The Kenya Property Developers Association (KPDA) has formally launched its Coast Chapter, aiming to tap into the region's vast potential for real estate growth. The chapter was unveiled at a breakfast summit held at the Tamarind Hotel in Mombasa, bringing together developers, investors, financiers, and government representatives. This move marks KPDA's 20th anniversary and its expansion beyond Nairobi. The Coast Chapter will serve as a dedicated platform for industry stakeholders to connect and explore investment opportunities.
KPDA chairman Zoravar Singh highlighted the Coast's considerable untapped potential, stating that the new chapter will strengthen the association's presence in the region. The chapter's establishment is expected to provide a platform for closer engagement with developers, government, and other stakeholders. Singh emphasized that the Coast is a key market with significant potential for real estate and investment.
The Coast Chapter representative, Ahmed Badawy, noted that the platform will enable industry players to collectively address regulatory and development barriers facing the region. The chapter will unite stakeholders to tackle development challenges, exchange knowledge, and engage the government on policies that can promote investment and sustainable growth across the region.
A panel discussion at the summit focused on the conditions needed to attract sustained property investment across the Coast, including access to financing, land, infrastructure, and the regulatory environment. KCB Group head of project management and investments, Ken Luusa, highlighted the role financial institutions will play in realizing these opportunities. He emphasized the need for suitable financing and closer collaboration among industry players.
Guest of honour, Suleiman Shahbal, stressed that the region's geographic and economic advantages need to be paired with a stable investment climate to deliver lasting results. He noted that the Coast has the resources, infrastructure, skilled workforce, and strategic location needed to attract major investments. Shahbal emphasized that real estate development should contribute to job creation, support businesses, and improve opportunities for local communities.
The real estate expansion comes amid increased infrastructure projects on the Coast, creating jobs, improving connectivity, and expanding opportunities for young people and small businesses. The projects include road upgrades, affordable housing developments, and a new stadium in Voi. These developments have provided employment, practical training, and a path to financial independence for residents who struggled to find work.
The launch of the Coast Chapter is expected to have a positive impact on the region's economy, with industry stakeholders working together to unlock the Coast's potential. The chapter's establishment will provide a platform for collaboration and knowledge sharing, ultimately contributing to sustainable growth and development in the region. Key players are optimistic about the prospects for real estate investment on the Coast.
Key points
- KPDA launches Coast Chapter to boost real estate investment
- Industry stakeholders to address regulatory and development barriers
- Infrastructure projects on the Coast create jobs and improve connectivity
