Effects of Development Control Policies on Strategic Investor Attraction in the Real Estate Sector in Nairobi City County
Abstract
The pilot study examined the suitability of research instruments designed to assess the effect of development control policies on strategic investor attraction in the real estate sector in Nairobi City County. A pilot study was conducted using 24 respondents, representing 10% of the sample size, to test reliability, validity, and factor structure before the main data collection exercise. Reliability was assessed using Cronbach’s alpha, and all study variables recorded acceptable values above 0.7. Environmental Impact Assessment requirements had the highest reliability score of 0.874, followed by stakeholder engagement policy at 0.867, licensing regulations at 0.796, zoning regulations at 0.785, regulatory transparency at 0.758, and strategic investor attraction at 0.711. Validity was tested using the Kaiser-Meyer-Olkin measure and Bartlett’s Test of Sphericity. All KMO values were above the recommended threshold of 0.5, while Bartlett’s test was significant at p = 0.000 for all variables, confirming that the data were suitable for factor analysis. Factor analysis further showed that most questionnaire items had acceptable factor loadings above 0.5. However, two items under stakeholder engagement policy recorded low loadings of 0.281 and 0.464 and were therefore removed from the main analysis. The findings confirmed that the research instrument was reliable, valid and appropriate for measuring zoning regulations, licensing regulations, stakeholder engagement policy, environmental impact assessment requirements, regulatory transparency, and strategic investor attraction. The pilot results therefore supported the use of the revise questionnaire in the main study.
Keywords: Development control policies; Strategic investor attraction; Real estate sector; Regulatory transparency; Nairobi City County.
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