Chinese property developer Henbon has unveiled its latest residential project, Diamond Bay Suites, in Nairobi’s Westlands, with a particular focus on young professionals and middle-income earners seeking modern urban living.
The development, which consists of one- and two-bedroom apartments priced from Sh8.8 million, marks the company’s sixth project in the capital. Previous projects are spread across upmarket neighborhoods such as Kileleshwa and Westlands.
Henbon Sales Executive, Coco Fan, said the firm is positioning itself to serve Nairobi’s growing appetite for homeownership.
“So far, we have six projects here in Nairobi. Diamond Bay is the sixth one, with five projects already complete,” she said.
Industry data shows Nairobi’s housing market continues to expand, driven by a rising middle class, increasing urban migration, and more accessible mortgage financing.
Analysts expect rental yields in areas like Westlands to climb modestly in 2025, making such locations attractive for both end-users and investors.
Kenya’s housing deficit remains a pressing challenge. The country faces an annual shortfall of about 200,000 units, with the cumulative gap surpassing 2 million since the launch of Vision 2030 in 2008.
This persistent mismatch between supply and demand has left many young families and professionals priced out of the market.
Fan noted that mortgage uptake is improving as banks offer cheaper and more flexible loan products, a shift that is enabling more Kenyans to transition from renting to ownership.
She added that Westlands’ strategic location offers “both rental income and long-term capital growth opportunities” for buyers.
Real estate experts forecast that mixed-use developments and apartment complexes targeting middle- and lower-income segments will dominate the next phase of Nairobi’s property growth.
Developers are under increasing pressure to deliver affordable units that align with the city’s rapid urbanization and demographic shifts.
With Diamond Bay Suites, Henbon aims to position itself within this competitive space, offering compact yet modern living options for professionals seeking convenience, proximity to the city, and long-term value.