- A developer from Kenya has introduced Rafi Studios, a multi-million-dollar housing initiative featuring more than 300 fully equipped units close to JKUAT.
- A developer recognized a chance to fulfill the need for quality housing outside the campus, as the university accommodates more than 32,000 students.
- The creator was motivated to start the project as a result of personal encounters with challenges related to student housing.
Elijah Ntongai, a journalist with .co.ke, brings more than four years of expertise in analyzing and reporting on financial, business, and technological developments, offering perspectives on Kenyan, African, and international trends.
Access to quality housing remains a significant issue in Kenya’s cities.
This has opened up commercial prospects for developers and investors, especially in relation to fulfilling the need for accommodation within higher education establishments.
A developer has launched a multi-million shilling housing initiative aimed at thousands of students from Jomo Kenyatta University of Science and Technology.
While touring the housing units, Rafi Studios, Paul Karanja from Gimco mentioned to .co.ke that the project includes more than 300 units and is located in a prime area to address the increasing need for high-quality, budget-friendly student housing.
The developer of the project stated that their inspiration came from a personal encounter with housing difficulties during their studies.
Is there a lack of available student accommodation?
There is a high need for student accommodation in Juja and nearby regions, mainly because of JKUAT’s large enrollment of more than 32,000 students.
Karanja stated that the university currently houses approximately 2,700 students in its own dormitories, leading to significant pressure for accommodation options beyond the campus.
Over 6,800 new students were assigned to JKUAT via the Kenya Universities and Colleges Central Placement Service (KUCCPS) in 2025 alone, increasing the demand for private housing. This scarcity leads to a continuous need for housing outside the campus, making Rafi Studios a timely and beneficial addition to the housing sector,” Karanja noted.
Acknowledging the lack of appropriate housing near JKUAT, the developer aimed to address the issue by introducing fully equipped units for purchase by investors, offering students nearby and accessible living options.
The residential units are situated in Juja, just a five-minute walk away from JKUAT. The studios come in various sizes to meet the unique requirements of the varied population.
Karanja mentioned that there are studios with a single bed, studios with two beds, and one-bedroom apartments, all of which come with basic amenities such as comfortable beds, study desks, wardrobes, and seating.
The design prioritizes student comfort, featuring shared facilities like study spaces, relaxation areas, and a guest check-in zone.
What makes this a chance to invest?
As per Karanja, Rafi Studios offers a financial opportunity for local and overseas investors aiming to earn revenue through the real estate market.
The developer informed .co.ke that the residential units are available for purchase by investors looking to acquire the properties and lease them out.
The developer expects annual rental incomes of KSh 288,000 for single-bedroom studios, KSh 360,000 for twin-bedroom studios, and KSh 540,000 for one-bedroom units.
As per the developer, a one-bedroom studio (25 sqm) and a two-bedroom studio (25 sqm) are priced at KSh 2.4 million, while one-bedroom apartments (45 sqm) are set at KSh 4.2 million.
Karanja mentioned that the project presents chances for parents searching for safe housing for their kids, Kenyan expatriates seeking passive earnings, and new property buyers looking for cost-effective, easy-to-manage investments.
Is there a profitable venture in student housing?
Meanwhile, Kenya’s large number of students has led to substantial investment in dedicated student housing.
In recent years, billionaire Edward Kirathe has become a significant figure in the industry via Acorn Investment Management Limited, the company responsible for Qwetu and Qejani residences.
Under Kirathe’s leadership, with him being the biggest individual shareholder holding 30.24% of the shares, Acorn achieved a net profit of KSh 855 million in 2022 through its student dormitory operations, catering to more than 4,300 students.
Notable initiatives include Qwetu Hurlingham (832 beds), Qwetu Aberdares Heights II (601 beds), Qwetu Karen (542 beds), and Qejani Karen (808 beds).
These investments indicate not only increasing profitability in student housing but also highlight wider patterns of real estate diversification within a thriving young population and expanding educational enrollment.
