Period: August 24 to 30, 2015

Home Construction must be completed in 5 years

24/08/2015: Business Daily, page 5

• Property developers and individuals building homes will have to complete the construction within 5years or face penalties under the new proposed law by the government.
• The Physical planning Bill 2015 say the five-year period start once an investor is issued with a development permit.

Kenya Shilling fares better as regional currencies decline

25/08/2015: Business Daily, page 16

• The Kenyan shilling has fared better against the US dollar this year compared to East African currencies, risking making the Kenyan exports more expensive.
• Constrained foreign exchange earnings have a hugely negative effect on African economies given that most are running current account deficits and have weak manufacturing bases which force them to import many basic goods.

Home Construction must be completed in five years

27/08/2015: Business Daily

• Property developers and individuals building homes will have to complete construction within five years or face penalties under a new law proposed by the government
• The physical planning act says “Where an applicant is granted development permission for building works, that applicant shall complete those building works within five years after receiving the development permission.”

Nairobi Cuts building permits fees

27/08/2015: Business Daily

• If the 2015 Finance bill is passed, real estate investors will pay a cost of 0.5% of the total construction cost, down from the current rate between 1 and 1.5%.
• The proposed rate will be flat, a departure from the current one which is based on the size of the building.

Rental Income not favorable for small investors

27/08/2015: Daily Standard, Home & Away Magazine, page 3

• Rental income is considered to bring a 6.9 % return on investment, while treasury bills are known to have a 10% return on investment.
• The residential rental market is profitable where the concept of buying finished units to rent out was conceived.
• However there are particular groups of people who invest in real estate to gain from price increases in the future.

The rising of Lodwar

27/08/2015: Daily Standard, Home & Away Magazine, page 5

• The discovery of oil has been a boom for the people of Lodwar,
• The number of building plans being submitted to the Lands, Housing and planning office is proof of growth in the real estate sector in the region.
• The construction of the World Bank – funded Lapsset project is expected to open up the town for investment.

Nairobi Investors now eyeing Coast

27/08/2015: Daily Nation, DN2 Magazine, page 5

• The discovery of oil has been a boom for the people of Lodwar,
• The number of building plans being submitted to the Lands, Housing and planning office is proof of growth in the real estate sector in the region.The construction of the World Bank – funded Lappset project is expected to open up the town for investment.
• The construction of the World Bank – funded Lappset project is expected to open up the town for investment.