Kenya is making a renewed push to increase investments in its property market as the cost of real estate transactions remains too high in East Africa compared to other regions.
Although availability of sources of funding in the region is also limited, industry experts have revealed that there has been an increase in real estate participation among leading public and private sector institutions and bodies since 2018. This has proven that confidence in the sector is slowly returning.
Real estate sector players have noted that more investors are focusing on having outcome-based investments and discussions that also generate transactions and partnerships. In fact, the East African market is re-calibrating itself as a result of macroeconomic pressures and oversupply to now offer product tailoring developments with attractive pricing.
As such, Kenya plans to use the 6th Annual Property Investment Summit to drive deal making in its real estate sector.
Set to be held in 2019, the 6th annual East Africa Property Investment (EAPI) Summit will facilitate a new of era of investment and development driven by market affordability said its host, Kfir Rusin.
Hosted at the Radisson Blu Hotel in Nairobi on the 10th and 11th of April, 2019, the EAPI Summit will provide a transaction focused and knowledge sharing environment for 500 senior delegates from more than 20 countries as they unpack the theme: Driving Affordability and Opportunity through the Property Value Chain.
“The reality is that the cost of real estate transactions remains too high in East Africa and this is inhibiting the growth of the sector. To restore real estate as a significant driver of sustainable growth, we have to reduce the input costs of building and deepen the available sources of funding; especially as we build the foundation for more affordable housing in Kenya and East Africa,” Rusin said.
The EAPI Summit will focus on achieving six key objectives which relate to the summit’s affordability and investment agenda and thematic focus areas. These include: design and construction; land and urban planning; finance and capital; regulatory framework and infrastructure.
“EAPI is a networking and business transaction platform, which attracts stakeholders from deep pools of capital and policy, who can interact with public sector policymakers and regulatory bodies. East Africa and Kenya has high growth potential and offers an attractive environment to do business, and we will see many new transactions announced, networking and deal making taking place next year across all sectors,” Rusin elaborated.
The emphasis on bringing the public and private sector together is a key focus for the EAPI Summit and is one of the key differentials of the summit.
“The private sector is key to growth, but at this juncture, it’s critical that the public sector, industry bodies and the development finance institutions come together and drive transactions in the market and make the sector more attractive to local and international money,” stated Rusin.