Real estate developers and investors focused on Kilifi County in 2019, attracted by land prices approximately 40% lower than Mombasa's Nyali area. My Space Property CEO Mwenda Thuranira noted that an acre in Kilifi cost Sh40 million compared to Sh100 million in Nyali, with locally sourced construction materials reducing costs.
Thuranira predicted land value increases as Kilifi developed into a residential corridor for Mombasa, drawing parallels to Nairobi's suburbanization trend. "The affordability and accessibility make Kilifi an attractive alternative to Mombasa's congested urban environment," he stated.
Kenya Tourism Federation Chairman Mohammed Hersi acknowledged Mombasa's spatial constraints, emphasizing that regional development benefits the Coast. "Tourists have long stayed in Malindi and Kilifi, and this expansion supports the entire area's growth," he said.
Investment projects like Centum's Vipingo Park and Inuka Afrika Properties' 50 ongoing developments highlight the trend. The latter issued 1,000 title deeds with flexible payment plans, though warned against land grabbers. Residential plots in Malindi range from Sh300,000 to Sh950,000.
Foreign interest, particularly from Italians, has also grown, with Malindi emerging as a second-home destination. Experts anticipate Kilifi's development mirroring Nairobi's suburban shift as demand for affordable properties rises.
