Eastleigh's business sector sees remarkable growth in 2024 with multiple entrants

Eastleigh's business sector sees remarkable growth in 2024 with multiple entrants

The regional business hub saw developments in banking, retail, hospitality, and real estate.

In 2024, Eastleigh witnessed significant economic expansion as hundreds of new businesses entered its growing market.

The area, already renowned for its vibrant trade and entrepreneurial spirit, saw developments in banking, retail, hospitality, and real estate, further cementing its reputation as a key business district in East and Central Africa.

One of last year's standout developments was the growth of new businesses at the BBS Mall. The mall became a focal point for new businesses, attracting ventures from diverse sectors. Several national and international banks, restaurants, shops, and boutiques opened their doors for the first time at the mall, contributing to the district's commercial activity.

Board Chair Barbara Barungi, (C) Kamukunji MP Yusuf Hassan (R) and Ambassador Jabril Ibrahim Abdulle during the opening of Access Bank in Eastleigh on July 24, 2024. (Photo: Ahmed Shafat)

Strengthened financial network

Eastleigh's banking sector saw remarkable growth in 2024, with several banks opening new branches. Among these was I&M Bank, which inaugurated its first branch in Eastleigh at BBS Mall on February 1, 2024. The bank's Chief Executive Officer, Gul Khan, noted Eastleigh’s immense potential, describing it as a hub for small and medium enterprises (SMEs). He highlighted the bank's goal of supporting the district's economic development.

Access Bank also made its debut in Eastleigh in 2024. The branch was launched during a ceremony attended by the bank’s top executives.

Board Chair Barbara Barungi reflected on her long-standing connection with Eastleigh, sharing memories of visiting the area in the 1990s to purchase fabrics. She emphasised Eastleigh’s pivotal role in the region’s commerce, calling it a critical part of East and Central Africa’s business ecosystem.

Other banks that expanded their presence in Eastleigh include Equity Bank, KCB, Cooperative Bank, Premier Bank — which rebranded from First Community Bank — and Gulf Bank. Most of these new branches were established at the BBS Mall.

Eastleigh residents enjoy free lunch at Ajmal Restaurant located at the BBS Mall. (Photo: Abdirahman Khalif)

Restaurants bring culinary diversity

The hospitality industry in Eastleigh grew with the entry of several notable restaurants in 2024.

BBS Mall became home to prominent eateries such as AK's, Ajmal, CJ's, and Kudo Kudo, which quickly gained popularity among residents and visitors.

Outside the mall, RC’s Restaurant opened on 12th Street, offering new dining options in the area.

Hayat Restaurant launched its operations on 11th Street, while Open Face began serving customers on Jam Street. The addition of these establishments enriched Eastleigh’s culinary landscape, catering to a diverse clientele.

Real estate development

Eastleigh's skyline transformed in 2024 with the completion of several shopping malls and multi-use buildings. Mohamed Yusuf Haji Avenue, in particular, became a hotspot for new developments.

Bilal Towers, a 17-story building, officially opened on December 6. The property houses shops, offices, and residential units. The building’s proprietor, Shamsudin Mohamed, described its completion as a significant achievement. He noted that the construction took two years and highlighted its potential to create employment opportunities for hundreds of people in the community.

"This 17-floor building consists of shops, apartments, and offices. Hundreds of people from our neighbourhood will be getting employment. I am really happy to see Bilal up and running," Shamsudin said.

Baraka Tower, another major project on Mohamed Yusuf Haji Avenue, opened its doors on June 9, 2024. The facility has 120 hotel rooms, a bank and multiple retail shops.

Sharif Mohamed Dhagawayne, the developer, expressed his pride in contributing to Eastleigh’s hospitality sector, particularly for visitors from the diaspora. He added that the project had created 50 jobs for residents.

Other notable developments in 2024 included Waqaf Towers, an eight-story building on Mohamed Yusuf Haji Avenue that opened on June 2, 2024, and Moon Plaza on 12th Street, which became another prominent addition to the district.

Businesses at Yare Towers at the junction of General Wariungi Street and Mohamed Yusuf Haji Avenue in Eastleigh, Nairobi. (Photo: Abdirahman Khalif)

Retail growth and speciality shops

Retail businesses in Eastleigh also experienced significant growth in 2024.

Several speciality shops opened at BBS Mall, including Kushitic, Feel Great Boutique, and the KVDA Honey Distribution Hub. These businesses brought diverse products and services to Eastleigh's expanding market.

Eastleigh’s growth in 2024 proves its role as a dynamic economic hub. The entry of new banks, restaurants, and real estate projects has not only diversified its business ecosystem but also created employment opportunities for many residents.

Latest Stories