HON DUALE GRACED THE OFFICIAL LAUNCH OF KOWTHAR APARTMENTS

HON DUALE GRACED THE OFFICIAL LAUNCH OF KOWTHAR APARTMENTS 

Former Majority Leader Hon Aden Duale graced the launch of Kowthar Luxury apartments by Southern Sahil. Southern Sahil brings a wealth of experience, expertise and resource mobilization to the real estate sector. 

Kowthar Luxury is a 22 floor high rise apartments located on the First  Parklands Avenue, comprising of new exquisite residency comprising of 60 units offering 3 and 4 bedroom simplex apartments, and 5 bedroom Duplex apartments. 

This high end apartments are surrounded by a lush green landscape, thus breathing taking development with contemporary lifestyle to create a captivating Homely experience. 

For the past two decades, the Kenyan real estate market has grown unprecedented as evidenced by its contribution to the country’s GDP which grew from 10.5% in 2000 to 12.6% in 2012 and 13.8% in 2016. The growth is driven by deliberate investment by the government in key sectors including 

1. Infrastructural developments such as improved roads, utility connections, upgrade of key airports;
2. Stable GDP growth which has averaged at 5.4% over the last 5 years against a Sub- Saharan average of 4.1%;
3. The Demographic trends such as rapid urbanization at 4.4% p.a against the world’s 2.5% and population growth averaging at 2.6% p.a; 

Kenya government identifies affordable housing as a top priority with a goal of adding 500,000 homes in the next five years. 

As the economy continues to expand, more Kenyans are leaving rural regions for more urban areas in search of higher paying careers. This trend has created a demand for additional housing in cities such as Nairobi, Mombasa and Kisumu among other areas.

High total returns averaging at 25.0% against 12.4% in the traditional asset classes.

These factors have therefore led to the development of unique trends across the various real estate themes, as investors sought to gain high returns and buyers sought aspirational lifestyles and quality products. 

In order to spur on private sector investment and participation, the GOK has taken to streamlining processes and developed a one-stop-shop within the Ministry of Transport, Infrastructure, Housing & Urban Development for companies interested in pursuing and/or developing projects. 

In attendance were Southern Sahil Kenya Directors, project team members, the contractor, community leaders and Turkish Ambassador to Kenya HE Ahmet.

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