Same size, same floor, same view — one trades at KES 15M, the other at KES 22M. The difference is the brand standing behind it. A conservative read for buyers focused on yield: numbers cited, sources named, no projected return without a published benchmark behind it.
The investment case for Nairobi
East Africa's largest economy, the UN's African seat, and a residential market where prime yields still outperform most global capitals.
Westlands delivers prime residential rental yields of 6.5–8.8% on apartments, with serviced units reaching 8.7% — outperforming Nairobi's market average of 5.6% and prime yields in most global capital cities.¹ Capital appreciation in the corridor has tracked 5–8% annually, with recent Cytonn data citing 16.3% appreciation contributing to a total return of 23.9% in standout periods.¹
Kenya is East Africa's largest economy — roughly 40% of the EAC's combined GDP, growing 4.6% in 2025 against 4.7% the year before.²,⁴ Within Kenya, Nairobi County alone contributes about 27.5% of national GDP and concentrates the country's financial, diplomatic, and transport infrastructure.² Eighty percent of East African trade flows through Mombasa Port, on Nairobi's logistics axis.²
Nairobi is the only UN headquarters city in the Global South. The Secretary-General has confirmed at least three agency headquarters — UNICEF, UNFPA, and UN Women — relocating to Nairobi by end-2026.⁵ The General Assembly has approved nearly US$340 million of construction at the UN Office at Nairobi, the largest UN Secretariat investment in Africa to date.⁵ Diplomatic, NGO, and multilateral demand sits structurally above local supply for prime residential.
Kenyan diaspora remittances reached a record US$5.04 billion in 2025, surpassing tea, coffee, and tourism combined as the country's largest source of foreign exchange.³ The Central Bank projects US$5.24 billion in 2026.³ Real estate consistently ranks as the leading investment use of these inflows, with prime Nairobi residential a primary destination.
Article 65 of the 2010 Constitution permits non-citizens to hold land on leasehold tenure for up to 99 years.⁶ Title is registered, transferable, mortgageable, and inheritable. The framework is uniform, codified, and consistently applied — no special-purpose vehicles required, no jurisdictional grey zones, no quota schemes. We can introduce counsel for the conveyancing if useful.
Kenya's Vision 2030 framework is mid-execution. The Nairobi Expressway has been operating since 2022 and runs directly past the Westlands corridor. The Mombasa–Nairobi Standard Gauge Railway is operational and extending to Naivasha, with funded onward sections to Kisumu and Malaba.⁷ The 440-km Nairobi–Mombasa Usahihi Expressway, a US$3.5 billion PPP, is scheduled to begin construction in 2026 and will compress the coastal journey to four-and-a-half hours.⁷
THE PLOT · WESTLANDS, NAIROBI
Six minutes from the UN's African seat. Twelve from the CBD. A neighbourhood that has been Nairobi's quiet centre of professional life for thirty years.
Drive times stated off-peak from the plot, sourced from public routing data, December 2025. Indicative.
The macro frame
Westlands is Nairobi's diplomatic-and-commercial core. UN, Gigiri, Sarit, Westgate, ABC Place all walkable. Premium-rental demand here is not speculative — it is established and growing.
Plot sizes in Raptor Road and the surrounding lanes constrain the rate at which premium vertical residential can be added. New stock is rare; well-built new stock is rarer.
IFC benchmarks across Sub-Saharan Africa indicate EDGE-certified premium units command a 5–15% rental premium versus comparable conventional stock, with shorter time-to-lease in the same cycle. Source: IFC EDGE Market Reports, Sub-Saharan Africa.
≥ 40% energy · ≥ 35% water · ≥ 25% embodied-carbon reduction versus EDGE baseline. Audited by GEcon Africa.
Sub-Saharan Africa benchmark for EDGE-certified premium rental units (IFC).
Held by Stanmore Trust Kenya Limited (CMA-licensed). 10% reservation · 20% excavation · 30% structure-to-roof · 40% practical completion.
The first question we receive from diaspora buyers is almost always the same: how do I know the building will be delivered to the standard I am paying for, when I cannot walk the site myself?
