When Kenya was selected to co-host the 2027 Africa Cup of Nations (AFCON) alongside Uganda and Tanzania, the announcement was widely celebrated as a sporting achievement. However, from a real estate perspective, the tournament represents something far more significant. Our view is that AFCON 2027 has the potential to accelerate investment across multiple property sectors, not because of the tournament itself, but because of the infrastructure, economic activity and international visibility that accompany major sporting events. If approached strategically, the tournament could leave behind a lasting investment legacy.
Hospitality will be the first beneficiary
Hospitality is expected to experience the earliest and most visible impact. Thousands of athletes, officials, sponsors, broadcasters, media personnel and supporters will require accommodation throughout the tournament. This creates opportunities for:
- Hotels;
- Serviced apartments;
- Extended-stay accommodation;
- Holiday rentals; and
- Mixed-use hospitality developments.
Importantly, these investments should be designed to strengthen Kenya's tourism sector well beyond AFCON 2027.
Infrastructure creates long term property value
Infrastructure has consistently been one of the strongest drivers of real estate appreciation. Road improvements, airport upgrades, public transport systems and supporting utilities improve accessibility while increasing the attractiveness of surrounding developments. Well-planned infrastructure does not simply facilitate a tournament. It creates permanent economic value that benefits residential, commercial and industrial property markets for many years afterwards.
Commercial property could see renewed activity
Major international events generate demand for operational space. Sponsors, broadcasters, logistics providers, event organisers and supporting businesses require offices, warehousing, meeting facilities and temporary operational centres. Some of these commercial relationships may evolve into longer-term business activity, particularly if Kenya strengthens its position as East Africa's commercial gateway.
Retail and entertainment stand to benefit
Major sporting tournaments increase economic activity within host cities. Shopping centres, restaurants, entertainment venues and leisure facilities typically experience increased footfall during international events. When integrated with broader urban regeneration programmes, these developments can continue generating economic activity after the tournament concludes.
Improved international visibility
Hosting AFCON successfully presents Kenya to millions of viewers across Africa and beyond. This exposure extends beyond tourism. International investors often evaluate destinations based on infrastructure quality, organisational capacity, governance and overall investment climate. A well-executed tournament can strengthen Kenya's reputation as a destination for long-term investment.
Foreign Direct Investment and investor confidence
Real estate investment is closely linked to confidence. International developers, institutional investors and private equity funds seek markets that demonstrate stability, infrastructure readiness and long-term growth potential. AFCON provides Kenya with an opportunity to showcase these qualities on a continental stage. While the tournament alone will not determine investment flows, it can reinforce confidence when combined with ongoing infrastructure development, policy consistency and economic reforms.
The importance of legacy planning
The greatest risk associated with major sporting events is creating infrastructure that becomes underutilised after the tournament. Successful host nations focus on legacy planning. Hotels continue supporting tourism. Transport infrastructure serves growing cities. Mixed-use precincts remain active commercial centres. Public investments continue generating economic returns long after spectators have departed. Legacy planning transforms temporary expenditure into permanent national assets.
Our View
At Stable Merchants, we believe AFCON 2027 represents far more than a sporting event. It is an opportunity to accelerate investment, improve urban competitiveness and strengthen Kenya's position as one of Africa's leading real estate markets. The sectors likely to benefit most include hospitality, transport-oriented developments, commercial property, retail, mixed-use precincts and tourism-related assets. However, the tournament's true success will depend on whether investments are planned with a long-term perspective.
The lasting legacy of AFCON should not be measured by attendance figures or the number of matches hosted. It should be measured by stronger cities, improved infrastructure, enhanced investor confidence and sustainable economic growth. If Kenya succeeds in delivering that legacy, AFCON 2027 will be remembered not only as a sporting milestone but also as a catalyst for the next phase of the country's real estate development.
Stable Merchants Limited
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