Significant investment in local infrastructure has helped to secure Kenya’s position as the largest economy in East Africa. Tourism and services make the biggest contributions to GDP – at 61% – and an increased demand for commercial and residential property has accelerated the growth of construction.
Kenya’s over half a million square kilometres provide ample opportunity for sustainable building developments. The established financial and business districts are continuing to grow, providing strong potential for real estate investment in major cities. 45 million people call Kenya home – providing a skilled and educated workforce who’re eager to take advantage of the new opportunities these expanding commercial markets present.
Tourism has long since diversified beyond the traditional safari. Hospitality chains are looking to develop luxury facilities near national parks and along the beautiful coastline. One million people visit Kenya each year – mainly from affluent European countries and the US – and the country’s gearing up to become a top-ten holiday destination. The shortfall in luxury facilities provides an opportunity for foreign providers keen to invest in the country. Beach resorts are expanding and only seven out of Kenya’s 26 game reserves are in full operation – leaving significant room for further development
“With Significant Increases in FDI, Nairobi has become a regional hub for businesses operating in East Africa”.
As 21st century infrastructure and commercial property is put in place, Kenya is rapidly becoming a key East African commercial hub – opening up more opportunities for foreign businesses. Oil is set to become the next significant market – as extraction ramps up from the estimated 3.5 billion barrels that Kenya has in reserve.
At Sunbird we have an established presence in Kenya. With our locally registered construction expertise, we can actively support the tourism industry, working with hotel chains to build high-end developments in tourist hot spots. We have a number of fully serviced business complexes in the central business districts of Nairobi – ready to support a range of commercial enterprises. And, as Kenya’s oil and gas industry develops further, we can provide the remote area construction and on-going services required to support its growth