271-14823781. 

Website: www.paragon.co.za 

SJR PROPERTIES LTD / SKY MANAGEMENT 


Off Enterprise Road, Road C 

P. O. Box 38027 - 00623 NAIROBI. 

Tel: 0722-259344 

Website: www.sjr-properties.com 

MY SPACE PROPERTIES LTD 

(Real estate developer) 

Mombasa Trade Centre (Southern Wing), 5th Floor 

P. O. Box 2405 - 80100 MOMBASA. 

Tel: 0722-442 077/0734-555 556 

Website: www.myspace.co.ke 

CYTONN INVESTMENTS LTD 

Advisory and investment firm 

3rd Floor Liaison House, State House Avenue 

P. O. Box 20695 – 00200 NAIROBI. 

Tel: 020 - 4400420 / 0714 830 744. 

Website: www.cytonn.com 

ELM RIDGE LIMITED 


Muthangari Drive/off Waiyaki Way, Westlands 

P. O. Box 14279 – 00800 NAIROBI. 

Tel: 020 4441473/0722 205 651/0733 068 500 

Email: erl@gathkenya.com 

SCION REAL ESTATE 

(Advisory and Investment Firm) 

Block A, 1st Floor, Regnum Center 

Methodist Ministries Center 

Oloitoktok Road, Valley Arcade 

P. O. Box 10075 – 00100 NAIROBI. 

Tel: 020-3862333 or 020-2329412 

Cell: 0733-271 198 

E-mail: admin@scionreal.com 

Website: www.scionreal.com 

CAMELOT CONSULTANTS/LANTANA HOMES LTD 

(Consulting Firm) 

Brookview Apartment, Elgeyo Marakwet Road 

P.O. Box 14533 – 00800 NAIROBI. 

Tel: 0721/734 - 322 322 / 020-3872161 

KZANAKA LIMITED 


Cooper Centre, Kaptagat Road off Waiyaki Way 

P. O. Box 40596 – 00100 NAIROBI. 

Tel: 0736-514 852 

Website: www.coopers.co.ke 

CHIGWELL HOLDINGS LIMITED 


Maksons Plaza, 4th Floor Parklands Rd, 

Westlands (Next to Victoria Courts) 

P. O. Box 39542 – 00623NAIROBI. 

Tel: 0733-608 053/0733-603 982 

ACORN GROUP LIMITED 

(Real estate development) 

2nd Floor, Acorn House, James Gichuru Rd, Lavington, Nairobi 

P. O. Box 13759-00100 NAIROBI. 

Tel: 020-2592671 or 020-2592672. 

Website: www.acorngroupafrica.com 

KNIGHT FRANK KENYA LIMITED 

(Commercial and Residential Property Managers) 

Lions Place, Ground Floor, Waiyaki Way 

Dropping Zone: No. 65 Revlon Plaza 

P. O. Box 39773- 00623 NAIROBI. 

Tel: 020-4239000/4440174-6 

Website: www.knightfrank.co.ke 

AXIS REAL ESTATE LIMITED 

(Property agents and valuers) 

The Rahimtulla Tower | No 8, Upper Hill Road 

P. O. Box 10730-00100 GPO NAIROBI. 

Tel: 020-2724848/0722-203 032 

Website: www.axisre.co.ke 

NDATANI 

ENTERPRISES 

COMPANY LIMITED 


10th Floor, Afya Centre, Tom Mboya Street 

P. O. Box 9422 – 00300 NAIROBI. 

Tel: 0722 515121/0726713487 

/ 0716653011/0716653013 

Website: www.ndatani.com 

CORAL PROPERTY CONSULTANTS LTD 

(Property Developers) 

1st Floor, Rockwall Bldg Silos Rd-Nyali Rd 

Junction Mkomani Nyali P.O Box 81300 - 80100 MOMBASA. 

Tel: 254414470860 / 254414470861 /0721883505 

Website: www.coralpropertykenya.com / 

www.xanadukenya.com 

JABEZ PROPERTIES 


Namanga Road Estate, Off Namanga Road, 

Near Export Processing Zone (EPZ) 

P.O. Box 23059 – 00604 NAIROBI. 

