Photo: Kenya National Chamber of Commerce

6th East Africa Property Investment (EAPI) Summit’s a darling to President Uhuru’s low-cost housing plan

Nairobi is gearing for the 6th East Africa Property Investment (EAPI) Summit to be hosted at the Radisson Blu Hotel on 10th and 11th April 2019.

East Africa Property Investment (EAPI) Managing Director Kfir Rusin has expressed confidence that the iconic forum will facilitate a new era of investment and development driven by market affordability.

Update Realty understands that through the 2019 event, regional investors seek to hand over an affordable housing manifesto to the Kenyan government.

Kfir Rusin vouched for the manifesto, terming it a great instrument that will help streamline the private sector investment into affordable housing and provide a concrete mechanism for engagement with public-sector leaders.

Mr. Rusin’s stance received a strategic backing from the Affordable Housing Plan’s chief architect and Housing and Urban Development PS Charles Hinga Mwaura who said; “In line with the government’s Big Four Agenda on housing, we note that EAPI Summit will provide a platform for the public and private sector to discuss new means of reducing the overall cost of doing business to create a more affordable and sustainable real estate sector.”

Kfir Rusin. Photo: The Herald

The EAPI boss noted that the summit will offer stakeholders an opportunity to showcase their “existing pipeline projects to potential business partners and to make contribution in the delivery of government’s housing plan.”

Business Insider had in a piece published 2018 quoted Mr. Rusin: “The reality is that the cost of real estate transactions remains too high in East Africa and this is inhibiting the growth of the sector. To restore real estate as a significant driver of sustainable growth, we have to reduce the input costs of building and deepen the available sources of funding; especially as we build the foundation for more affordable housing in Kenya and East Africa,”

He added: “The private sector is key to growth, but at this juncture, it’s critical that the public sector, industry bodies, and the development finance institutions come together and drive transactions in the market and make the sector more attractive to local and international money.”

A National Housing Corporation (NHC) project in Changamwe, Mombasa County, using the expanded polystyrene (EPS) technology. Photo: Nation

In 2018, the event featured the growing appetite and shift in focus towards affordable housing and warehousing by both local and global private-sector investors. This has presented a dire need of a manifesto to provide a road-map for private-public sector partnership.

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