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    In tandem to Decongest the city of Nairobi in a bid to enable it to suit a Saleable Confluence as away to improve Foreign Direct Invest (FDI), Youth are exhorted to Subsidize in Real Estate

    Posted On 30 Nov 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 18

    By Abdul Rahman Bangura–

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone – Real Estate firm , United Investment Property, announced several young people have been excluded in the line of land investment primarily due to the unaffordability nature of properties within the city. Patrick Malika – the company’s Chief Executive Officer announced, there is a necessity for the youth capitalized in taking charge of ventures in their nation.

    “The young people have been sidelined in the line of investment when it comes to land. In the suburbs, it is too expensive for the youth to have a chunk,” Malika let out during its 8th edition of Title Deed Issuance ceremony. He explained, the longing for real estate in terms of land has remained strong among older generations.

    “Our grandparents invested in this city in the 1970s but now it’s quite expensive to even stay in the city. Let’s decongest the city for it to be more of a commercial hub to host the foreigners. Like right now, we can’t host the World cup due to a lack of enough bed capacity. It’s about time we open the rural areas,” Malika meant.

    Real estate sectors namely, residential, office, retail, and hospitality particularly were hit by lockdown measures and diminishing disposable income by a majority of Kenyans, hence affecting disposable incomes. Irrespective of the wave of the Novel Coronavirus (COVID–19) pandemic that has haggled a gust to the financial sector, it has dissemble
    as a wake–up call to investors in terms of acquiring their own priorities.

    The CEO noted that, there has been an inflow of investors taking up investment opportunities in real estate.

    “It has been a call to remember that it is not possible to continue renting and the status quo will remain. When salary cuts and loss of jobs were rife, it was a wake–up call for many,” Malika noted.

    The UIP CEO however suggested that, without the advancement of infrastructure and progress in the devolution sector then the real estate sector will not achieve growth.

    “We have the Standard Gauge Railway that is now working, and we are looking into the government to invest more in infrastructure through electric railway. This will enable Kenyans to stay in their homes and commute to the city to work,” said Malika.

     

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    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    18 Comments

    1. Yusuff November 30, 2021 at 8:04 pm Reply

      Thank you for the daily reports and for covering our great Continent. Love reading your online newspaper’s report. Casablanca Morocco. Yusuff

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:34 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Paul November 30, 2021 at 8:07 pm Reply

      Thank you for the report. Our governments and law makers all over Africa should all pass laws that say foreigners cannot own land. This would protect current and future generations. However, some of our governments did passed does laws. Let’s make it all over Africa. Paul

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:34 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Samuel November 30, 2021 at 8:10 pm Reply

      Foreigners buying lands even for investment should not be allowed. Lusaka in Zambia. Samuel

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:34 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Henry November 30, 2021 at 8:11 pm Reply

      Thank you for the daily newsletters. Like reading your reports. Lisbon in Portugal. Henry

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:33 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Oba November 30, 2021 at 8:13 pm Reply

      Land reform laws should be pass. Thank you for your reports. Abuja in Nigeria. Oba

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:33 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Lisa November 30, 2021 at 8:16 pm Reply

      Good job to the governments and law makers in Africa that passed good land laws that forbid foreign land acquisition. Cape town in South Africa. Lisa

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:33 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Palo November 30, 2021 at 8:17 pm Reply

      Love the reports. Thank you. Luanda in Angola. Palo

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:33 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    8. Dani November 30, 2021 at 8:19 pm Reply

      Our youths in Africa should all have land to farm, live or business. Big and beautiful Continent. Berlin in Germany. Dani

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:33 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    9. Charles November 30, 2021 at 8:32 pm Reply

      Love my unlimited access membership to your online newspaper. Thank you. London, England. Charles

      • New Africa Business News, Staff Correspondent November 30, 2021 at 8:32 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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