Tel: 0722788578 / 0738788578 

Website: www.jabezproperties.co.ke 



27 

28


FEDHA (MANAGEMENT) LTD 

(Property Management) 

17th Floor Eco Bank Towers 

Muindi Mbingu Street 

P. O. Box 45625 - 00100 NAIROBI. 

Tel: 0735-922999/020 222 2442/222 3776 

Website: www.fedhagroup.co.ke 

SICHANGI PARTNERS 

(Law Firm) 

Hill Plaza, 10th floor Community 

P. O. Box 33223-00600 NAIROBI. 

Tel: 020-4440062/020 2733646 /49/ 50; 

0202332543; 0712328896 

Website: www.sichangi.com 

MWANZONI LTD 

(Real Estate & Construction Project/ 

Programme management firm) 

84 Riverside Drive, Westlands 

P. O. Box 14611 - 00800 NAIROBI. 

Tel: 0775396313 / 0205226828 /0725872006 

Website: www.mwanzoni.com 

ASPENN GLOBAL MOBILITY 

CONSULTANTS - KENYA 

(Real Estate Consultant) 

Ridor Plaza off Magadi Road 

P. O. Box 1928 - 00502 NAIROBI. 

Tel: 020 2177522 / 0706578646 / 0733775583 

Website: www.aspennglobal.com 

JAMBO 

HOLDINGS 

LIMITED 


Jambo Holdings Ltd premises Opp 

St Mary’’s School, Rhapta Rd 

P. O. Box 30292-00100 NAIROBI. 

Tel: +254-722577129 

LORDSHIP AFRICA (Property Developer) 

Bishop´s Gardens Court, 4th Ngong 

Avenue, Community Area 

P. O. Box 47655 – 00100 NAIROBI. 

Tel: 020 2726473/ 0717444345 

Website: www.lordshipafrica.com 

HOME AFRIKA LIMITED 


Morningside Park, Ngong Road, near Adams Arcade 

P. O. Box 6254 - 00100 NAIROBI. 

Tel: 0714-766015 / 722517611 

/ +2540202772000 

Website: www.homeafrika.com 

MARLBOROUGH 

PROPERTIES 

LIMITED 


Occidental Building 1st Floor One Touch, 

Door 2A 2A (past Soin Arcade) 

P. O. Box 71854 - 00100 NAIROBI. 

Tel: 0721160900; +44 7801865666 

FALCON DEVELOPMENT LIMITED 


Blue Violets Plaza, 5th Floor, Suite 505 

Kindaruma Road, Kilimani Area 

P. O. Box 1219 – 00100 NAIROBI. 

Tel: 020 5286036/0719 762 060 

Email: enquiry@falcondev.co.ke 

Website: www.falcondev.co.ke 

KARUME 

HOLDINGS 

LIMITED 


3rd Floor, Cianda House, Koinange Street 

P. O. Box 30594 - 00100 NAIROBI. 

Tel: 0772099340 

LASER PROPERTY SERVICES LIMITED 


2nd Floor, CPF House, Haile Selassie Avenue 

P. O. Box 28938 - 00200 NAIROBI. 

Tel: 02046901 - 5 

Website: www.laser.or.ke 

UNITY HOMES LIMITED 


Shanzu Gardens 

PO Box 933-00621 NAIROBI. 

Tel: +254 707 662 250 

Website: www.unityhomes.co.ke 

HASS CONSULT LIMITED 


First Floor ABC place Waiyaki Way 

P. O. Box 14090- 00800 NAIROBI. 

Tel: 0722 204765 / 0733629786 

+254 204446914 

Website: www.hassconsult.co.ke 

CENTURY CITY PROPERTY LIMITED 


3rd Floor VM Tower, The village Market, Limuru Rd 

P. O. Box 19 - 00621 NAIROBI. 

Tel: 020 -7122017 / 0701 066 144 

Website: www.centurycitykenya.com 

MURIMI & CO. 

