On 4th June 2024, Tarra Agility Africa partners Marjorie Kivuva, CPA Beatrice Njeri and Kenya Property Developers Association had the honour of presenting our oral submissions to the National Assembly’s Committee on Finance and National Planning on the Finance Bill,
2024.
We highlighted some key concerns in real estate industry advocating for the reconsideration of;
~ The proposal to remove the 15% corporate tax rebate available for residential housing real estate developers and
~ The proposal to remove the restriction on the re -sale of affordable housing units under the Affordable Housing Act, 2024.
We trust the Finance Committee will carefully consider our submissions to incentivise private sector players in the real estate industry who have been instrumental in bridging the gap in the housing sector in Kenya which stands at about 200,000 units annually.
