Government policies are a set of decisions by governments and government institutions that influence the fiscal and economic situation of a country or sector of the economy. These policies and legislations, which include fiscal and monetary policies can boost or hinder demand for real estate sector, as well as real estate prices.

As such, being aware of current government policies can help you determine real estate changes in the market, supply and demand dynamics, as well as help identify expected trends in the real estate market.

that will shape the real estate market in 2021.

a.) Finance Act 2020:

The National Assembly, on 23^rd June 2020, passed a finance bill which was assented to by the president on 30^th June 2020. The legislation introduced fundamentally different tax concepts in Kenya such as a minimum tax primarily targeting taxpayers in a perpetual tax loss position, Digital Services Tax, and a Voluntary Tax Disclosure Programme that provides for a waiver of penalties and interests. At the same time, the Finance Act increased the amount of rental income that qualifies for Residential Rental Income (RRI) Tax to income to between Kshs 288,000 and Kshs 15 mn per annum from the initial income of between Kshs 144,000 and Kshs 10 mn. Also, the act abolished the Registered Home Ownership Savings (HOSP) schemes in Kenya, effective January 2021.  Home Ownership Savings Plan (HOSP) is a savings plan established by an ‘approved institution’ and registered with the commissioner for Income Tax to receive and hold funds in trust for real estate depositors. Registered Home Ownership Savings accounts in Kenya are restricted to first time home buyers and to purchase of a permanent house, which the Income Tax Act defines as a residential house that a financial institution would accept as collateral for a mortgage and includes any part or portion of a building, used or constructed, adapted or designed to be used solely for human habitation. The accumulated funds are withdrawn tax-free to strictly purchase or construct a house. However, if the depositor utilizes the funds for any other purpose other than to acquire a house, they become taxable in the year of withdrawal. The act is expected to affect the supply and demand side of the real estate market, as the number of Investors and potential homeowners applying for mortgages will reduce. Furthermore, the tax relief which used to come with borrowing a mortgage from the HOSP will not be there, and hence fewer mortgages are expected to be applied. The abolishment will negatively impact the affordable housing program, as the middle-lower class will not get a preferential mortgage after a minimal saving period.

b.) Tax (Amendment) Act 2020

The tax amendment act 2020, which was enacted on 28^th April 2020, saw the amendment of Section 38 of the Retirement Benefits Act (1997) to allow access to retirement benefits for purposes of purchasing a residential house. In the draft, the Retirement Benefits Authority (RBA) regulations stated that the amount used shall be the lower of either 40% of the savings (Kshs 7.0 mn) or the purchase price of the house. This is expected to unlock a significant amount of pension funds towards the housing sector through the purchase of retirement houses, and hence support real estate purchases.

c.) Affordable Housing Regulations

On 18^th May 2020, the State Department of Housing and Urban Development released a new set of regulations under the government’s Affordable Housing Program to make National Housing Development Fund contributions voluntary. Under the regulation, the National Housing Corporation (NHC) established a National Housing Development Fund Account for each registered member to channel their contributions. At the same time, the Central Bank of Kenya gazetted the Mortgage Refinancing Companies regulations dated August 2019, which was set for refinancing mortgage portfolios by Q3’2020. The Kenya Mortgage Refinancing Company (KMRC) announced they will lend money to financial institutions at an annual interest of 5% who will onward lend at a subsidized interest of 7% annually. In 2021, we expect to see more mortgage refinancing and hence house purchases, which will be secured through bank mortgage loans.

 d.) Changes in Latent and Patent Defects Liability Period

In May 2020, the Housing and Urban Development Cabinet Secretary James Macharia gazetted a new regulation under the National Construction Authority (Defect Liability) regulation 2020, which introduced a latent defects liability period for commercial buildings that give owners up to seven years to recall contractors back to the site to rectify flaws in projects. As such, building owners have at least a year to call back contractors to rectify flaws such as cracked plaster or issues with the paint (Patent Defects), and a further six years to have the contractor rectify structural flaws that were concealed during the construction (Latent Defects). Defects liability period is when the construction of a building has been completed, from practical completion to hand-over of the commercial building during which a contractor may return to the commercial building to remedy any patent defects. The introduction of the latent liability period is expected to improve the construction standards, which will in turn lead to improved quality of buildings in Kenya.

