NAIROBI, Kenya, Aug 8 – Chinese real estate developer Henbon has launched its latest project, Diamond Bay Suites, in Nairobi’s Westlands, marking its sixth development in the city as housing demand continues to rise.
Henbon Sales Executive Coco Fan said the company has already completed five projects in the capital.
“So far, we have six projects here in Nairobi. Diamond Bay is the sixth one, with five projects already complete,” she said.
The new development features one- and two-bedroom units, with prices starting at Sh8.8 million, depending on floor size.
Henbon says it is targeting high-demand neighborhoods such as Kileleshwa and Westlands, areas that continue to attract both local buyers and investors.
Kenya’s expanding middle class is driving demand for affordable yet modern housing, fueling growth in the real estate sector.
According to analysts, rental yields in prime areas like Westlands are projected to edge upward in 2025, while mortgage uptake is rising as banks roll out more flexible and affordable financing options.
The country faces a housing deficit of about 200,000 units annually, a shortfall that has grown to more than 2 million units since the launch of Vision 2030 in 2008.
“Mortgage activity is improving; more people are taking out mortgages, and cheaper mortgage options are becoming available. This means more Kenyans can own homes,” Fan said, adding that Westlands’ location offers both rental income potential and long-term capital growth opportunities for investors.
Experts predict the sector will increasingly lean toward mixed-use developments and apartment complexes designed for middle- and lower-income households.
With urbanization accelerating, developers face the challenge of meeting demand while balancing affordability. Henbon says it seeks to target young professionals and middle-income earners in a market long defined by limited supply and high costs.