Our answer is structural, not anecdotal. Buyer deposits are held by Stanmore Trust Kenya Limited, a CMA-licensed escrow trustee. Each payment milestone is signed off by Knight Mwangi Quantity Surveyors before any draw is released. SPV accounts are audited annually by Bowman Adair Kenya. We publish a monthly construction log signed by Joseph K. Otieno, MICE — Site Engineer. We host quarterly video calls with Lars-Henrik Mortensen, our Principal Architect, walking the site live for reservers. And the building is operated post-handover by Westgate Living Management under a 10-year SLA with a 24h critical / 7d non-critical response matrix.
Diplomatic and UN postings turn over every three to five years. The Dagaz is structured for that rhythm: an EDGE-grade rental premium that protects yield in a softer cycle, a named property-management partner ready to operate the residence in your absence, and a 24-month defects warranty post-handover that covers your second tenancy as much as your first.
In context
A short, honest comparison. Not advice — a frame for the conversation.
Liquid, but eroded by KES inflation and FX drift. No yield meaningful enough to compound. A defensive position, not a growth one.
Hedge value in a stronger currency, but management distance is the same problem in reverse. Tenancy oversight, tax filings, and capital controls cost yield each year.
Liquidity and diversification, but no claim on a specific asset. Dividends track a portfolio you do not select; capital appreciation tracks the listing, not the building.
A specific, identifiable asset on a constrained-supply Westlands plot, bought on an escrow-protected plan, with EDGE-grade rental premium, a named operator, and a published construction record from foundation to handover.
Pricing bands
Final pricing per residence is issued in the reservation letter and held in escrow with Stanmore Trust Kenya Limited.
Capital structure
Equity capital structure for The Dagaz SPV is advised by Ström Partners (Copenhagen). Project structured debt-free at acquisition through to handover; senior debt would require investor approval if introduced.
The lead institutional equity participant in the SPV will be named in writing to all reservers at first investor close, alongside the executed subscription agreement. We do not pre-announce the relationship.
A 14-storey residence on a Lavington plot — site under contract, design in development. Reservations open after The Dagaz topping-out.
A Karen plot under preliminary review for a low-rise residential cluster. Site search and feasibility ongoing; no commitment yet.
A note on returns
Of the five factors buyers require before purchasing a premium residence, three are directly about the developer — reputation, track record, and quality management. Three of the five rejection reasons are also about the developer. This is not a branding exercise. It is the core buying decision dressed in different language. We do not publish projected internal rates of return on this site. Returns vary by typology, by floor, by macro environment, and by the buyer’s holding period. Sensitised return models — including downside scenarios — are shared in writing only after a conversation with a sales gallery director, and accompanied by the sources for every benchmark we cite.
TWO JOURNEYS · ONE BUILDING
Everything else is in the answers below.
| Dimension | Local buyer | International buyer |
|---|---|---|
| Title type | Local buyerSectional title under the Sectional Properties Act 2020 | International buyerSectional title under the Sectional Properties Act 2020 — held on a 99-year leasehold |
| Settlement currency | Local buyerKES | International buyerUSD / EUR / GBP / AED reference, settled into KES on the contract date |
| Stamp duty | Local buyer4 % on transfer | International buyer4 % on transfer |
| Rental tax | Local buyer7.5 % MRI on gross rent (resident landlords with annual rent under 15 M) | International buyer30 % WHT under Section 35 of the Income Tax Act, deducted at source by the management agent — DTAA reduces for treaty buyers |
| Residency benefit | Local buyer— | International buyerNone. Kenya does not link property ownership to a residence permit. Visa categories are decided independently by Immigration. |
RESERVE · THE DAGAZ
Two answers to every question — for those buying from Nairobi, and for those buying from abroad.
Kenyan citizens, registered Kenyan companies, and holders of valid Kenyan resident permits. Limited liability companies provide a certificate of incorporation, a KRA PIN, and a board resolution authorising the purchase. Couples may purchase as joint tenants or tenants in common — the form is noted at reservation.
Five percent on reservation. A further twenty percent on signing the Sale Agreement, within twenty-one days. Construction draws against milestones independently certified by Knight Mwangi Quantity Surveyors. Twenty-five percent on handover. The full schedule is included in the spec sheet for each residence type.
