Real Estate News

Middle East, Africa Hotels Post Mixed Results in April

Middle East, Africa Hotels Post Mixed Results in April

According to STR, hotels in the Middle East reported negative April 2018 performance results, while hotels in Africa posted growth across the three key performance metrics. Read More »

 Cities of the Future Adopt to Change and Leverage Innovation, Says JLL Index

Cities of the Future Adopt to Change and Leverage Innovation, Says JLL Index

Innovation, liveability and the capacity to reinvent characterize the most dynamic cities in their third annual City Momentum Index (CMI). Read More »

Global Real Estate Capital Beginning to Discover Sub-Saharan Africa

Global Real Estate Capital Beginning to Discover Sub-Saharan Africa

Unprecedented liquidity fueling global investors to seek out new markets and it is beginning to find its home in real estate markets in Sub-Saharan Africa. Read More »

My Top 10 Summer Getaways Around the World!

My Top 10 Summer Getaways Around the World!

With the official start of summer this Memorial Day weekend, are you looking for an out-of-the-ordinary summer escape, away from the crowds? Well...there are some great ones! Read More »

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Global Property Spotlight

Golfito Marina Village & Resort - (Costa Rica)

Golfito Marina Village & Resort - (Costa Rica)

Costa Rica's Newest Luxury Superyacht Destination Now Under Construction Read More »

Last Updated May 29, 2018 8:01 AM ET

Kenya Property News

Prices for prime residential property in the world's leading city markets rose by only 0.2%.

Luxury residential property prices across the globe rose by 6.2% on average in the year to June 2014.

Where transparency broadens, real estate capital flows and market change follows.

The Europe-based luxury hotel group, is planning to expand its portfolio of luxury hotels in Africa.

Home Afrika Ltd. became the first publically-traded developer this week, listing 405.3 million shares on the Nairobi Stock Exchange. Home Afrika plans to build one million homes in the next 10 years across Africa.

Prime rents in Dubai increased 18 percent in the year to March, leading the performance of global luxury property markets, according to the Knight Frank Prime Global Rental Index.

Private equity company Actis LLP will invest as much as $1.5 billion in African commercial property, hoping to profit from the region's growing middle class. London-based Actis plans to invest in shopping centers, office towers and industrial park projects.

International property marketers have turned their attention to Kenya, hoping to sell high end apartments in Dubai and London to the African country's growing wealthy class.

According to STR Global, the Middle East/Africa region reported mostly mixed performance results in 2012 when reported in U.S. dollars. In 2012, the region reported a 6.1-percent increase in occupancy to 60.3 percent, a 0.5-percent decrease in average daily rate to US$161.64 and a 5.6-percent increase in revenue per available room to US$97.54.

According to a new Global Cities Report by London-based real estate consulting firm Knight Frank, fifteen of the 26 cities tracked by the Prime Global Cities Index (58%) recorded flat or positive price growth in the year to September, but over the last quarter 20 of the 26 cities (77%) have seen flat or positive growth - indicating an improving scenario.

While talk is growing over niche emerging real estate markets in Africa, two firms have stepped to the plate and are pledging a total $528 million for investment in new development. Nairobi-based Actis, one of the largest private equity investors in the world's poorest countries, announced it has raised $278 million. Its fund, Actis Africa Real Estate 2, will back retail and office development in west, west and southern Africa.

The government of Kenya has selected two China-based companies to build one of the largest grid-connected solar power plants in Africa in Kenya's northwest city of Garissa. The announcement didn't disclose the estimated cost of the project but analysts familiar with similar undertakings speculate it will be a multi-billion-dollar endeavor.

According to London-based Knight Frank, a lot has changed on the global economic stage in the last three months that negatively impacts prime residential rental markets across the globe. In Q4 2011 Greece's debt restructuring plans hung in the balance, its southern European neighbors were revising already pitiful economic forecasts downwards and any tangible signs of a recovery in the US seemed a long way off.

According to London-based Knight Frank's Prime Global Rental Index, residential markets across the globe enjoyed an uptick in rental rates in the third quarter of 2011.

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