ADVOCATES 

(Law Firm) 

2nd Floor, Electricity House 

Harambee Avenue 

P. O. Box 54052 - 00200 NAIROBI. 

Tel: 020 – 2227701 

EDIFICE LIMITED 


6th Floor, Fortis Towers, Woodvale Groove,Westlands 

P. O. Box 12645-00400 NAIROBI. 

Tel: 0737 676767/ 254203741218 /0722-706114 

Website: www.edifice.co.ke 

IJENGA VENTURES LTD 

(Real Rstate Developer) 

Kwifra Estates No.B4 Roses Brookside Drive 

P. O. Box 2384-00606 NAIROBI. 

Tel: 0708909879 

Website: www.ijenga.com 

SPARTAN DEVELOPERS LIMITED 


2nd Floor, Jumuia Place, Lenana Rd 

P. O. Box 53927-00200 NAIROBI. 

Tel: +254 0722491978 

Website: www.spartandevelopers.com 

MURIU MUNGAI 

& COMPANY 

ADVOCATES 

(Law firm) 

MMC Arches Spring Valley Crescent, off Peponi Road 

P.O. Box75362-00200 NAIROBI. 

Tel: 0202167301/0720585785/0734333339 

Email: info@wakili.com 

Website: www.wakili.com 

MUGUMO DEVELOPMENTS LIMITED 


Office Suites, 1st Floor 

Parklands Road 

P. O. Box 45922 – 00100 NAIROBI. 

Tel: 0707 488 907 

Email: png@nebange.com 

MEREKA & 

COMPANY 

ADVOCATES 

(Law firm) 

Ukulima Co-op House, 7th Floor 


Tel: 2228315/6/7 / 0721393752 

Email: merekawakili@gmail.com 

3861067 /0720535674/0724256200 

PDM (KENYA) LTD 


12th Floor, IPS Building Kimathi Street 

P. O. Box 58470 - 00200 NAIROBI. 

Tel: 020-316122/2226311 

Website: www.pdmholdings.com 

ROZANA 

PROPERTIES 

LIMITED 


Ndemi Road, Kilimani 

P.O Box 3291 - 00100 NAIROBI 

Tel: 3861067 /0720535674/0724256200 

Website: www.rozanaproperties.co.ke 

DUNHILL CONSULTING LTD 


Hevea Court, Eldama Ravine Road, Westlands 

P. O. Box 1400 - 00606 NAIROBI. 

Tel: 0720911136/0786386445/0732043845 

Website: www.dunhillconsulting.com 

BUY RENT KENYA LIMITED 

(Property Portal) 

14 Riverside Drive, 5th Floor, Grosvenor Blg 

P.O BOX 580777-00200 NAIROBI 

Tel: 0202307051 

Website: www.buyrentkenya.com 

ASSOCIATE MEMBERS 

RATEMO & COMPANY ADVOCATES 

(Law Firm) 

Suraj Plaza, 3rd Floor, Limuru Road, 

Next to Nairobi Transit Hotel 

P. O. Box 25858-00100 NAIROBI. 

Tel: 0202172321 / 0722979081 / 0736708999 

Website: www.ratemo.co.ke 

STRAUSS ENERGY LIMITED 

(Manufacturing/Suppliers of BIPV roofing tiles) 

Climate Innovation Centre, 

3rd Floor Strathmore Business School 


Tel: 02044009938/0733448438 

Website: www.straussenergy.com 

MOHAMMED MUIGAI ADVOCATES 

(Law Firm) 

K-Rep Centre, 4th Floor, Wood Avenue, Kilimani 

P. O. Box 61323 - 00200 NAIROBI. 

Tel: 020 2397401/2/3 / 0722851018 

Website: www.mohammedmuigai.com 

ARM CEMENT LIMITED 

(Building materials manufacturer) 

Rhino House, Chiromo Road 

P. O. Box 41908 - 00100 NAIROBI. 

Tel: 0735701204 / 020 269 2978 / 0733636456 

Website: www.armcement.com 

MEHTA ELECTRICALS LIMITED 

(Electrical Contractors) 

