NAIROBI, Kenya, Nov 6 – Anno Real Estate has launched their newest real estate development, Tsavorite gardens with over 300 hundred homes that will be built in the vibrant Kilimani area over the next 3 years.
The ultra modern Tsavorite gardens featuring twin towers each 17 floors high with sky gardens at the top, will have 1, 2 and 3 bed-roomed units with a starting price of 6.8 million.
With a rapidly growing population and more so, an increasing middle class, the residential sector has recorded the highest demand with the nationwide housing deficit standing at 200,000 units annually and an accumulated deficit of over 2 million units.
With an annual urban growth rate of 3.9 percent, Kenya faces a serious housing backlog that continues to impact negatively on the health and well-being of low-income households.
Kenya’s Vision 2030 Third Medium Term Plan (MTP III) 2018-2022 identifies affordable housing as one of the key planks to the realization of inclusive growth that is capable to support the development of a sustainable future.
Specifically, Vision 2030 committed the government to construct at least 150,000 housing units per annum for the entire duration of the plan.
“Our new development Tsavorite Gardens, will be our flagship investment and over the next 3 years will provide employment to over 500 people directly and over 2500 indirectly” said James Mbithi, Sales And Marketing Director, Anno Real Estate.
“We have seen clients who have bought other properties with us being able to lease them out at competitive rent rates enabling them to recoup their money in 7 to 10 years” he added.
On his part, William Deng, Managing Director Anno Real Estate said, “ We are very excited to launch Tsavorite Gardens, in the heart of Kilimani and this project is a further step in our commitment to continue creating amazing livable spaces for our clients as homes and assets they can use to generate income.”
He added that, “Our track record with the different developments we have created so far makes a strong case for a real estate development company providing good quality housing for all our clients”
According to the World Bank Population Growth Data, Kenya’s population currently stands at 54 million and is growing at 2.3%p. a which is 1.3 points higher than the global average of 1.0%p.a.
This has a direct impact on real estate, as the demand for housing especially rentals rises.
Areas with increased demand for rentals in Nairobi include Kilimani, Kileleshwa, Karen, Ngara, Kiambu Road, Ruaka, and Riverside. In the coastal area, demand has increased in Nyali.
