Property developer, Henbon Company expects strong demand from luxury property market as it breaks ground for its new property in Nairobi.
The firm is riding on analysts projection that rental yields in the city will continue to rise in 2025, with property values remaining strong.
Speaking during the unveiling of unveiled Diamond Bay Residency in Westlands, Henbon Company Coco Fan sales executive said the demand for modern housing continues to surge in the urban areas prompting investors and government to tap into the real estate sector.
“Diamond Residency is not just a building; it is a chance to own part of Nairobi’s future,” she stated.
Rental yields average between six and eight percent, while land values have risen more than 500pc over the past decade.
These figures, combined with demand from Nairobi’s expanding workforce, underline developers interest in the city’s property market.
According to site manager Joseph Awiti, the project has created long-term opportunities for skilled and semi-skilled workers.
Over 220 Kenyans are currently employed permanently on the project with hundreds more trained in construction trades
“For the past eight years, this project has provided jobs for young people, both men and women, we have trained and hired plumbers, masons, electricians, and constructors. Over 220 workers are on permanent contracts. This is not just about homes; it is about reducing unemployment and giving Kenyans skills for life.” he added.
In his closing remarks Renzo Zhang, Henbon Company Sales Manager said Diamond Bay Residences offer modern layouts, strong security, and high-quality finishes for professionals and first-time buyers in a growing Nairobi market.
The project further highlights the growing role of Chinese developers in Kenya’s real estate sector. According to Fan, partnerships between foreign investors and local teams are allowing projects to be delivered faster, on a larger scale, and sometimes at lower cost.
