莱坊国际：2025年下半年肯尼亚房地产市场研究报告（英文版）（12页）.pdf

1、 Update2nd Half 2025Knight Franks ultimate guide to real estate market performance and opportunities in Kenya.OVERVIEWKenyas real estate sector in H2 2025 demonstrated resilience against a backdrop of macroeconomic stabilisation,with developers largely focused on completing existing projects across

2、asset classes.The period was marked by innovation in REIT structures and significant debt financing for housing,while office and retail markets recorded improved occupancy rates and expansions,and industrial and alternative assets such as data centres and SEZs remained resilient.The 2026 outlook is

3、defined by cautious confidence amid a prevailing challenging economic environment and uncertainty ahead of the 2027 general elections.As a result,investment activity in 2026 is likely to be measured,with many investors adopting a wait and see approach,limiting expansion to priority opportunities.COV

4、ER IMAGE:iXAfrica Data Centre,Mombasa Road PHOTO:Silver Hills,Tatu CityMACROECONOMIC ENVIRONMENTAccording to the January 2026 Global Economic Prospects,the global economy was expected to have grown at 2.7%in 2025 with projections standing at 2.6%in 2026.Nonetheless,volatility persists amid rising pr

5、otectionism,labour market disruptions,fiscal vulnerabilities,and concerns over a potential AI bubble.Sub-Saharan Africa was estimated to have grown faster than the global average,at 4.0%in 2025,with growth projected at 4.3%in 2026.However,reduced aid inflows,political instability,conflict,high publi

6、c debt,and increasing climate shocks continued to constrain sustainable growth.Kenya is estimated to have grown by 4.9%in 2025,up from 4.7%in 2024,and is forecast to expand by 4.9%in 2026,reflecting steady momentum despite a challenging global and domestic environment.However,this positive outlook r