In my formative years, one of my mentors was the late Joseph Goldberger, the owner of Continental Developers, a company that held sway over the expansive former Donholm estate, spanning about 3,000 acres of prime land.
A man of Jewish descent, Goldberger often cracked jokes about money, imparting a universal truth that money costs money. Under his guidance, I learned the practical intricacies of real estate development, and he ingrained in me the mantra that property values are determined by three things, location, location and location.
Recently, there has been a notable surge, or as some have coined it, an emigration, of high-profile political and business figures to Karen, Nairobi. This prompts a question: Why has Karen become the magnet for the new power elite in Kenya?
To understand this phenomenon, one must delve into the intricate relationship between the leader of a country and the location they choose to reside in, especially in a third-world context where power is often concentrated in the hands of the President or the presidential office. The actions of the President significantly influence the behavior of the rest of the country.
Looking back at history, during Jomo Kenyatta's era, the President chose to live on his property in Ishaweri, approximately 40 km from Nairobi. This decision set the tone for the elite of that time, who followed suit by acquiring ranches, tea and coffee farms, and settling in their respective estates.
The pattern continued with subsequent figures like Daniel arap Moi, whose presence in Kabarak or Eldoret influenced a migration of the powerful to Nakuru or Eldoret every weekend with the appreciation of property prices in those towns.
Inherent benefits
Fast forward to the present administration, and it is clear that almost every influential figure has set their sights on Karen. The President, Deputy President, and Speaker of the National Assembly, among others, have made Karen their home. This migration is driven by the advantage of available space in Karen, offering vast properties for acquisition.
Being close to power has its inherent benefits. Individuals move near power to be in proximity to the President or those close to the President, creating a multiplier effect on the court of the king. Karen, with its allure and expansive properties, becomes the ideal destination for the power elite.
The dynamics of property values often hinged on location, are playing out vividly in Karen. The draw is not just about being near the President or Deputy President directly but also about having business connections with those who hold sway in these influential circles.
While the concept of a special place is often subjective, the tangible aspect of power is undeniable. Karen, with its current prominence, is poised to be the residence of choice for the power elite throughout the lifetime of this administration.
As the landscape of influence continues to shift, Karen stands as the new epicenter for those seeking proximity to power in Kenya.
Mr Njora is a lawyer and an expert in property law. [email protected]
Stay informed. Subscribe to our newsletter