Friday, May 31, 2013
Annual Exhibition set to spur County Living and Investment
The 11th edition of the Property and Home Living Expo (P&HLE), a leading upcoming property exhibition slated for June 20-23rd has set its eyes on aiding investment to new and affordable peri-urban areas in the wake of the new county dispensation.
In a timely move showcasing the vibrant real estate opportunities in the 47 counties by leading developers, the three-day P&HLE aims to tap into the emergent spending power of the middle economic class keen on avoiding steep prices of similar property in the capital.
Jawad Jaffer, Expo Organizer, in an exhibition stakeholder briefing said while helping actualize the national Vision 2030’s social pillar to develop satellite towns while decongesting the cities, P&HLE is banking on the expected diversification of county housing development and the focus shift of the middle class from the Nairobi property investment.
“We know the county real estate market is bound to grow with a housing gap set to be met with expected opportunities and investments, therefore this property exhibition aims to give a rare preview of all desirable property investment opportunities at the county level,” said Jaffer.
And added: “While it is in government’s plans to decongest our major urban centres as part of the answer to the prosperity Kenya seeks in Vision 2030, both property developers and potential homebuyers least prefer urban investments due to their high costs and other factors”, said Jaffer.
The exhibition comes at a time when the Ministry of Planning and Devolution reported a 4.8 percent increase in 2012 up from 4.3 percent in 2011 with total value of new private and public buildings completed going up by 9.6 per cent from KSh 46.4 billion in 2011 to KSh 50.8 billion in 2012.
Opening up of the peri-urban investments has seen both holiday and residential multibillion investments in Kisumu, Eldoret, Mombasa, Nakuru, Kajiado, Kiambu and Mr. Jaffer says that P&HLE will seek to educate property investors and homebuyers on the counties most desirable investment opportunities, with the counties now expected to be on the forefront of the country’s economic growth.
The 11th P&HLE has already signed the most sought after properties in the country including English Point Marina at Fort Jesus, Acacia Holiday Homes in Voi, Migaa in Kiambu and Longonot City in Naivasha.
Knight Frank Kenya Managing Director, Ben Woodhams, agents of English Point Marina and Acacia Holiday Apartments said the 11th Property & Homes Expo is a perfect platform for its niche market considering its location.
The free-to-attend exhibition Expo will also feature industry experts that will hold key talks on both Residential and Commercial property investments trends in the country.
The real estate industry is now at per with other sectors like the capital markets, tourism and even agriculture with economic growth, rapid urbanization, population growth, expansion of the middle class and a well-developed financial industry touted as the main drivers of Kenya’s property market.