Here is some good news from Nairobi to all East African Community citizens: Anyone from this Region can now own property in Kenya, as long as they have an identity card from their respective country.
This decision by the region’s leading economic power-house was officially announced by President Uhuru Kenyatta, during his inauguration ceremony that was witnessed by amongst other African heads of state, Yoweri Museveni of Uganda and Paul Kagame of Rwanda.
Kenyatta noted that as a mark of Kenya’s continued commitment to the East African Community’s, all East African citizens would henceforth be treated like Kenyans. “Like your Kenyan brothers and sisters, you will need only your identity card. You can now work, do business; own property, farm and if you wish, and find a willing partner, you can marry and settle in Kenya,” said President Kenyatta.
In his inauguration speech,the Kenyan President noted that this commitment has been made with no conditions for reciprocity but driven by Kenya’s desire for deeper regional integration. He added: “As l welcome you l remind you that equally you shall be subject to the same rules and laws as your Kenyan brothers and sisters.”
According to Optiven Group CEO George Wachiuri, this new Kenyan move will certainly be a game changer for real estate market. “We foresee demand for properties going up as the target market will move from 49 million people to almost 200 million East African people,” Say Mr. Wachiuri.
He points out that the prices may equally go up and that the current shortage of affordable properties in Kenya will triple. “This is an opportunity for developers who will have a field day in creating wealth,” he says.
Ultimately, this new Kenyan move will be a true economic stimulant. Mr Wachiuri notes: “The country’s economy will benefit from inflows from the East African Community and Kenya’s GDP will definitely rise.”
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