CONCLUSION

The Kenya real estate sector is linked with the overall performance of the economy which is affected by government policies, and fluctuations within the sector can magnify the ups and downs of the overall economy and the Kenya real estate market. Therefore, real estate investors need to know the likely policy issues that would affect their investments and development projects to mitigate or manage investment risks.

Buildafrique Consulting Group is a specialist and expert in Joint Venture Structuring in Kenya, Real Estate Project Finance and Capital Raising,  conducting Real Estate Feasibility Studies, Development Project Management and Consultancy in Kenya for real estate investment projects.

B.) WEEKLY NEWS HIGHLIGHTS

          MAJOR ECONOMIC NEWS HIGHLIGHTS

i.) Hopes for economic recovery in 2021 raised by Job openings

In January 2021, Job openings in the private sector rose at the second-fastest pace over the past year, signaling a gradual economic rebound as more businesses and learning institutions increased spending. According to the Markit Stanbic Bank Kenya’s Purchasing Managers’ Index (PMI), the rate of new hires was the fastest since October 2020 before authorities tightened some of the pandemic’s containment measures, which had been eased, to stem a second-wave of coronavirus infections. The index further showed that business managers polled in the closely watched monthly survey between January 12-27 added workers as a result of rising demand for goods and services.

ii.) Business competition rules relaxed to spur Covid-19 recovery

The Competition Authority of Kenya (CAK) said it would relax its regulations on restrictive trade practices to spur economic recovery. The Competition Act prohibits restrictive trade practices such as sharing strategic market information, joint distributorship, supply agreements, marketing or sales strategies, and research into new markets. According to the Authority, companies will be allowed to temporarily collaborate in their business operations to aid recovery from the disruption caused by the Covid-19 pandemic.

iii.) Business activity surges sharply in January 2021

A new survey by the Stanbic bank shows that economic conditions in the Kenyan private sector improved at a solid pace in January 2021, driven by sharp increases in output and new business. According to the survey report, Kenya’s private sector registered impressive growth in January, buoyed by increases in output and surge of new orders, amid improving business conditions. The PMI posted 53.2 in January 2021, up from 51.4 in December 2020, the highest reading in three months. The index pointed to a solid improvement in the health of the private sector economy and the seventh consecutive month of growth since the Covid-19 outbreak.

iv.) Conditional loans raise public debt by Sh1.23trn

Kenya’s foreign borrowing jumped 22.1 percent to Sh686.47 billion in 2020 after the Treasury turned to the World Bank and the International Monetary Fund (IMF) for quick-disbursing credit facilities. According to the new statistics published by the Central Bank of Kenya, the elevated foreign borrowing, coupled with an 18.57 percent or Sh546.44 billion rise in domestic debt, pushed Kenya’s total new debt in a year past Sh1 trillion for the first time. The National Treasury new disclosures further show that Kenya’s debt from the IMF towards budgetary support nearly tripled between January and September 2020, jumping 190.33 percent to $1.047 billion (Sh115.33 billion) from $360.66 million (Sh39.73 billion) in December 2019.

          CONSTRUCTION INDUSTRY HIGHLIGHTS

i.) NMS seeks views on redevelopment of the County estates upgrade project

On 5^th February 2021, the Nairobi Metropolitan Services (NMS) invited public views on the planned refurbishment of 10 residential estates within the city as it moves closer to construction. From 8^th February 2021, the NMS will hold forums for 11 days beginning at Joseph Kang’ethe Social Hall in Woodley. The forum will then head to Ziwani, Bahati, Maringo, Jericho, Lumumba, Bondeni, California, Embakasi, and end in Kariobangi North. Under the Nairobi Integrated Urban Development Master Plan, the redevelopment of the Nairobi County government estates targets, among other things, urban regeneration and renewal of old county estates in Eastlands.

ii.) Construction rebounds to pump Sh169b into the economy

According to the Kenya National Bureau of Statistics (KNBS), the Kenya construction sector contributed Sh169 billion to Kenya’s gross domestic product in the third quarter of 2020, the highest in any quarter since 2015. The Quarterly Gross Domestic Product Report by the KNBS indicated a 16.2 percent increase in the sector’s third quarter of 2020 performance, from the Sh135 billion it pumped into the economy in a similar quarter in 2019. That was also more than Sh23 billion what the sector yielded in the second quarter of 2020.

