# How Fanaka Real Estate Built a Multimillion-Dollar Business in Kenya in a Decade

> With more than 15,000 land title deeds issued and 25 to 30 percent average annual growth, CEO Moses Muriithi credits an installment-payment model and keeping post-sale logistics in-house rather than outsourcing them.

- Source: African Economy
- Canonical URL: https://africaneconomy.net/article/kenya-fanaka-real-estate-multimillion-dollar-decade
- Author: African Economy Staff
- Section: Trade & Investment
- Published: 2026-10-21T11:45:50.000Z
- Updated: 2026-10-21T11:45:50.000Z
- Tags: Kenya, real estate, Fanaka, entrepreneurship, housing

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Kenyan developer Fanaka Real Estate has grown into a multimillion-dollar business over roughly a decade, averaging 25 to 30 percent annual growth and issuing more than 15,000 land title deeds to individual buyers, according to a report by Forbes Africa. The company has completed around 24 projects in its most recent year, specializing in subdivided residential plots near Nairobi's expanding metropolitan areas at a time when Kenya faces an estimated annual housing shortfall of 250,000 homes.

CEO Moses Muriithi attributed much of the growth to an installment-payment model that lowers the barrier to entry for buyers. "Buyers pay monthly over periods ranging from six to 12 months. We retain the title during the payment period," he said, describing an arrangement that lets the company serve clients who couldn't otherwise afford a lump-sum purchase while limiting its own exposure until payment is complete. Muriithi said the company deliberately keeps post-sale engagement in-house rather than delegating it to third parties, managing logistics and documentation itself, and tracks completed transfers rather than announced projects as its core measure of performance, a distinction that matters in a property market where announced developments don't always get finished.

Client property values have appreciated by as much as 30 percent annually in some of the company's developments, and some repeat investors have moved through as many as 15 separate Fanaka projects over the years, using digital platforms and diaspora outreach to keep expanding its buyer base beyond Kenya's borders. When entering unfamiliar areas, Muriithi said the company prioritizes local partnerships over going in alone, a caution he credits with helping the business avoid the missteps that have tripped up faster-moving competitors in Kenya's property market.

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Originally published by African Economy. Free to cite with attribution and a link to https://africaneconomy.net/article/kenya-fanaka-real-estate-multimillion-dollar-decade.