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Kenya’s residential market booms: opportunities and challenges ahead

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Kenya

Kenya’s residential market is experiencing remarkable growth across the income spectrum, driven by increasing demand from local buyers, expatriates, and international investors

NAIROBI, Kenya, April 16, 2025/APO Group/ –Kenya’s residential market is thriving, driven by rising demand from buyers, expatriates, and international investors. The luxury and affordable housing markets are having a moment with potential buyers. These dynamics will take center stage at the 2025 East Africa Property Investment Summit in Nairobi from 7-8 May at Pullman, Upper Hill, Nairobi, Kenya (https://www.APIEvents.com)​.

Kenya’s residential market is experiencing remarkable growth across the income spectrum, driven by increasing demand from local buyers, expatriates, and international investors.

This segment has become a focal point for developers and stakeholders seeking to capitalize on Kenya’s evolving real estate landscape.

Kenya’s housing market is divided into two segments: the luxury and affordable market.

On the luxury end of the residential market, Kenya’s growing number of high-net-worth individuals and expatriates are driving demand for premium properties in exclusive neighborhoods.

This demand for premium properties is driven by affluent buyers, with projections indicating further growth to 16,900-dollar millionaires by 2026, according to the 2024 Africa Wealth Report published by Henley & Partners in collaboration with New World Wealth.

Nairobi ranks among the top cities globally for luxury real estate price growth, and in some cases, it has outperformed cities like London and Paris.

The dynamics of Kenya’s high-end residential market will be explored during the upcoming East Africa Property Investment (EAPI) Summit, a premier real estate event that brings together over 450 global investors, developers, and professionals from the real estate industry. The 12th annual summit will be held in Nairobi from 7 to 8 May 2025, at Pullman, Upper Hill.  This year’s EAPI Summit will explore how developers and investors can capitalize on investment opportunities in countries such as Tanzania and Zanzibar, Kenya, Uganda, Rwanda, and Ethiopia. These countries are showing promising signs of economic recovery, improving political stability, and stabilizing interest rates.

Real estate experts will unpack investment opportunities in Kenya’s high-end residential market. Institutional investors and development finance institutions are increasingly paying more attention to the country’s residential market as they are funding several development projects and have ambitions of developing good neighborhoods. These investors continue to fund mixed-use developments that combine residential spaces with retail and leisure facilities, attracting younger buyers seeking modern living solutions.

Its financial solutions include mortgage financing to cover the property sale price plus closing costs like stamp duty and legal fees; financing for residential property construction; funding products targeting Kenyans seeking affordable housing solutions; cost for residential plots in major towns; and blended finance options for sustainable and affordable student housing.

Stanbic Bank/Standard Bank is committed to supporting sponsors that are addressing Kenya’s housing needs while promoting sustainability and economic growth in the real estate sector. This is why Stanbic Bank is supporting this year’s EAPI Summit as a gold sponsor.

While the luxury end of the residential markets remains shaped by location, size of the unit, and breadth of features that align with buyer tastes and aspirations, Stanbic Bank believes that the luxury segment is not starved of attention from investors. However, the affordable housing market remains neglected.

And because of this, the financial service company is choosing to back the affordable/middle-income housing segment, where the demand remains strong and impact benefits are richer.

“In that segment, factors shaping the evolution of successful projects are the proximity of projects to key business hubs, accessibility to transport networks, and quality of offering trade-offs relative to price point. It is useful to highlight that the demand in a large section of this market segment is driven by the rental markets and the retail and institutional property investment markets,” says spokesperson Niyi Adeleye, the head of real estate finance for Africa regions at Standard Bank Group, which is part of the Stanbic Bank.

The Stanbic Bank/Standard Bank’s sponsorship will enable investors to understand Kenya’s residential market over the two days scheduled for the EAPI Summit, connecting them with industry experts. The financial services company will back investors aligned with its mandate of investments in the affordable housing market.

