Vooke - Cytonn building 3 -35 floor towers in Kilimani

[RV Pundit]

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Clearly there are on steroids. The race is on to make Nairobi the Africa best city. Avic 6 towers all on steroids. Africa tallest - the Pinacle - at 70 floors is under construction.Montave 40 floors under site preperation.And many many more.

[Nefertiti]

I thought Africa's top economist - Dr Ndii - said skyscrapers and superhighways are not development.

[RV Pundit]

What are they - Ivory Towers like Dr Ndii?

I thought Africa's top economist - Dr Ndii - said skyscrapers and superhighways are not development.

[bryan275]

I thought Africa's top economist - Dr Ndii - said skyscrapers and superhighways are not development.

Super highways, yes, skyscrapers...no.

[Nefertiti]

Yup. At least white elephants are abandoned earlier.

What are they - Ivory Towers like Dr Ndii?

I thought Africa's top economist - Dr Ndii - said skyscrapers and superhighways are not development.

[vooke]

What are they - Ivory Towers like Dr Ndii?

I thought Africa's top economist - Dr Ndii - said skyscrapers and superhighways are not development.

[bryan275]

What are they - Ivory Towers like Dr Ndii?

I thought Africa's top economist - Dr Ndii - said skyscrapers and superhighways are not development.

Shopping malls are not development.    This examples is a very good illustration...

[RV Pundit]

Anecdotal evidence is not bad. Obviously someone sinking a billion or more into this has done their maths. There is no let up of building coming up all over Nairobi. Look at Bryan, Kadudu and some of NASA crew here..as early as 2006..they were shouting the bubble will burst..those are the days when a nice 3 bedroom in nicest places of Nairobi would go for 3-5m...now the same is 20-30m. The bubble has not burst. You're talking about a city with huge backlog of office/real estate. The bubble will burst 100 yrs from now.

Nairobi is clearly out there doing bigger things than any city in Africa - is it overdoing it - maybe - maybe not. All we need is for Uhuru to steer the country back to the path of stability and we should be fine.

[Nefertiti]

That is Dubai or Kuala Lumpur skyline. Nairobi has residential housing shortage not office. Certainly not high-end. Otherwise why is Two-Rivers half empty? Just consider those skyliners in Dubai - UAE economy is USD400B vs 9M folks - US$40K per head. Versus Nairobi US$1.5K. That basically tells us we're poor blokes driving big car to show off.

[Nefertiti]

Dubai was actually hot property - as an an FDI frontier especially MNCs and tourism. Big hotels. Kenya maybe IBM & Boeing need to open new office? If commercial housing doesn't stumble - dropping rates will be good for FDI. Housing/land is always part of the considerations. But I rather look out for ease-of-doing-business index instead of office space.

[Globalcitizen12]

Lol cytonny is mahendeleo tupu ..invest and make millions

[hk]

Dubai was actually hot property - as an an FDI frontier especially MNCs and tourism. Big hotels. Kenya maybe IBM & Boeing need to open new office? If commercial housing doesn't stumble - dropping rates will be good for FDI. Housing/land is always part of the considerations. But I rather look out for ease-of-doing-business index instead of office space.

I think the hotel industry has room to grow and there's quite bit of construction on that front http://www.businessdailyafrica.com/corporate/companies/Kenya-to-get-4-000-new-hotel-beds-in-five-years/4003102-4115610-8gv2e5/index.html . The tourism sector even with negative impact of election has maintained a steady growth. We're only receiving 1.1m tourists and we can easily double that. Beyond that if we can encourage those tourist to buy locally produced goods, that can have a serious multiplier effect. For example, most of the packaged roasted coffee by dormans,java and the smaller roasters is bought by tourists.

[RVtitem]

Milimani will be Chinese territory in couple years just like india Parklands. Those areas willl be out of bounds for negro

[RV Pundit]

Look like most of money to build these Cyton skyscrapper is FDI from finnish fund. Our real estate sector is attracting capital because ROI is demonstrable. Nairobi definitely now a magnet for FDI. If only we got get 47 cities (now county HQs) growing at the same pace....we would slowly crawl out of rural poverty.
http://www.nation.co.ke/business/Cytonn-unveils-plan-to-build-35-storey-tower-in-Kilimani/996-4116834-l2rdj9/index.html