Every instalment lands in a project escrow held by Stanmore Trust Kenya Limited. Disbursement is gated to quantity-surveyor-certified milestones, not calendar dates. Construction risk is insured under Riverside Indemnity Kenya. Project accounts are audited by Bowman Adair Kenya at sign-off.
Stamp duty of four percent on the transfer value, payable to the Kenya Revenue Authority. Land registry fees on title issuance. Legal fees on the scale set by the Advocates Remuneration Order. A one-time service charge advance on handover, banded by residence type. Figures current as of 2026 — confirm with your tax advisor before contract.
Pre-arranged facilities with three Kenyan lenders, on terms reviewed annually. Indicative bands: up to eighty percent loan-to-value for an owner-occupied residence; up to sixty percent for buy-to-let. Final terms are set by the lender on their own credit criteria — we make the introduction; we are not the broker.
The Westlands prime apartment band over the past three years has run six-and-a-half to eight-and-a-half percent net of service charge for two- and three-bedroom residences. Penthouse yields run lower on a percentage basis but stronger on absolute net rent. Each band will be re-confirmed by an independent valuer audited at sign-off.
Westgate Living Management, under a ten-year service-level agreement. Their scope covers letting, tenant placement, routine maintenance, the common-area capital plan, and a monthly owner statement. Service-charge bands are capped under the SLA.
Practical completion is targeted for Q2 2029. The construction log at /projects/the-dagaz/construction is updated weekly by Joseph K. Otieno, MICE — site engineer of record. Each entry carries the photograph, milestone, and quantity-surveyor sign-off for that week.
Yes. Apartments at The Dagaz are sold on a ninety-nine-year leasehold basis under the Sectional Properties Act 2020 — the canonical title for apartment ownership in Kenya. The lease is registrable in the Lands Registry, transferable on resale, and inheritable.
Headline pricing is set in Kenyan Shillings. We accept settlement reference in USD, EUR, GBP, or AED at the spot rate on the contract date. Funds clear into the project escrow held by Stanmore Trust Kenya Limited; conversion is recorded against the agreed reference rate.
Kenya does not impose currency controls on bona fide property transactions. Capital on resale is repatriable. Rental income is repatriable after Kenyan tax. Westgate Living Management settles monthly net rent in your nominated foreign currency at the spot rate on payment date.
Stamp duty of four percent on transfer. Withholding tax on rental income paid to a non-resident landlord — thirty percent of gross rent under Section 35 of the Income Tax Act, deducted at source by the management agent and remitted to the Kenya Revenue Authority. Reduced rates can apply where Kenya holds a Double Taxation Avoidance Agreement with your country of residence. Capital gains tax of fifteen percent on disposal gain. Figures current as of 2026 — confirm with your tax advisor before contract.
A registered leasehold certificate issued by the Lands Registry, in your name or in the name of a holding entity you nominate. Sectional title plans for the building are filed and registered before handover. Original title travels with the legal pack; we hold a certified copy.
No. Kenya does not link property ownership to a residence permit. Visa categories such as the Investor Permit (Class G) or the Retiree Permit (Class K) are decided by the Department of Immigration on their own criteria, independent of any property transaction. We do not advise on immigration matters.
Westgate Living Management, under the building-wide ten-year SLA, handles letting, tenant placement, maintenance, and monthly statements in your nominated currency. Their absentee-owner desk is the single point of contact for international owners.
Optionally. We do not offer foreign-exchange services in-house. Buyers who want a structured hedge against KES exposure across the construction draw schedule are introduced to Ström Partners — our named capital-advisory partner — who can quote the instrument on its own terms.
A clear copy of your passport, a proof of address dated within ninety days, and a Kenya Revenue Authority PIN. We assist with the KRA PIN application — it is required by law for any property transaction in Kenya and takes around five working days.
Tax rates and statutory references stated as current of 2026. The Dagaz reservation pack carries the contractual statement of fees, taxes, and protections. Buyers should take independent tax and legal advice in their own jurisdiction before signing.
Still asking? Speak to our reservations desk
Video or in-person. We bring the model and the sources; you bring the questions.