“For Standard Bank/Stanbic Bank, our interests remain to actively participate in and contribute to the development and shaping of the built environment in key countries in our footprint of which Kenya is key. Our activities provide opportunities to participate in projects with significant social impacts and deepen environmental impacts in collaboration with the project sponsors through the development of green-rated properties and our provision of green loans to back those developments. In addition, these projects help shape the property evolution of the cities and countries to improve livability and the growth and availability of more robust social infrastructure,” says Adeleye.

As East Africa’s economic and cultural hub, the city is increasingly attracting a global, more sophisticated consumer— one who has been exposed to premium real estate

Despite the growth potential of Kenya’s residential market, it faces notable hurdles.

Real estate developers struggle with access to long-term financing due to high interest rates and stringent lending requirements, leaving them with limited financing options for residential projects.

There are also land tenure issues, with legal disputes over land ownership that can delay projects and increase costs for developers. Another conundrum is that the demand for residences and luxury homes often outpaces supply, which creates competitive pricing pressures.

At the EAPI Summit, there will be leading experts helping potential investors navigate through these challenges. Among the experts set to be in attendance is Hass Consult, a company offering high-end homes for sale all over Nairobi. To demonstrate its commitment to helping investors, Hass Consult has joined Stanbic Bank as a sponsor of the EAPI Summit.

Hass Consult is bullish on Kenya’s housing market, particularly the luxury segment.

Farhana Hassanali-Hashmani, the CEO of Hass Consult, says Kenya’s luxury housing market is increasingly opening to global buyers.

“As East Africa’s economic and cultural hub, the city is increasingly attracting a global, more sophisticated consumer— one who has been exposed to premium real estate and world-class hospitality standards. This demographic, which includes a growing number of expatriates and globally mobile Kenyans, brings with it elevated expectations for quality, design, and lifestyle,” says Hassanali-Hashmani.

This global influence has translated into a significant increase in the willingness to pay for luxury and value-added amenities, says Hassanali-Hashmani.

She adds that property developers now have more latitude to invest in high-quality finishes, curated experiences, and thoughtful design that elevates not just the property, but the lifestyle it enables.

“Today, luxury is not solely about the physical asset; it’s about the entire user experience. Homeowners and investors are looking for developments that offer seamless living—from top-tier management to integrated wellness facilities and thoughtfully designed communal spaces. The emphasis on lifestyle is now central to how value is perceived and how capital growth is sustained.

“There’s a strong and growing demand for developments that offer world-class lifestyle amenities—spaces that speak to health, wellness, and fitness, all delivered through a refined user experience. Residents are looking for environments that support balance, well-being, and convenience, echoing global trends in urban living,” says Hassanali-Hashmani.

There’s also a significant shift in the demographic of buyers in the luxury housing market.

Says Hassanali-Hashmani: “Luxury is no longer confined to the older, ultra-wealthy buyer purchasing sprawling homes. We’re seeing a diverse mix of younger, aspirational buyers who are investing in compact yet premium residences—where quality, convenience, and lifestyle matter more than square footage.”

Buyers are also more environmentally conscious and are actively seeking housing developments that are eco-friendly, energy-efficient, and built with a responsible footprint.

Whether it is the affordable or luxury housing market, Stanbic Bank and Hass Consult remain positive about Kenya and will explore opportunities at the EAPI Summit.

The 12th East Africa Property Investment Summit meeting will take place on 7 and 8 May 2025 at Pullman, Upper Hill, Nairobi, Kenya. For more information and to book to attend the EAPI Summit visit https://EAPISummit.com.

Distributed by APO Group on behalf of API Events

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World’s biggest brands increasingly spend less of their sales revenue on advertising – except consumer goods giants

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October 15, 2026

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15 October 2026 – The world’s largest brand owners are, on average, spending a diminishing share of their sales revenue on advertising – with the notable exception of consumer goods companies, finds WARC Media.

In its latest “Global Ad Trends report: The cost of being seen”, WARC Media examines shifts in advertising intensity among 25 of the world’s largest advertisers, to better understand the extent to which big brand-owners are driving growth in the global market.

 




  

Alex Brownsell, Head of Content, WARC Media, says: “The global ad market is expanding rapidly, but companies from Meta to Mastercard and McDonald’s are allocating a diminishing share of revenue to advertising. Only consumer goods companies – buffeted by softening sales growth and with trade budgets moving into measured media – are increasing ad intensity.

