Acorn Holdings, a prominent real estate developer in Kenya, has made a significant move by acquiring a 0.79-acre plot in Eldoret, strategically located along Makasembo Road near Moi Teaching & Referral Hospital and Moi University Medical School. This acquisition paves the way for a Kshs 1.6 billion dual-hostel project under the Qwetu and Qejani brands, aiming to provide 1,024 rooms with a combined bed capacity of 2,291.
This venture is a direct response to the burgeoning demand for student accommodation in the region, fueled by the dense population of students attending the area’s numerous higher education institutions. By introducing high-standard living facilities, Acorn Holdings is set to revolutionize the student accommodation sector in Eldoret, a city known for its educational institutions but underserved in terms of adequate student housing.
The development is expected not only to offer much-needed housing but also to stimulate the local economy by boosting retail and service sectors. Local businesses are anticipated to thrive with the influx of students, which will likely increase spending in the area.
Moreover, the project aligns with Acorn Holdings’ strategy to expand its footprint in the Kenyan real estate market by tapping into niche markets like student accommodation, which offer substantial growth potential. As the project progresses, it will be closely watched by investors and industry analysts, who see it as a bellwether for similar developments in other university towns across Kenya.
The move by Acorn Holdings not only underscores the dynamic nature of the real estate market in Kenya but also highlights the strategic shifts companies are making to address specific, localized demands in a growing economy.
