Kenya’s real estate sector has been on a strong growth trajectory, with projections indicating a market value of $733.4 billion in 2024 and a projected volume of $944.1 billion by 2029.
This growth is attributed to a confluence of factors, including interest rates, housing supply, and regional economic conditions. To gain insights into the sector’s prospects in 2025, CNBC Africa’s Tabitha Muthoni interviewed Mwenda Thuranira, CEO of MySpace Properties provided some insights.
Thuranira highlighted a surge in interest from both domestic and international players, including Chinese developers driving affordable housing projects and international retailers like Carrefour expanding their commercial presence. Emerging investment hotspots, such as Rwaka, Kikuyu, and Dika, are witnessing significant development due to improved infrastructure.
“The private sector has a crucial role to play in addressing the affordable housing needs of Kenyans,” stated Mwenda Thuranira, CEO of MySpace Properties, during the interview with CNBC Africa. “We need to focus on providing housing solutions for the less fortunate and underserved communities.”
Thuranira emphasized the importance of professionalization and regulation within the real estate sector, including increased registration of firms with professional bodies and comprehensive training programs to ensure sustainable growth. He also highlighted the evolving preferences of younger generations, who are seeking modern and flexible living spaces, driving the rise of mixed-use developments.
Thuranira’s insights provide valuable perspectives on the opportunities and challenges facing Kenya’s real estate sector in 2025 and beyond, shaping the future of the country’s property market.
Source: CNBC Africa interview with Mwenda Thuranira, CEO of MySpace Properties.