“This underlines what we’ve previously reported – namely that we are operating in a two-speed marketplace. The expansion of digital platform spend by smaller businesses and cross-border e-commerce sellers is by far outpacing growth in ad investment by big brands. This has major implications for the ecosystem of agencies and vendors operating in the enterprise market.”

Key findings outlined in WARC’s “Global Ad Trends: The cost of being seen” are:

Advertising intensity is changing

WARC Media forecasts global ad spend to grow 11.9% this year to $1.34trn. Adjusted for inflation, this is an increase of 61.3% over the last 25 years, fuelled by new channels like retail media and platform advertising that didn’t exist a decade ago.

However, advertising intensity has declined in recent years. Across 25 large US-based advertisers, the combined ad-to-sales ratio, a measure of how much companies spend relative to their size, fell from 6.1% in 2019 to 5.5% in 2025. This does not represent a retreat from advertising: their combined ad spend rose 56%, but budgets have not kept pace with rising revenue, which rose by 73%.

Big Tech companies are driving the downward trend

Alphabet, Meta, Microsoft and Netflix’s combined ad-to-sales ratio fell from 13.0% to 7.4% between 2019 and 2025, while their combined revenue rose 146%, from $379bn to $931bn. Had they maintained their 2019 ratio, these brands would have spent $121bn in 2025 – $52bn more than they actually did.

Consumer goods brands are an outlier, with intensity rising

The six biggest consumer goods brands analysed by WARC Media – Coca-Cola, Estée Lauder, L’Oréal, Nike, PepsiCo and Procter & Gamble – moved the other way. Five raised their ad-to-sales ratios between 2019 and 2025; PepsiCo’s was broadly flat.

Softening sales growth pushed the combined consumer goods ad-to-sales ratio from 11.6% in 2023 to 12.5% in 2025, with budget shifts into areas like retail media further lifting ad intensity. From 2019 to 2025, their collective ad spend grew 36%, outpacing 29% revenue growth.

Non tech companies and consumer goods brands are less consistent

The remaining 15 advertisers – neither tech nor consumer goods – tell a less consistent story. Weighted by revenue, the group’s average ratio was flat to slightly up, yet 10 of the 15 individual companies cut their ratios between 2019 and 2025:

 

  • Automotive: Ford (2.3% to 1.6%) and General Motors (2.7% to 1.7%).
  • Payments: Visa (4.8% to 4.2%) and Mastercard (5.6% to 4.0%).
  • Restaurants and retail: McDonald’s (1.7% to 1.3%) and Target (2.0% to 1.4%).
  • Also falling: Marriott, Booking Holdings, Eli Lilly and The Home Depot.
  • Amazon and Yum! Brands were broadly flat.
  • Three companies saw their ad-to-sales ratios rise: Walmart, Starbucks and Expedia.

The three forces behind the ratio split

There are three main forces that cause changes to ad intensity:

  1. Weak sales. Brands maintaining ad spend in adverse market conditions, with sales going into reverse, may see ad intensity rise.
  2. Budgets changing lines. Money that used to sit with sales teams as trade and shopper spend is moving into retail media, and so into the advertising line.
  3. Owning versus renting attention. Companies that own an audience, like Alphabet and Meta, have an opportunity to grow without renting attention.

WARC Media subscribers can read the report in full. A WARC podcast on the findings outlined in the report will be available from 17 November.

 

Global Ad Trends, part of WARC Media, is a quarterly report which draws on WARC’s dataset of advertising and media intelligence to take a holistic view on current industry developments.

  




 

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Senegal Opens 104 Blocks to Investors, Targets New Upstream Contracts

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October 15, 2026

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Senegal

Senegal’s Minister of Energy and Petroleum, El Hadji Abdourahmane Diouf, told AEW delegates that the country is seeking partners for its remaining acreage, the Yakaar-Teranga gas project and downstream developments

CAPE TOWN, South Africa, October 15, 2026/APO Group/ –Senegal has 104 oil and gas blocks available to investors and is seeking new upstream contracts to accelerate exploration and production, El Hadji Abdourahmane Diouf, Minister of Energy and Petroleum, said at African Energy Week 2026 in Cape Town. Of the 113 blocks in Senegal’s reorganized acreage, four are under contract and five have been allocated to Eni for studies, leaving substantial opportunities for international and regional operators.