The Cresent 1, Off Parklands Road 

P. O. Box 39977 - 00623 NAIROBI. 

Tel: 020 3750519/20 / 0720605040 

/ 0722848486 / 0733620144 

Website: www.mehta.co.ke 

REMINDER 

Under the KPDA Code of Conduct, every developer must: 

1. Be legally registered, used registered accounts and have a fixed 

address 

2. Observe the law, including the Building Code at all times 

3. Be fair and honest when dealing with home buyers 

4. Not conceal any important fact that he or she knows about property 

5. Engage only registered, insured and experienced professionals 

6. Warrant a safe and structurally sound home as provided by law 

7. Refrain from fraudulent and corrupt practices 

8. Protect the environment as provided by law 

9. Continuously educate him or herself on the latest technologies and 

practices 

10. Practice only fair competition with other developers 

11. Alert the Association to unethical conduct by other developers 

To read the KPDA Code of Ethics, kindly visit our website www.kpda.or.ke 

We would like to notify all our members that we are 

currently issuing annual membership certificates. 

Kindly contact the secretariat to collect your copy. 

Thank you. 



29 

30

A WORD FROM UN HABITAT 


UN-HABITAT GREEN BUILDING CHARTER 

GREEN BUILDING TECHNOLOGY AND ROOFING SOLUTIONS 

ECO-BUILDING: THE LOW HANGING FRUIT OF 

SUSTAINABLE DEVELOPMENT AND CLIMATE 

CHANGE MITIGATION 

Human beings spend more time in 

buildings than in any other place. 

Buildings account for more than 50% 

of electricity use, which is higher than 

any other sector. Rapid urbanization is 

associated with the increasing housing 

demand, resulting in an increased 

demand for electricity, gas, charcoal 

and oil. 

UN-Habitat and UNEP headquarters at 

Gigiri, Nairobi: an Energy Plus Building. 

Unfortunately, energy demand in East 

Africa exceeds the supply several fold. 

New buildings in sub-Saharan Africa 

consume much more energy than 

necessary due to their poor design that 

is not integrated in the local climatic 

context. Glazed walls which are a symbol 

of modern architecture, consume more 

energy, which is needed to cool down 

the indoor space from the greenhouse 

effect created by the transparent glass. 

A poorly designed building associated 

with the wrong use of building material 

also consumes more energy than 

necessary. It is cheaper to save one 

kilowatt-hour of energy through energy 

efficiency practices than to generate the 

equivalent one kilowatt-hour of energy. 

Energy efficiency and conservation 

measures in buildings are the cheapest 

solutions to address both the energy 

crisis and climate change. 

UN-Habitat and UNEP headquarters at Gigiri, Nairobi: an Energy Plus Building. 

What is Green Building? 

A green building known also as Ecobuilding 

or sustainable building, is 

a shelter that protects its occupant 

from the adverse condition of the 

environment while making use of 

passive elements to ensure visual 

and thermal comfort and minimizing 

carbon emission. Green building 

design, construction, operation 

and maintenance, assumes the 

healthiest possible environment while 

representing the most efficient and 

least disruptive use of resources like 

land, water, energy and material. 

Green building strategies maximize 

both economic and environmental 

performance. Green construction 

elements/solutions such as proper 

orientation, natural ventilation and 

lighting, solar protection, use of locally 

available material, rain water harvesting 

etc. can be integrated into buildings 

design. 

What is Greenwash? 

There are a lot of Greenwash in the 

building sector. Just painting a building 

with a green color does not transform 

the building into a truly ecological 

product. Greenwash uses cosmetic 

approaches and does not have green 

standards that are driven by real 

environmental and social progress but 

by purely profit interest. 

What is a Zero Energy Building? 

This is a building that consumes 

the same amount of energy that it 

generates through renewable energy 

technologies mainly solar energy. The 

carbon footprint of these buildings is 

zero. They are also called “zero carbon” 

buildings.. There are also called selfsufficient 

buildings. 

What is an Energy Plus Building? 

This building produces more energy 

than it consumes. This is the example of 

the new offices of the United Nation at 

Nairobi. The roof of the building are all 

fitted with solar PV. 

