KTDA Farmers Company, a firm that Kenya Tea Development Agency (KTDA) farmers own, targets to expand its real estate portfolio with a property acquisition in Nairobi or its environs.
The firm says it is eyeing a residential, commercial, or industrial property to maximise returns from the city’s rapidly growing real estate market.
“The company in its endeavour to fulfil its strategic direction and mandate through acquisition of attractive real estate investment seeks to purchase a property in Nairobi City County or its environs,” said KTDA Management Services Limited in a notice.
KTDA Farmers Company was set up in 1996 and has more than 221,000 shareholders.
It owns various real estate properties spread in Nairobi, Mombasa, and Kiambu counties.
Its flagship properties are the KTDA Farmers Building, the KTDA Farmers Warehouse, Palm Valley Apartments, and 10 acres in Ruiru that it holds for resale.
The move to acquire new real estate property comes at a time the sector is recording a boom, especially in Nairobi where investors are building high-rise apartments and shopping malls. Commercial properties such as malls are also coming up in key business hubs targeting the city’s rapidly growing population.
However, Kenya’s real estate has been growing at a slower rate compared to other sectors. According to data from the Kenya National Bureau of Statistics, the real estate sector contributed 8.6 percent of the GDP in 2022 from 9.4 percent in 2018.
