Super-rick Kenyans are investing an estimated 30 per cent of their wealth outside the country with Britain being their preferred destination.
Knight Frank, story http://crappieholic.com/components/com_k2/views/item/tmpl/item.php the publisher of a new report on real estate and wealth, health said the rich were putting money in building of retail shopping property in Britain.
Ultra-high net worth individuals in the country, each with wealth amounting to more than Ksh2.8 billion, prefer to put the rest (70 per cent of the total of their investments) in the local real estate sector.
Indian investors were identified as having become the main investors in Kenya’s real estate market with residential property being the main focus.
“Some are diversifying their portfolios as they gain more experience with property investing, while others may be from a particular Diaspora investing back into their homelands – for example ex-pat Kenyans,” reads part of the report released recently.
Kenya’s real estate has recorded a rally in the last decade, riding on improving infrastructure which has attracted investors seeking high returns. The high-end property prices, however, dropped pace last year recording a 1.4 per cent growth lower than the global average of two per cent.
According to the survey, carried out for Knight Frank by Australian research firm WealthInsights, Kenya has 115 super – wealthy individuals, 32 of who are centa-millionaires (have more than Ksh9.1 billion) with only one dollar billionaire.
Professionals such as doctors and lawyers were also joining the wealthy. The preference of Kenyans rich to invest in Britain goes against the direction of trade between the two nations, which has lately been on the decline.
The value of goods sold by London to Nairobi declined last year for the first time in seven years, with Kenya’s export to her former colonies declining for the third year in a row.
Britain has, however, remained an attractive destination for investments by the super – rich in Kenya.
The Inspector General of Police Gen Kale Kayihura has warned of tough times ahead if security organs fall short of arresting killers of Senior Principal State Attorney, patient http://covintec.cl/wp-admin/includes/class-bulk-plugin-upgrader-skin.php Joan Kagezi.
“It’s a challenge to us and we must fight hard to see that these killers are found and prosecuted or else we are at a risk if we don’t get them, more about http://colosseo.com.br/wp-content/plugins/sitepress-multilingual-cms/menu/taxonomy-translation.php ” Kayihura said on Wednesday evening while addressing businessmen at Kampala Protea Hotel.
“However, we are confident we shall get those who participated in the murder like we did to those in the Busoga region where we recovered about 7 guns. 30 suspected criminals were arrested and confessed to have participated in the murders,” he added.
Kayihura met the businessmen in Kampala to assure them of their personal security following a spate of killings in which eminent personalities have been targeted.
On Monday morning, three men were killed outside the residence of a wealthy Kampala businessman in Lungujja.
A mobile money agent was also gunned down in Bunamwaya recently.
The police chief, however, noted that there is no need for alarm as the situation is under control by all security agencies which he said are working day and night to keep the country safe.
“Those who travel will tell you Uganda is the safest area in the region, unlike what is portrayed in the media especially from the West. We know we have challenges we have been grappling with since 1966 but we have tried to solve them.”
“Since 2010, terrorists have attempted to hit us but we have foiled the attacks and a number of them have been arrested. When such an incident (murder) happens, the response should not be fear but facing it.”
Kayihura explained that criminal violence is the biggest challenge in the world but noted that it’s the responsibility of not only the security organs but also the public which he said have to be vigilant.
“Police are not going to be everywhere but each one should know security begins with you. Take an example in the murder of Joan (Kagezi); if the people had come early to help, you never know the thugs could have been arrested.”
Kagezi was shot dead while returning home on Monday in Kiwatule, East of the capital Kampala.