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Real Estate - Top Headlines & Latest Trends

Asking rents and occupancy levels in Kenya reduce by 9 percent

Asking rents and occupancy levels in Kenya reduce by 9 percent

2017-10-11 00:05:03, kbc.co.ke

Asking rents and occupancy levels in major cities and towns in Kenya reduced by 9 percent and 2.7 percent respectively this year attributed to a 41.6 percent increase in mall space supply. This is according to the latest Cytonn Investments real estate report which indicates that the retail sector still offers relatively high returns compared to other asset classes.

 

Residential

Why you need to be at Crystal Rivers mall & gated community

Why you need to be at Crystal Rivers mall & gated community

2017-03-28 08:51:34, the-star.co.ke

In case you haven't heard of it, this is the latest anticipated development in Nairobi. Crystal Rivers mall and gated Community is a “Live, Work and Play” development by Safaricom Staff Pension Scheme. The mall is conveniently located at the busy Mombasa Road, just 1.2 Kms past the Mombasa/ Kitengela Roads interchange, Athi River, Machakos County. The site is only 10 minutes drive from Jomo Kenyatta International Airport and 25km from the City Centre of Nairobi

 

Property Management

Court orders landlord to pay tenant Sh50,000 for confiscating property over rent

Court orders landlord to pay tenant Sh50,000 for confiscating property over rent

2017-06-19 21:34:27, standardmedia.co.ke

A landlord who confiscated his tenant's television and fridge during a dispute over rent has been ordered to pay the tenant Sh50,000. Ronald Ngulu will pay Cliff Mbala Sh50,000 plus interest for six years after the Court of Appeal saved him from paying Sh400,000 as ordered by the Magistrates' Court and confirmed by the High Court. The case started after Mr Ngulu sent auctioneers in July 2006 to get the household items as a way of recovering one month's rent, which was in dispute

 

Developers

Court: Developer sues financier for 'excess payment' of Sh4m

Court: Developer sues financier for 'excess payment' of Sh4m

2018-01-04 05:39:11, standardmedia.co.ke

NAIROBI, KENYA: A real estate developer has sued Housing Finance Company of Kenya for overcharging it for the construction of residential houses in Kiambu. Hadar Limited, in a suit filed at the High Court, claimed that it had repaid Sh167 million HFCK loaned the company for the construction of the three- and two-bedroom houses, but that the lender was still demanding payment despite an audit report showing an excess payment of Sh4 million

 

Commercial

Nakumatt shuts down another store over huge rent arrears

Nakumatt shuts down another store over huge rent arrears

2017-04-12 12:46:37, nairobinews.co.ke

By HILARY KIMUYU East Africa’s largest retail chain Nakumatt has shut down another store over outstanding rent arrears. The struggling retail giant closed doors of one of its outlets, Katwe branch in Uganda, which was opened in October 2013. According to Ugandan media, the retailer has not paid rent for several months and owes the outlet’s landlord approximately Sh8.5 million, forcing it to close the outlet’s doors in a bid to recover the money

 

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