iii.) Kenya Construction industry to remain subdued in 2021

According to the Architectural Association of Kenya (AAK), Kenya’s construction sector will remain subdued in 2021 as Covid-19 continues to affect investment decisions by developers and investors. The association further noted that developments in the high-rise residential segment of the Kenya real estate market remain flat into 2021, as investors maintain a wait-and-see attitude on future demand and return on investment. However, AAK noted that developments in healthcare, industrial, and data center segments, which have shown resilience in the Covid-19 environment, remain attractive.

iv.) Construction of a second referral hospital in Nakuru commences

The County Government of Nakuru has started the construction of a Sh175 million Njoro Sub-County referral hospital, which is scheduled for completion in the next 40 weeks. According to the County Executive Committee Member for Health, Gichuki Kariuki, the upcoming hospital would improve medical service delivery in the region and also help to decongest the Nakuru Teaching and Referral Hospital. The hospital, which has a 750 bed-capacity, will have an outpatient department, X-ray department, an emergency unit, theaters, a maternity wing, a pharmacy, inpatient facilities, and modern laboratories.

          COMMERCIAL REAL ESTATE HIGHLIGHTS

i.) Tuskys wants assets held by landlords in 20 outlets released

In an application before the High Court, Tuskys Supermarket wants the court to compel its landlords to release its non-core assets currently held in about 20 branches over rent default for sale as part of its turnaround plan. According to the retailer, the sale of pre-selected non-core assets in outlets that it intends to exit through the surrender of leases granted to the premises will help it resume operations as a going concern and ultimately enable it to meet its financial obligations to its creditors.

ii.) Kiambu land prices drop amid the Covid-19 pandemic

According to the recent HassConsult real estate index, Kiambu Town, Ruiru and Limuru had the biggest annual drops in asking prices of 11.4 percent, six percent, and three percent, respectively, with Ruaka and Juja also recording drops of 1.5 per cent and 0.3 percent, respectively. According to the index, land prices in Kiambu are declining due to tighter conditions for accessing credit, with the Covid-19 pandemic also hurting demand as buying power diminished due to job losses and pay cuts.

iii.) House price in Nairobi Suburbs record a stagnant growth

House prices in Nairobi’s suburbs stagnated last year, owing to an overall drop in the property costs due to lower demand tied to the economic fallout of Covid-19. According to HassConsult, House prices in Nairobi’s suburbs stagnated in 2020, attributed to an overall drop in the property costs due to lower demand tied to the economic fallout of Covid-19. The firm further attributed the stagnant growth to a decline in apartment’s prices by an average of 1.8 percent in the last quarter and 4.6 percent over the year.

iv.) Muthaiga and Donholm record the biggest increase land price gains

Muthaiga and Donholm estates have recorded the biggest jump in Nairobi’s land prices over the past six years, revealing buyer preference for exclusivity and ease of access. According to the HassConsult property index, which was released on 3^rd February 2020, the price of an acre of land in Muthaiga has gone up by 71 percent since 2015 to Sh185.2 million currently, while the cost of the same size of land in Donholm has risen by 48 percent to Sh70.8 million. Price growth in these regions was attributed to the area’s continued exclusivity and land scarcity.

C.) KENYA REAL ESTATE TRENDS

i.) Kenya Industrial sector continues to receive gradual change

The Kenya industrial sector has been receiving a gradual change with a changing clientele who prefer high-quality stock, which allows for modern retailing, distribution, and manufacturing practices. This has led to modern industrial parks such as Tatu City Industrial Park, Infinity Industrial Park, and Tilisi. The modern parks are also built in such a way that they allow for a live, work, and play concept.

The industrial sector market demands a serene location that is different from the congested Nairobi’s Industrial Area, Baba Dogo and Mombasa Road areas, where most of Kenya’s old stock is mostly outdated warehouses. As such, the new industrial parks are now moving to areas within Nairobi’s periphery, such as Kiambu and Machakos counties, where they are easily accessible and are still in close proximity to the key infrastructure, such as airports and railway terminals.

ii.) Construction of quality roofing finishes continue to create traction to potential homeowners.

