Kenya’s Siaya County Government is set to start constructing the County Industrial Park project at Got Akara. The Kshs 500 Mn ($3.4 Mn) project is expected to comprise various sectors such as manufacturing, agribusiness, logistics, and technology. Additionally, it will include a state-of-the-art infrastructure under transport, communication, and utility subsectors. Consequently, this project will attract economic investments in the area, and boost the county’s overall economic growth through employment creation and revenue generation.

 

Industrial Parks Are still a  Hot Real Estate Sector In Kenya

Siaya’s industrial project comes at a time when the sector is emerging as a hot Real Estate sector in Kenya, driven by the changing market dynamics. The boom in SMEs (currently accounts for 98% of business in Kenya), e-commerce popularity driving demand for storage spaces, Kenya’s popularity as a regional hub attracting investments, and improved infrastructure developments are some of the key features that have driven the attractiveness and performance of the sector. 

 

In just a span of the last six months, Tatu City Limited, in collaboration with Chandaria Properties and M&T Construction and Steel Structures, commenced the construction of a warehouse and logistics park dubbed ‘The Link’, in Tatu City. Similarly, Zhende Medical Limited, announced plans to construct a medical supplies factory at Tatu City, while Gateway Real Estate (GREA), the Real Estate development subsidiary of GRIT Real Estate Income Group, began the development of a new grade A warehouse facility for Orbit Products Africa Limited, in June 2023. 

We expect a similar trend to continue shaping the sector’s performance, which in turn supports the growth of Kenya’s property market, and the economy as a whole.

 

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