KENYA Trends and Developments Contributed by: Lorna Mainnah, Joseph Omwenga, June Lomaria and Herbert Karanja, Dentons Hamilton Harrison & Mathews
AI’s potential to transform Kenya’s real estate industry In Kenya’s dynamic real estate landscape, Arti - ficial Intelligence (AI) presents endless opportu - nities and opens doors to unprecedented pos - sibilities. Property valuation Traditional property valuation involves tedious and time-consuming site visits, data collec - tion and manual data analysis which are often subject to error. AI algorithms can streamline this process by automating data collection and analysing various data points, such as property location, market trends and historical transac - tions, to provide more accurate property valu - ations. Predictive analytics AI-powered predictive analytics can forecast market trends, property demand and pricing fluctuations. This information is valuable for developers, investors and real estate agencies in planning their strategies and investments, which ultimately leads to improved business AI can be utilised for property marketing through AI-powered features such as virtual reality (VR) and augmented reality (AR). VR and AR can be utilised for virtual property tours, which can cater for potential buyers across the globe. This will allow the potential buyers to virtually walk through the properties for sale or lease. Customer service chatbots Real estate companies in Kenya can deploy AI- powered chatbots on their websites and social media platforms to handle customer inquiries and assist with basic transactions. For example, the National Land Information System dubbed outcomes. Marketing
as tall as 75 floors in the Central Business Dis - trict and its environs. This proposal has sparked an uproar and result - ed in objections from at least 26 professional and resident associations in Nairobi. While it attempts to address the city’s increasing housing demand, thereby stimulating economic growth through a surge in construction activities, it may lead to the following risks and challenges by: • putting a strain on existing infrastructure including transportation systems, water sup - ply, sewage, and waste management, thereby aggravating service deficiencies; • causing concerns about energy consumption, carbon emissions, urban heat island effects due to a proliferation of high-rise buildings and skyscrapers; and • resulting in potential breaches of building codes, safety standards, and environmental regulations, exposing the public to health and safety hazards. The County must mitigate the above challenges through the following: • development of new infrastructure; • adoption of sustainable design and green building practices; and • strict enforcement of building codes and regulations. Effective engagement is essential to address stakeholders’ apprehensions and incorporate diverse perspectives into decision-making pro - cesses. The County must also demonstrate transparency, accountability, and responsive - ness in soliciting feedback and addressing con - cerns raised by the stakeholders.
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