The roof has become a key reference point for home designs and styles, as developers and potential homeowners rush to appear unique in their houses’ design. Due to its visibility, the roof determines a building’s aesthetic value, and builders are going to great lengths to use materials that stand out.

That has pushed up the number of roofing materials suppliers from four to more than 10 in the last decade, with many importing from Asian countries. Iron sheets, clay, and concrete tiles were the dominant roofing materials but recently, stone-coated steel sheets and asphalt shingles continue to dominate the Kenyan market. The shift has been attributed to the Kenyan market liberalization, with imports of the new products resulting in a changing roofing landscape. According to Mabati Rolling Mills Head of Marketing Harry Muchangi, improved incomes have also helped shape the choice of roofing products.

D.) GLOBAL REAL ESTATE TRENDS

i.)  Global house price boom strengthens, despite Covid-19 crisis

According to Global Property Guide’s research, 34 of the world’s housing markets for which figures were available showed stronger upward momentum during Q3 2020, while only 21 housing markets showed weaker momentum.

According to the report, the strongest housing markets in the survey during the year to Q3 2020 included: Turkey (+13.96%), HCMC, Vietnam (+13.83%), New Zealand (+13.77%), Germany (+12.44%), and Slovak Republic (+10.1%), using inflation-adjusted figures. On the other hand, the biggest y-o-y house price declines were in Egypt (-22.31%), Montenegro (-21.99%), Phnom Penh, Cambodia (-7.88%), Dubai, UAE (-4.88%), and Saudi Arabia (-3.51%), again using inflation-adjusted figures. In Kenya, house prices decline in 2020, attributed to reduced income and disposable income.

ii.) Hong Kong’s Central Office Vacancy Rate Hits 16 Year High in 2020

According to JLL’s latest Hong Kong Property Market Monitor report, Grade A office vacancies rate for Hong Kong’s Central Market rose to 7.3% in December 2020, surpassing 7% for the first time since 2004.
According to JLL, the vacancy rate will continue to increase attributed to a sizable amount of marketable and surrender space anticipated to come back to the market in the upcoming months. The property market monitors further indicated that leasing activities were limited towards the end of 2020, with only a handful of small transactions recorded.

Overall, Grade A office net absorption was -175,600 sq ft in December 2020 due to the ongoing occupier downsizing trend driven by the economic recession. According to Alex Barnes, Head of Office Leasing Advisory at JLL in Hong Kong, the rental decline trajectory continued across all major office submarkets, with net effective rents in the overall market dropping 1.1% m-o-m in December 2020. Likewise, the Kenyan Grade A office continues to suffer as the occupancy rate continues to decline.

E.) COMMON REAL ESTATE & DEVELOPMENT CHALLENGES,  AND SOLUTIONS

Energy saving measures for a Commercial Development

YOUR CHALLENGE:

Energy consumption has been growing exponentially over the year in commercial buildings, with growing commercial space and increasing technology in commercial building that involves various energy consuming devises. The challenge comes in meeting the annual energy goals of the building, as well as maintaining optimum life cycle cost that maximize returns on investments.

THE SOLUTIONS:

Below are some of the energy cost saving measures you can implement in order for you to meet your annual or monthly energy goals for your building:

• Smart Building: Smart buildings includes those with complete automated controls and systems in place. These controls comprise of sensors and actuators that are integrated together to form an intelligent data collection application. Smart building systems save energy by providing visibility into the entire building even if the facilities are spread across a large area like a university. The data that these systems collect can be used for analyzing, tracking and communicating.

• Smart Building: Employing quick low-cost techniques can save substantial energy bills. For example, performing regular maintenance of your HVAC system is another low-cost way to ensure that the largest consumer of energy in your building is efficient, as well as cleaning of coils and vents such as condenser and evaporator coils can produce energy savings.

• Monitoring and Control: You can either have a centralized monitoring where the entire view of the various facilities is monitored and a field engineers are dispatched as and when problem arises. Another option is to enable alerts and notifications on the operators’ mobile devices that would give either an early warning or an emergency signal depending on the situation. This can be further extended to automated controls that can be stopped or slowed down whenever an issue arises. Remote monitoring and control can also be used to reduce the number of manual hours and shifts and decrease your energy expenditure.

