This archive report was first published on 18 October 2019.
On October 18, 2019, Mi Vida, a joint venture between Actis and Shapoorji Pallonji Real Estate, made a significant impact in the Kenyan real estate market by winning the award for the best new entrant at the Kenya Homes Expo 2019 held in Nairobi.
Launched in July 2019, Mi Vida is targeting the middle-income sector with a Ksh12 billion investment. The company aims to construct over 2,000 residential homes in Nairobi, with its first project, Garden City, set to commence construction soon.
Speaking on the sidelines of the expo, Mi Vida CEO Chris Coulson attributed the company's success to a pre-launch market survey undertaken by Actis and SPRE, which gave vital insights into the constraints within the Kenyan residential market.
“When entering a new market, having local knowledge and expertise is indispensable. Prior to investing, we interviewed over 400 people who were actively looking to purchase apartments and we used that feedback to tailor-make our products to suit their needs,” said Mr. Coulson.
Other key factors that prospective home buyers consider include location, price, amenities, quality of construction and finishes, good car parking, security, and the size of a usable balcony.
Actis has a successful track record in Kenya, having invested in Garden City Mall, Residences and Business Park, The Junction Shopping Mall, Nairobi Business Park, and the recently launched Nairobi Gate Industrial Park.
