Kenya Real Estate

Two months ago, the Kenyan government announced an official curfew starting 27th March 2020 in response to the COVID-19 pandemic. The impact of the virus has touched almost every sector of the economy including real estate. Tilisi, like many companies all over the world, finds itself in a unique situation having to quickly adapt and learn to navigate uncharted territory.

On Tuesday, 25th of February Tilisi hosted a panel discussion on Understanding the Advantages of Developing in a Master Planned Project in conjunction with the Kenya Property Developers Association (KPDA). Tilisi is a 400-acre mixed-use urban development, distinctly zoned into residential, commercial and logistics precincts. Set just 30 km from Nairobi’s CBD, at the intersection of Limuru Road and Waiyaki Way.

The real estate market is poised for an uptick in activity, according to East African Property Investment (EAPI) Summit analysts, following the recent moves to reopen financial flows into the sector by uncapping interest rates. The change follows a decline in financing that saw the sector’s contribution to the country’s GDP halve from 8.8 per cent in 2016 to 4.1 per cent by 2018.

Tilisi Developments PLC has awarded a $7.3m contract to IOTA Engineering and Construction Ltd to construct its Phase 2 road works and supporting infrastructure. IOTA were eventual winners of a competitive tendering process, after having previously impressed Tilisi with a smaller infrastructure project at the Logistics Park, which they delivered in November 2019.