Kenyan developers press for faster approvals and long-term property finance
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The Kenya Property Developers Association says fragmented regulation, unpredictable policy, high development costs and weak infrastructure are undermining project viability, and is pushing reforms on approvals, taxation and land administration.
Fragmented regulatory processes, unpredictable policies, high development costs and inadequate infrastructure continue to undermine the viability of property development projects in Kenya, the Kenya Property Developers Association (KPDA) has said.
The association said regulatory uncertainty, lengthy development approval processes and inadequate long-term financing are constraining investment in real estate despite growing demand for housing, commercial property and supporting infrastructure.
KPDA is pushing for reforms covering development approvals, property taxation, land administration and infrastructure planning, arguing that a more predictable operating environment would improve investor confidence and accelerate project delivery.
KPDA chairman Zoravar Singh said Kenya needs greater policy predictability, more efficient approval processes, stronger infrastructure planning and innovative financing solutions, describing these as fundamental to attracting investment and delivering quality developments.
On financing, the association is advocating greater participation by pension funds, institutional investors, banks and development finance institutions to mobilise long-term capital, and says alternative financing structures could support residential, commercial and industrial projects weighed down by high upfront costs and long delivery timelines.
KPDA also wants better alignment between land-use planning and infrastructure provision, is engaging policymakers on tax measures affecting property investment, and is pushing for access to financing for decarbonisation and sustainable building. The proposals are expected to feature at the association's KPDA@20 annual conference in Nairobi.