What is the real cost of a green 

building? 

Very often, a green building or ecobuilding 

is considered more expensive 

than a business as usual building. 

The truth is that the additional cost 

can vary from zero to 30%. A proper 

orientation of the building does not 

require additional cost; Proper sizing of 

the windows to allow the penetration 

of more light while protecting against 

direct solar radiation may not require 

additional cost. 

The use of locally available building 

material may also reduce the cost of 

the building. In general, the additional 

cost is that of renewable energy 

technologies, such as solar water 

heaters, solar-PV and energy saving 

appliances. The other reason why an 

eco-building incurs additional cost is 

because there are very few specialized 

architects. It is worth mentioning that 

the operation cost of a green building 

is very low. The environmental benefits 

are enormous as their carbon footprint 

is small. 

When designing a green building, 

emphasis must be placed on indoor 

environmental quality. It is important 

to ensure that the building is properly 

ventilated, has adequate natural 

lighting and properly protected from 

solar radiation and noise pollution. 

Eco-building increases occupant 

productivity as it provides better 

comfort and healthy in-door condition. 

By applying sustainable building 

strategies during the planning and 

design processes, the following benefits 

are felt immediately: 

• Energy consumption in new 

buildings ≥educe by up to 70%; 

• Energy savings in existing 

buildings ≥educe by up to 30%; 

• Improve thermal and visual 

comfort; 

• Promote resource - water, land, 

material- efficiency; 

• Reduce wastages; Lower operating 

costs; 

• Improved productivity of building 

occupants; 

• Improved health of building 

occupants. 

Adopting eco-building design not 

only save energy, money and the 

environment but also promote green 

economy and mitigate climate change. 

A Proposed Charter for Sustainable 

Building Design in Tropical Countries 

Here are 20 important points to consider 

when designing and implementing a 

green building: 

1. Site selection: Retrofit existing poor 

buildings and give preference to 

brownfield sites over undeveloped 

green fields. 

2. Building footprint: Conform to the 

permitted ground cover age and should 

ideally cove≥ not more than 60%. 

3. Building orientation: Design the long 

axis of the building to be along East- 

West to minimize direct solar radiation 

penetration in the building and reduce 

heat gain. 

4. Building form/shape: Design 

according to climatic zone. For hot 

and humid region, use narrow plan to 

maximize natural light, cross-ventilation 

and minimize heat gain. For hot and arid 

regions, use courtyard and compact 

forms to retain cold air in the building 

and minimize heat gain. 

5. Allocation of spaces within the 

building: Services e.g. toilets, staircases, 

lifts, lobbies, kitchens etc. to be located 



31 

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Proudly Sponsored By: 

on the East and West facing walls to act 

as buffer zones against heat gain but 

benefiting from daylighting. 

6. Openings: Window sizing to be 

designed according to prevailing climatic 

conditions, and placement preferably on 

North and South walls; windows to wall 

ratio should not exceed 40%. Gazing 

walls to be avoided, unless using special 

treated glass. 

7. Daylighting: design buildings according 

to climatic region, with openings on 

North and South walls, narrow plans to 

maximize daylighting, use clerestories & 

light shelves in deep spaces; staircases, 

toilets, & kitchens to be day-lit. 

8. Solar protection: use sun shading 

devices e.g. roof over- hangs, vertical & 

horizontal shading elements, balconies, 

screens, & vegetation (green walls) to 

minimize heat gain. 

9. Natural ventilation: Ensue that both 

cross-and vertical ventilation are provided 

by the openings. Make use of roof vents 

and openings, thermal chimneys and 

clerestory windows. 

10. Cooling: Integrate passive cooling 

systems by designing water bodies and 

features for evaporative cooling in hot 

and arid regions. Ensure that buildings 

using air conditioning appliances are well 

insulated to limit heat gain and reduce 

energy demand. 

11. Heating: Suitable for highland regions 

where passive heat gains through direct 

solar radiations are welcome in the 

building during the cold seasons. Design 

passive solar heating strategies to ensure 

maximum sun penetration during cold 

seasons. 

