Gazebo Homes Ltd is behind the development of multi-billion shilling apartment blocks in Nairobi. Mohamed Hassan is the founder and CEO of Gazebo Homes, the company behind 9 Oak Residences (l) in Kilimani and Gazebo Apartments (r) under construction in Parklands. Gazebo Homes. TUKO.co.ke sat for an exclusive interview with Mohamed Abdikarim Hassan, the CEO and founder of Gazebo Homes. Biggest challenge for developers He explained that he founded the company after identifying a trust gap, particularly among Kenyans in the diaspora, who had lost money to fraudulent developers and stalled projects.
“Many Kenyans abroad wanted to invest back home but were hesitant due to cases of stalled projects, fraud, and lack of accountability. We saw this gap and decided to build a company that emphasises transparency, quality, and trust for both local and diaspora clients by delivering the promised project on time,” Hassan said. Hassan noted that when he was starting the company, there were many challenges, but the biggest challenge they faced was the lack of trust and scepticism in the property market, something he says is still a big problem in the industry. “The biggest challenge is mistrust. The industry has suffered from stalled projects and fraud, so clients are often skeptical. Overcoming this requires consistency, open communication, and timely delivery,” the CEO said. Does Gazebo Homes get money from investors? Hassan said that the company does not sell ideas or collect investors’ funds to fund its development. Hassan explained that Gazebo Homes fully owns and develops properties before seeking buyers, ensuring credibility and financial security.
“We don’t rely on investor funds to start projects. We fully finance and build our projects, then look for buyers once construction is underway. That way, clients know they are buying into something real,” he said. Hassan further noted that Gazebo Homes secures all land for its projects, and once the houses are developed, buyers are issued with sectional title deeds. “When we develop projects, clients receive sectional titles, which legally recognise ownership of their individual units, parking spaces, and a share of common areas,” he said. These grant the buyers both private ownership of units and shared ownership of common spaces and provide legal clarity. Which properties are owned by Gazebo Homes? Gazebo Homes’ first development was in Kilimani. Hassan noted that the 9 Oak Residences in Kilimani were completed early last year and delivered fully serviced apartments across 14 floors. 9 Oak Residences located along Wood Avenue in Kilimani, Nairobi. Gazebo Homes. He said the apartments were priced between $50,000 (about KSh 6.46 million) for studios and $85,000 (about KSh 10.98 million) for two-bedroom units at the time, and they were all sold out and handed over.
He further noted that the project was valued at around KSh 1 billion. The company embarked on an even bigger development project, the construction of Gazebo Apartments in Parklands, a two-block, 17-storey premium development with 68 units. Hassan told TUKO.co.ke that the company is gearing towards the completion of the units in Parklands, which range from two- to five-bedroom apartments priced between $85,000 (about KSh 10.98 million) and $185,000 (about KSh 23.91 million). An artistic impression of the Gazebo Apartments in Parklands once the development is completed. He noted that the units are almost sold out and revealed that the project will cost almost KSh 3 billion when it’s completed and handed over to the buyers. Looking ahead, the developer plans to launch new projects in Parklands and South C. Mohamed Abdikarim Hassan is the founder and CEO of Gazebo Homes.
He harbours ambitions to expand the 3-year-old company beyond Nairobi into other parts of Kenya and East Africa within the next decade. Is the Kenyan real estate market doing well? The success seen by Gazebo Homes in just three years reflects the broader dynamics in the Kenyan real estate and property markets. Earlier, the Hass Index Special Report showed that real estate returns in Kenya outperformed markets like the US, Canada, South Africa, and the UK in the year leading to June 2025. Kenyan homes delivered the strongest global investment returns among the assessed markets, with a 7.8% capital appreciation and a 13.28% overall return when combined with rental yields. Since 2000, property prices have surged by 425%, far outpacing the US at 201% and Singapore at 122%, a growth attributed to unique market dynamics such as minimal mortgage reliance, rapid urbanisation, expanding middle-class incomes, major infrastructure developments, and strong diaspora investments.
By Elijah Ntongai
