Scaling up green housing solutions for the East African mass market
Sustainability is having a big impact on the way buildings are designed, built, and used in Kenya and throughout East Africa. On some of the key drivers of this shift and strategies to scale up green housing solutions for the east African mass market, CNBC Africa is joined by Shiv Arora, CEO, Superior Homes Kenya.
Wed, 03 Jul 2024 15:07:44 GMT
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AI Generated Summary
- Sustainable building practices, including solar energy and water recycling, are driving the transformation of the real estate sector in East Africa.
- Developers are embracing sustainability for environmental benefits, cost efficiency, and higher property values, supported by institutional financing and investor interest.
- Challenges to widespread adoption of sustainable practices include supplier selection, construction costs, and the need for improved access to information and training.
The real estate sector in Kenya and throughout East Africa is undergoing a significant transformation towards more environmentally friendly, socially responsible, and economically beneficial practices. This shift is being primarily driven by the adoption of sustainable building practices, which include solar energy, water recycling, waste management, and community development initiatives. Shiv Arora, CEO of Superior Homes Kenya, highlighted some of the key drivers behind this shift in a recent interview with CNBC Africa. According to Arora, sustainability in real estate goes beyond just implementing green technologies; it also involves better regulations, governance, and community engagement. Developers, including Superior Homes, are increasingly embracing sustainable practices not only for environmental benefits but also for cost efficiency and higher property values. The availability of institutional financing and growing interest from investors further support this trend towards sustainability. Despite the progress made, there are challenges to widespread adoption of sustainable practices in the region, particularly in supplier selection and construction costs. Historically, sourcing quality sustainable products was difficult, and the perception that sustainable construction was expensive deterred developers. However, Arora noted that the landscape has evolved, with more suppliers offering green solutions at competitive prices. Additionally, improved access to information and simplified technical training have made it easier for industry players to incorporate sustainable practices into their projects. Looking ahead, the role of government incentives, community involvement, and technological advancements will be crucial in furthering sustainable development in the East African real estate market. By addressing these challenges and leveraging opportunities, the industry can continue its progress towards a greener and more resilient future.
