Over the past years, the Coastal region has been shunned by investors due to security concerns. The Coastal region has been the target of several terrorist attacks from the outlawed Al-Shabaab militia as well as from the Mombasa Republican Council.
A wave of change is now sweeping with investors now more than ever shifting their bases to the Coast and are now heavily investing there. The real estate business has taken center stage in luring investors with such real estate giants like Cytonn Investments injecting as much as five billion shillings in the real estate business.
The move is also a clear sign that security is no longer a hindrance to developmental projects as people are now shifting their areas of residence from the heavily populated Nairobi to the coastal region.
The land policies that are being put in place by the government and also the issuance of title deeds to genuine land owners has acted as an effective attraction to investors as landowners continue disposing of their land to those willing to develop it.
Many investors also believe that the Coast is still a strategic tourist destination for the world as well as for Africa and the fact that it is a tourism destination means that there is a leeway for the middle class to grow. There will surely be increased demand for housing at the Coast.
Areas like Mtwapa have now become new destinations for luxurious development projects due to the relative calm in terms of security and proximity to the beach.