Property Expo to focus on county investments

Property investors want the government to come up with policies to release idle land and make way for the development in counties. They say government incentives will devolve responsibility of housing to counties and further spur county investments in real estate.

“Many developers are confident that the government will come up with policies that will unlock the full potential of the real estate sector in the counties,” says Mr Abdi Juma, the organiser of this year’s Property and Home Living Expo. The event is set for September 4 to 7.

Developers from all the 47 counties plan to table burning issues during the exhibition, which will be held at Sarit Centre in Nairobi.

Some of the main issues are about government policies on land and a code of conduct for stable construction in counties.

The Property and Home Living Expo is strategic. It comes at a time when the Ministry of Planning and Devolution has reported a 4.8 per cent increase in developments in 2012, up from 4.3 per cent in 2011.

“The exhibition will showcase vibrant real estate opportunities in the 47 counties by leading developers. It aims at tapping into the emergent spending power of the middle economic group keen on avoiding steep prices of similar property in the capital (city),” Juma explains.

It will further showcase property investment choices in commercial, residential and holiday homes from Kisumu, Eldoret, Mombasa, Nakuru, Kajiado, Kiambu, Voi and Malindi counties.

“The English Point Marina at Fort Jesus and Acacia Holiday Homes in the Tsavo, are two of the unique properties in East Africa, to be showcased,” said Mr Ben Woodhams, the managing director of Knight Frank, a real estate consultancy.

Other county properties at the exhibition include Migaa’s Mitini Scapes located in Kiambu, Llango in Malindi, Kikwetu development by Home Afrika based in Athi River, Longonot City, the Sh5 billion Mount Kenya Homes Holiday Homes, Nanyuki Mall  in Nanyuki, and Kisumu’s Sh1.6 billion Translakes Estate.

Mr Daniel Ojijo, the Homes Universal Chairman and co-founder of the Kenya Homes Expo, says that government’s efforts to ensure each Kenyan owns a home should be accompanied by raising awareness.

“There are alternative building technologies, such as prefabricated houses, which are cost-effective, yet they are not appreciated by the masses,” he says.

Developers also see success in partnerships between government and international organisations such as Habitat for Humanity, to help reduce taxation in construction.