This archive report was first published on 2 December 2021.
Published on December 2, 2021, the Nairobi Expressway, a Sh65 billion mega-infrastructure project, is nearing completion. The 27-kilometre stretch is expected to have a significant impact on the value of real estate along the corridor and adjacent counties.
Experts reckon that the expressway will result in the rezoning of some areas it passes through, making Nairobi attractive for investments due to reduced traffic. Institution of Surveyors of Kenya (ISK) President Abraham Samoei notes that traffic is the biggest driver for the expansion of roads, which adjusts the value of land and property.
However, Samoei argues that the Nairobi Expressway may not be a significant driver of property value increase, as there are already other roads serving the city. He cites the example of Kilimani, which changed to commercial due to the Ring Road expansion from Westlands to Ngong Road.
Johnson Ndege, a property management consultant, agrees that the expressway will lead to the conversion of some properties along the stretch or closer to the expressway to attract businesses in favour of hotels and office spaces. This rezoning will, however, not be immediate, especially for office spaces.
Dr Mwenda Makathimo, a land valuer and real estate expert, says the Nairobi Expressway will decongest many of the city's areas, causing an appreciation of property along the road. He notes that hospitality entities outside the airport that are served by the expressway are likely to have higher occupancy, leading to increased income and higher values.
However, Makathimo also warns that the expressway will raise noise levels for properties and apartments closer to the road, lowering their value. He says commercial properties whose business is linked to the airport will benefit in terms of value.