12. Building envelope and materials: 

Always consider the carbon footprint 

content while choosing building 

materials. Give preferences to locally 

available building material that are more 

appropriate with low energy content. 

Consider recyclable and re-usable 

materials with low toxic emissions. 

13. External finishes: Make use of lightcolored 

materials on external facades and 

roofs to reflect excessed solar radiation, 

while also incorporating green and living 

walls, vertical gardens provided with 

vegetation that grows on the facades. 

14. Renewable energy: Integrate solar 

energy (thermal and electricity) such as 

photovoltaic and solar water heaters; 

wind energy, biogas and other available 

renewable energy systems into the 

building design. 

15. Water conservation and efficiency: 

Design rainwater harvesting systems. 

Recycle grey water, and use water efficient 

appliances and water-saving fixtures. 

16. Storm-water management: Provide 

appropriate drainage technique to 

mitigate storm water run-off and facilitate 

replenishment of water table through 

rainwater infiltration. 

17. Sanitation: In the absence of 

municipal sewage system, design on-site 

waste water treatment with production of 

biogas, compost and re-used of water for 

irrigation. 

18. Waste management: Design 

provisions for waste separation and onsite 

sorting and systems that encourage 

the 3R actions: Reduce, Recycle and 

Reuse. 

19. Landscaping: Design soft landscaping 

(greening site) with indigenous plants 

that require minimal irrigation and hard 

landscaping with paving materials that 

allow rainwater permeability. 

20. Energy-efficient appliances and Energy 

demand management: Incorporate 

energy saving appliances in the building 

design. Make use of energy-saving bulbs, 

light level sensors, occupancy & motion 

sensors. Encourage behavior change. 

Ensure that energy demand management 

principles are given top priorities by the 

building occupants. 

This article was prepared by KPDA’s partner - UN-Habitat’s 

Urban Energy Unit - under the programme “Promoting 

Energy Efficiency in Buildings in East Africa.” The programme 

aims at mainstreaming energy efficiency (EE) measures into 

housing policies, building codes, and building practices in 

East Africa and to achieve considerable avoidance of GHG 

emissions as a result of improved building practices. 

UN-Habitat is also offering free technical advice on 

upcoming projects and designs to ensure that they are 

sustainable and affordable. 

For further information on other climatic zones, go to 

http://www.eebea.org/ For further information on the 

technical advice, contact ruth.maina@unhabitat.org 

Promoting Energy Efficiency 

in Buildings in East Africa 

UN-Habitat in collaboration with UNEP, the 

Global Environment Facility (GEF) and the 

Governments of Kenya, Tanzania, Uganda, 

Rwanda and Burundi are implementing a 

programme on promoting energy efficiency in 

buildings in East Africa. The aim is to mainstream 

energy efficiency measures into housing 

policies, building codes, housing finance and 

building practices in East Africa and to achieve 

considerable avoidance of greenhouse gas 

emissions as a result of improved building 

practices. 

The project is developed around five 

components namely: 

1 - Establishment of energy efficiency data and 

benchmarks in the building sector; 

2 - Integration of energy and resource efficiency 

measure into building codes and regulations; 

3 - Awareness raising and capacity building 

in energy efficiency and best practices in the 

building sector; 

4 - Facilitation of the establishment of 

appropriate financial mechanism for the 

implementation of energy efficiency measures 

in buildings; 

5 - Provision of technical advice on green 

building criteria is ongoing to mass housing 

project and real estate and property developers. 

To date several tools and awareness materials 

have been developed and are available at 

the project website: www.eebea.org. A 

comprehensive handbook on “Sustainable 

Building Design for Tropical Countries” with 

practical examples on eco-building design, best 

practices and instruments for evaluating and 

design sustainable building in East Africa has 

been published and can be downloaded for free 

at: http://unhabitat. org/books/sustainablebuilding-design- 

for-tropical-climates/ 

For more information about the program please 

visit: www.unhabitat.org or contact 

Dr. Vincent Kitio 

Chief, Urban Energy Unit, UN-Habitat 

Vincent.kitio@unhabitat.org 

souleymane.diawara@unhabitat.org 

Invitation to the End of Year KPDA 

Corporate Networking KOROGA Event, Friday 20 th November 

2015 

An interactive, informal session allowing for members, 

partners and friends of KPDA to network and socialise! 

