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Wednesday 23 November 2011

Bubble

I like real estate,like to talk about it too even wierder ask around about it,and this time I just had to ask over the fence.
Not many have noticed but a massive project is underway behind Kenyatta university,a city actually thats complete with office blocks,shopping malls,industrial parks and posed to house over 62000 residents and eveb rumours of a super-stadium.
Dubbed Tatu city ,a brainchild of the vegetable oil executive Vimal shah,former Kenya central bank chief turned preacher Nahashon nyaga and coffee farmer steven mwagiru,the trio who cotrol a consolidated 50% stake in the project rest being in firm hands of Moscow based Renaissance capital,with cost estimation amounting to over 240 billion kenya shillings.
With kenyas housing demand at over 150000 units a year and local contractors only able to provide a fraction of that,your gaze on the viability of this project is as good as mine
Question is,Are we in a housing bubble? And how prepare are the final institutions when it goes burst?

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