 

“We hope to sign a number of contracts…” he said, adding that the country aims to “show investors that Senegal remains the country it has always been: open, hospitable and respectful of international procedures.”

Senegal reorganized its upstream acreage into 113 blocks in March 2026, comprising 65 onshore and 48 offshore blocks. The country also signed an agreement with Eni to assess the oil and gas potential of five offshore blocks.

Our strategy is to build the value chain from the well to the factory, with gas at the heart of our industrial ambition

Beyond new exploration acreage, Senegal is seeking partners to develop the Yakaar-Teranga gas project alongside national oil company Petrosen. Petrosen took full control of the project after Kosmos Energy withdrew in April 2026. Minister Diouf said Yakaar-Teranga will supply gas for power generation, industrial applications including fertilizer production, and exports. Advancing the project will require a coherent development structure, credible buyers and a clear investment program.

“Our strategy is to build the value chain from the well to the factory, with gas at the heart of our industrial ambition,” he said.

Downstream, Minister Diouf pointed to a planned second refinery that will process Sangomar crude, with investment estimated at $2 billion to $3 billion. The Société Africaine de Raffinage (SAR) and Turkey’s Yamata signed a Memorandum of Understanding for the four-million-ton-per-year refinery in New York on September 23, 2026. Minister Diouf said the project opens further opportunities in storage, logistics, distribution and petrochemicals.

Minister Diouf invited investors to examine Senegal’s data, work with its technical teams and bring proposals backed by the capacity to invest and execute. He also asked partners to involve Senegalese companies and skills from the outset, with support from the national local content monitoring committee.

“Capital must earn a return. Senegal must gain a stronger economy. The partnership we seek must serve both purposes,” he said.

According to Minister Diouf, Senegal hopes to expand the MSGBC alliance beyond its five host countries of Senegal, Mauritania, The Gambia, Guinea-Bissau and Guinea, but he did not specify which countries are being considered.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Africa shifts from carbon market potential to delivery as Carbon Markets Africa Summit (CMAS) 2026 opens in Kigali

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October 15, 2026

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Carbon Markets Africa Summit

African governments, development finance institutions and global climate leaders call for high-integrity markets, investment-ready projects and greater value for African communities

KIGALI, Rwanda, October 15, 2026/APO Group/ –Africa must move beyond carbon market potential towards delivery, building high-integrity, investable markets that attract long-term capital while protecting national climate priorities and ensuring greater value reaches African countries and communities.

 




 
 

That was the central message from the opening keynote sessions of the Carbon Markets Africa Summit (CMAS) 2026 in Kigali, Rwanda, where policymakers, investors, project developers, development finance institutions and international climate organisations gathered to accelerate Africa’s participation in global carbon markets.

Representatives from 45 countries, including 21 African nations, are participating in the summit, where discussions have shifted decisively from market readiness to implementation, investment and transactions.

Officially opening the summit, Hon. Dr Bernadette Arakwiye, Rwanda’s Minister of Environment, said Africa’s carbon markets must be shaped by African priorities and deliver tangible benefits for the continent.

“The question before us is therefore no longer simply whether Africa is ready. It is whether we can deliver at scale, with integrity and with innovation.”

Minister Arakwiye said progress is already evident as African countries establish carbon market frameworks, grant authorisations, sign bilateral agreements and develop projects. However, she cautioned that carbon finance remains concentrated in a relatively narrow range of project types. She called for diversification into renewable energy, electric mobility, sustainable waste management, industrial decarbonisation, agriculture and landscape-scale nature-based solutions.

Minister Arakwiye identified three priorities for scaling Africa’s carbon markets: accessible methodologies suited to African contexts; project preparation and readiness finance; and long-term demand at fair value.

