Thesis:

Influence of sustainable development strategies on the Performance of real estate investment trusts in Nairobi city County, Kenya

Sustainable development strategies in Real Estate Investment Trusts (REITs) are crucial due to the sector's dynamic nature and environmental impact. Understanding how REITs implement these strategies is essential for improving performance and achieving long-term sustainability. Despite various efforts, REITs still face performance challenges, highlighting the need for more effective and innovative sustainable development measures. This study sought to find out the influence of sustainable development strategies on the performance of REITs in Nairobi City County, Kenya. The study’s objectives were establishing the influence of leadership strategies, establish the influence of innovative strategies, determine the influence of resource productivity strategies, and to assess the influence of stakeholder engagement strategies on the performance of REITs in Nairobi City County, Kenya. This research used Transformational leadership theory, Innovation Diffusion theory, Resource-based view theory, and Stakeholder theory. The study targeted 15 REITs within Nairobi City County as the unit of analysis, selected through purposive sampling. The study targeted 235 employees from these REITs as the unit of observation, serving as finance managers, assistant finance officers, operations managers, assistant operations officers, marketing managers, assistant marketing officers, risk managers, and assistant risk officers. To arrive at a non-biased or representative sample size sampling technique was used through the application of Taro Yamane formula where 148 participants were selected. The researcher utilized questionnaires with structured questionnaires to collect the data. Descriptive statistics were presented through frequencies, percentages, standard deviation, and mean. Data analysis was conducted using descriptive and inferential statistics to establish the link between the variables. Results revealed a β of .315 and a p-value of 0.001, between leadership strategies and the performance of REITs in Nairobi City County. Also, findings revealed a β of .255 and a p-value of 0.001 between innovative strategies and the performance of REITs in Nairobi City County. In addition, Findings revealed a β of .342 and a p-value of 0.001, between resource productive strategies and the performance of REITs in Nairobi City County. Lastly, Results revealed a β of 0.155 and a p-value of 0.006 between stakeholder engagement strategies and the performance of REITs in Nairobi City County. The study concluded that leadership strategies, innovative strategies, resource-productive strategies, and stakeholder engagement strategies had a positive and significant influence on the performance of REITs in Nairobi City County. The study recommends that REITs in Nairobi City County should adopt transformational leadership strategies to integrate sustainable development goals, drive innovation, and promote ethical decision-making for enhanced performance. Additionally, the study recommends embracing innovative strategies, including green technologies and smart building solutions to improve environmental performance, reduce costs, and foster a culture of continuous innovation. Moreover, the study recommends optimizing resource productivity by managing energy, water, and waste efficiently, alongside workforce training, essential for aligning operations with sustainability goals and boosting financial outcomes. Lastly, the study recommends comprehensive stakeholder engagement strategies, emphasizing transparency, collaboration, and alignment with community and investor interests, critical for building trust and ensuring long-term competitiveness in the real estate sector.