Where: GOAN GYMKHANA CLUB (Located along Ngara Road – off 

Kipande Road, Parklands, Nairobi) 

When: Friday, 20 th November 2015 

Time: 

6.00pm onwards 

TICKETS FOR THE KOROGA 

Members Kshs. 1, 500 

Non Members Kshs. 2, 500 

Kindly RSVP with payment by latest Friday, 13 th November 2015. Contact 

the secretariat on 0737 530 290 or 0705 277787 to make your 

reservation. 

Proudly Sponsored By: 



33 

34

EVENTS CALENDAR 

DATE LOCATION EVENTS 

10 TH YEAR ANNIVERSARY 

2016 

WEDNESDAY, 17 TH 

FEBRUARY 2016 Nairobi Serena Hotel NEMA CEO Breakfast Forum (7.00am – 9.30am) 

FRIDAY, 26 TH 

FEBRUARY 2016 

Nairobi 

Release of KPDA E-Newsletter 

January – February 2016: Issue 01,2016 

WEDNESDAY, 16 TH 

MARCH 2015 

Nairobi 

KPDA Members Welcoming 

Cocktail (6.00pm to 9.00pm) 

FRIDAY, 1 ST 

APRIL 2016 

Goan Gymkhana Nairobi 

KPDA Annual General Meeting 

(5.00pm – 6.30pm) 

KPDA Koroga (6.30pm onwards) 

FRIDAY, 1 ST 

APRIL 2016 

Nairobi 


March – April 2016: Issue 02, 2015 

FRIDAY, 29 TH 

APRIL 2016 

Nairobi 

Serena Hotel 

KPLC Lunch and Learn Members’ Only 

Meeting (12.00noon – 2.30pm) 

TUESDAY, 11 TH 

MAY 2016 

Nairobi 

Serena Hotel 

CEO Breakfast Forum 

(7.00am – 9.30am) 


JUNE 2016 

Nairobi 


May – June 2016: Issue 03,2015 

THURSDAY, 30 TH 

JUNE 2016 

Nairobi Serena Hotel 

Proposed KPDA Affordable Housing 

Seminar and Site Visit (8.00am – 4.00pm) 


JULY 2016 


Leads and Needs Meeting 

(12.00noon – 2.30pm) 

TUESDAY, 23 RD 

AUGUST 2016 



July - August 2016: Issue 04, 2016 

FRIDAY, 9 TH 

SEPTEMBER 2016 

Goan Gymkhana Club, 

Parklands 

KPDA Corporate Networking 

Koroga Event (6.30pm onwards) 


SEPTEMBER 2016 

Nairobi Serena 

Hotel 

Leads and Needs 

Members Meeting 

FRIDAY, 28 TH 

OCTOBER 2016 

Nairobi 

KPDA Property Awards 

(6.00pm – 10.30pm 

FRIDAY, 28 TH 

OCTOBER 2016 

Nairobi 


September - October 2016: Issue 04, 2016 

EVENTS 

FRIDAY, 25 TH 

NOVEMBER 2016 

FRIDAY, 2 ND 

DECEMBER 2016 

Goan Gymkhana Club, 

Parklands 

Nairobi 

End of Year KPDA Corporate 

Networking Koroga Event 

(6.30pm onwards) 


November - December 2016 

Issue 06, 2016 



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e-newsletter supported and published 

by the Kenya Property Developers 

Association and designed by Insync 

MEDIA Limited. It targets the various 

players in the property industry in 

Kenya and highlights a wide spectre 

of issues affecting our members, other 

professionals, manufacturers and both 

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industry. We seek to encourage positive 

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The Developer’s Digest is filled with 

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all, the distance between you and your 

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This includes our website, e-newsletter, 

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The Developer's Digest, September - October 2015 Issue

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