Foreign Investment in Mombasa
Article: most common areas in Mombasa, Kenya for foreign investment.
A favorite and a major foreign investment destination especially in the real-estate market, Mombasa hosts substantial number of foreigners from Asia, Europe, United States and even from Australia. So, where in Mombasa do these expatriates or foreigners live?
Mombasa has established its name as a cultural port town that has been able to withstand numerous invasions and occupations by foreigners from overseas countries. The city’s diverse tourist attractions include coral reefs and islands, sandy beaches, historical monuments, variety of wildlife and conducive tropical climate, which have attracted both local and foreign investors in various sectors of the economy.
Mombasa’s Little Europe, Mtwapa
If you want to go to Europe, you do not need to spend a fortune doing so. Simply take a ride to Mtwapa, situated less than 16km north east of the city.
- An old, vibrant and busy town, Mtwapa comfortably operates on a 24-hour economy and it is the fastest growing real estate-market in Mombasa.
- Originally occupied by native community, Mtwapa obtained its name from the locals who referred to themselves as ‘mtu wa hapa’ meaning ‘someone from here’ with the aim of segregating outsiders. This is no longer the case given that Mtwapa has become a confluence of local and international cultures.
- Mtwapa is popularly known as Little Europe owing to the significant number of Italians, Germans and Britons who have literally kicked out the natives (who can no longer afford the rising cost of living in the town).
- Mtwapa is proving an ideal investment location especially in the property market with an acre of land costing between Ksh16 million – 18million.
Mtwapa has it all, from modern entertainment spots, 4-5 start hotels, complex buildings and wildlife sanctuaries to archeological relics, a beach, religious buildings and thoroughfare to the Indian Ocean, which make for good returns on investments
- Mtwapa has not gone unscathed with the locals lamenting the erosion of social and cultural ideals as prostitution, gay affairs and stripper clubs becomes a norm in the town.
Mombasa’s Asian/Arab Town
Asians and Arabs have occupied Mombasa city since pre-modern times when they came to the city to trade their goods and services for gold, ivory and spices. Many of them opted to reside in the port town becoming part of the city.
- Old Town, situated southeast of the island, is Mombasa’s Asian/Arab town hosting majority of people with Asian and Arab origins.
- The residence of Asians and Arabs here can be understood since the area has numerous structures, street arrays and building designs, architecture and character that is distinctly Asian and Arabic and they would naturally feel at home away from home.
- Interestingly, there are several temples and mosques here to meet the population’s religious needs
Mombasa’s Town Of The Wealthy
Predominantly occupied by well-to-do foreigners and the ‘who’s who’ in Mombasa’s social and business circles (celebrities, businessmen and politicians), Nyali is the city’s town of the wealthy.
- Located less than 20 minutes north of the city center, Nyali has the best in terms of infrastructure.
- Sloping into the Indian Ocean and home to numerous high-end resorts and hotels, such as Sarova White & Sands and Intercontiental Hotel, etc., residential villas and commercial facilities, Nyali is perhaps the most costly place to live and even to invest within the city
- Most foreign expatriates working for multinational companies operating in Mombasa reside in Nyali, which helps in enhancing the economic performance and progress of the estate.
- Nyali has the best movie theaters such as the Nyali Cinemax, shopping malls such as City Mall, eateries such as Galitos and coffee houses (such as Java and Dormans).