M a r k e t N e w s

Street lighting and road expansion turn Kisumu estate into business hub

Posted on : Wednesday, 24th August 2016

The expansion of roads and street lighting has breathed new life into Kisumu’s Kondele estate.
As a result, more entrepreneurs have set up retail stores, shopping malls, bars, hotels, and gyms in the area.
Previously feared for insecurity, Kondele is fast turning into an attractive investment hub.
Kenya National Chamber of Commerce and Industry executive member Israel Agina said Kondele’s big population was attracting investors and making the estate Kisumu’s next business frontier.
Kondele is strategically located at the Kisumu-Kakamega and Kisumu-Kibos roads junction.
Recently completed fly-overs connecting the estate with the airport and other facilities have made the area prime for business.
“Kondele also serves as a confluence of six estates; Kenya Re, Migosi, Manyatta, Mambo Leo, Kibos and Riat Hills. Businesses are seeking to attract the huge population,” said Mr Agina.
Improved security, due to street lighting and other factors, is another factor attracting people to the centre.
Supermarkets dealing in fast moving goods have pitched tent in the region. Ukwala Supermarket recently put up one of its biggest stores in the region at the centre, joining Tumaini and Pramukh which have set shop there for over two years.
Pull in more traffic
Nakumatt will soon open its third branch at Lake Basin Mall in Mamboleo, a few metres from Kondele, along the Kisumu Kakamega road. This is expected to pull in more traffic and competition.
READ: New roads ease Kisumu traffic as other cities grapple with jam
The outlets are targeting informal settlements unlike in the past when they concentrated in the central business district.
The circulation of money in the busy centre has attracted banks too. Co-operative Bank now has a branch in Kibuye, another busy centre between Kondele and the central business district. Western Matt supermarket also plans to set up shop in the hub.
Kondele also houses agents of all major banks and is famed for its nightlife, which runs till dawn.
Bars, hotels, nyama choma joints and guest houses spring up virtually daily in the estate.

“The property business has recently been shifting towards the least populated side of Kisumu. One acre of land now goes for at least Sh10 million, up from about Sh6 million two years ago,” said Mr Wycliffe Abok, a Kisumu real estate investor. 

Source : www.businessdailyafrica.com
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