SPBR Newsletter, March 2019 Edition

E-Newsletter	March 2019

OVERALL SITE PROGRESS

ON THE SPOTLIGHT

Redefining Hospitality Experience: The Rise of Service Apartments in Kenya

The growth of the real estate industry in Kenya has indeed been tremendous for the last 20 years since the concept got traction in Kenya. However, despite the growth, some segments within the industry have experienced immense activity to the point of experiencing a glut. In this respect, investors are now looking into new frontiers within the real estate industry that generate reasonable and sustained income. Service apartments are now the new kid in the investment bloc and are quickly catching up. This month, we look at the rise of serviced apartments and how they are redefining the hospitality experience in Kenya.

DIAMOND RESIDENCES UPDATES


	ť Have a look at the progress we have made on diamond villas

RUBY BEACH HOUSES UPDATES


	ť Have a look at the progress we have made on Ruby Beach Houses

EMERALD CONDOS UPDATES


	ť Have a look at the progress we have made on Emerald Condos

DEVELOPERS NOTE

Serviced apartments are indeed the next frontier of growth and Sultan Palace is excited to be part of this niche market segment. Notably, the serviced apartment user base in Kenyas capital is yet to be fully exploited with potential users unaware of available extended stay options and the benefits of the same. Sultan Palace is currently offering holiday home apartments for sale and be serviced to generate income from the tourists and MICE in the coastal region. Yields on serviced apartments range between 6% and 9% making this a great investment for looking for a steady flow of income in an increasingly competitive real estate market.

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