Developer to set up Sh5bn hostels

Property developer Student Factory Africa is set to put up a Sh5 billion residence in Karen Nairobi over the next two years.

The firm has partnered with Kenya Conference of Catholic Bishops to launch the 4,500 bed student hostels at Catholic University.

Student Factory’s CEO Christopher Osore said planning the partnership would now embark on construction after successful planning.

“The partners are investing in a brand-new student hostel in Karen which will consist of 10 five- storey buildings providing a total 4,500 beds in different room typologies,” Mr Osore said.

Student housing has gained traction in Kenya in recent years with attractive returns and a captive market.

According to the Ministry of Education, available student housing in Kenya stands at 300,000 against a university enrolment of 520,900 as at 2018, excluding technical colleges.

The majority of available private student housing stock lacks in quality and amenities that are expected of student accommodation.

Student Factory is tapping into the demand for student accommodation with affordable units and additional amenities such as gyms, a large café, well-appointed study areas and chapel to cater to their spiritual needs.

It joins other large-scale student accommodation specialists such as Acorn Holdings which is developing several properties in Nairobi.