Chinese investors in Kenya’s real estate sector have finally launched their association. The Kenya Chinese Property Developers Association Kenya (KCDA) was launched in Nairobi last week.
According to KCDA President Zhang Jiaping, the association has been established “to act as a bridge to serve society and benefit humanity.” He said his association would promote the healthy development of the real estate industry. “Our mission is to provide better and more sustainable housing products,” he added. He promised that his members would follow all government regulations governing the construction sector.
Nairobi Governor Johnson Sakaja who was present at the occasion noted that there had been cases of collapsing buildings in the capital as well as surrounding areas, attributable to structural problems. “This is often due to unscrupulous developers disengaging the services of key professionals. I know the Chinese are not that kind of developers,” he said.
The Chinese business community has accelerated investments in real estate over the last few years and has been involved in major residential developments in prime areas such as Kilimani.