“Trust is the currency of this market,” she said. “To our buyers and investors, I say: look closely at these efforts. Reward them with long-term demand, fair prices and patient capital.”

From potential to execution

The call for delivery was echoed by Hon. Hamad Yusuf Masauni, Tanzania’s Minister of State in the Vice President’s Office responsible for Union Affairs and Environment, who said the continent now has an opportunity to reposition itself in global carbon markets.

“For too long, Africa has been spoken about as a continent of potential. At the Carbon Markets Africa Summit, we declare that the era of potential is giving way to the era of execution.”

Minister Masauni stressed the importance of moving high-quality, bankable projects through to issuance and offtake rather than focusing solely on the size of project pipelines.

“Credibility is built one verified tonne, one closed deal and one community that sees real benefit at a time.”

The importance of ensuring value reaches communities was also central to remarks from Maxwell Gomera, UNDP Resident Representative in South Africa and Director of the Africa Sustainable Finance Hub.

Gomera called for market infrastructure capable of carrying value “from the buyer all the way to the farmer”, backed by strong community rights, enforceable benefit-sharing, early-stage finance and partnerships focused on delivery.

Africa urged to compete on integrity, not price

For too long, Africa has been spoken about as a continent of potential

Speakers also stressed that Africa’s competitive advantage should be the quality and integrity of its carbon assets rather than simply offering the lowest-priced credits.

Perumal Arumugam, Manager of Markets and Non-Markets and Stakeholder Interaction at UN Climate Change (UNFCCC), said Africa should move beyond asking how it can participate in carbon markets and instead consider how carbon markets can advance African priorities.

“Africa should not compete simply by offering the cheapest tonnes. Africa should compete by offering credible and creditable tonnes, a sustainable tonne, and a tonne that the world can trust.”

He said success should ultimately be measured not only in credits issued, but in investment mobilised, mitigation unlocked, value reaching communities, stronger economies and African countries retaining control over their climate transitions.

Speaking on behalf of AUDA-NEPAD, Esterine Fotabong similarly called for African countries to scale carbon markets on their own terms, supported by predictable authorisations, functioning registries and credible monitoring, reporting and verification systems.

She also highlighted the need to build greater African capacity in validation and verification and expand access to carbon finance in sectors such as agriculture.

Global demand will reward quality

Representing the European Commission, Lukas Visek, Deputy Head of the Directorate-General for Climate Action Task Force for Carbon Pricing and Carbon Markets, signaled future European demand for international carbon credits while stressing that quality requirements would be stringent.

“Additionality and permanence are not negotiable,” he said. “Quality, however, will be rewarded.”

The message to developers was clear: projects being developed for future international demand will need robust data, genuine additionality, strong community participation and demonstrable alignment with national and global climate goals.

Turning carbon projects into investable assets

The summit’s opening programme then moved directly from policy to capital and deal flow, with leaders from the African Development Bank (AfDB), Development Bank of Southern Africa (DBSA) and Kigali International Financial Centre (KIFC) examining the practical barriers preventing more investment from reaching African projects.

Policy certainty, early-stage project preparation, bankable pipelines, robust governance and appropriate financial risk-sharing were identified as critical to accelerating capital flows.

Dr Anthony Nyong, Director of Climate Change and Green Growth at the African Development Bank, emphasised that carbon markets should ultimately be viewed through the lens of African development.

“We don’t have carbon projects. We have development projects.”

Greg Fyfe, Chief Investment Officer at DBSA, highlighted the catalytic role development finance institutions can play by supporting project preparation, providing patient capital and absorbing risks private investors are unable to take.

The opening sessions underscored a decisive shift in the African carbon market conversation: from readiness to delivery, from fragmented projects to investable pipelines, and from selling credits to building markets capable of delivering lasting economic, social and climate value.

As CMAS 2026 continues in Kigali, attention now turns to connecting credible African projects with buyers and capital, unlocking transactions and ensuring Africa plays a leading role in shaping the next generation of global carbon markets.

Distributed by APO Group on behalf of VUKA Group.

 

 




 

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