• Improved Insulation: Adding layers of insulation around your HVAC, heating and cooling pipes, and electrical outlets will help with maintaining efficient energy levels and reduce wastage of energy. Insulation also provides resistance to heat flow and lowers the heating and cooling costs and increases the comfort of the occupants. Additionally, reducing the heat loss through the building envelope by internal or external wall insulation also improves the energy efficiency of buildings.

• Building Design: The building design measure that can be taken to enhance energy saving measures in commercial buildings include: cooling measures and “green” designs to help reduce energy costs, Natural lighting and opening interiors to daylight, Use of landscaping and trees to provide shaded areas and reduce local temperature, Solar power panels to power lights in parking spaces or even for water heating, and designing a water collection system for irrigating landscaping in and around the building.

• Energy-Efficient Lighting: Lighting makes up a significant portion of energy consumption after heating and cooling. Hence, focusing on efforts to use energy-efficient lighting can help to cut down energy costs. Some of the ways you can do is using occupancy sensors to operate the lights only when occupied. The other very successful way is to use a low energy consuming lights such as fluorescent, incandescent, halogen, LED or HID.

THE CONSULTANT TO ENGAGE:

The Consultants to engage in energy saving methodology is an Architect or a Project Manager.

F.) THIS WEEK ON FREQUENTLY ASKED QUESTIONS (FAQs), AND ANSWERS

QUESTION:

What is the average payback period of Real Estate Rental Investments in Kenya?

ANSWER:

The payback period is one of several real estate investment performance indicators and represents the number of years required to recoup the initial cash invested in a particular property.

More specifically, the payback period is calculated as the number of years over which the after-tax cash flows expected to be received from the property investment will sum up to an amount equal to the initial investment cost paid by the investor. The higher the net operating income(NOI) earned by the property and the faster its growth rate over the holding period, the shorter the payback period of the investment.

In Kenya, the payback period for real estate development projects and property investments can range from few to several years, depending on the type of real estate investment.

Below is the average payback period for several real estate investment; based on average investment analysis of popular real estate hotspots in Nairobi:

• Residential Rental Development – The payback period range between 8 to 10 years, on a well-structured investment for projects with a debt equity ratio of 50% or below. The payback period would however increase with high debt equity ratio.

• Hotel (Hospitality) – Hotel have the shortest payback period compared to residential and commercial development, which can range anywhere between 4 and 6 years depending on occupancy levels. Occupancy levels are mostly influenced by market penetration strategies for investments.

• Commercial Office Block – Commercial office block have better pay back period performance than residential rental development, but perform lower than hotel. The payback period can range between 6 and 7 years.

G.) THIS WEEK ON DEVELOPMENT COSTS ANALYSIS – RUIRU AREA, KIAMBU COUNTY

This week’s focus on Development Cost Analysis is for Ruiru Area in Kiambu, this being residential and industrial area in Kiambu County. The Development type in this area according to the land-use and county zoning regulations includes Apartment Blocks, Maisonettes and Town House, Godowns, and Shopping and Retail Complex.

Below is an analysis of Construction Cost per Square Meter (SM), for the option of procuring the development project through a Building Contractor, or an option of direct procurement of the Materials and Labour through a Labour Contractor for recommended building types.

H.) THIS WEEK ON REAL ESTATE PRICE ANALYSIS – RUIRU, KIAMBU COUNTY.

The Real Estate price analysis focus for this week is on land, sale, and rental prices for a 2 and 3 bedroom apartment in Ruiru- Kiambu County. The data were obtained through surveys, and analysis of asking prices on property listings in Nairobi.

i.) Sales price – Apartment and houses

ii.) Rent price – Apartment and houses

iii.) Land price per acre (commercial/residential)

I.) CENTRAL BANK OF KENYA INTEREST RATE WATCH – (T-BILLS)

The money market remained liquid over the week ending 5^th February 2021, supported by government payments, which offset tax receipts. The interbank rate, which is an indicator of liquidity levels in the banking sector, plummeted by 0.37 percentage points to 5.3322 percent, indicating reduced banking sector activities.

91 day T-bill plummeted by 0.02 from 6.897% previous week rate to 6.873%. CBK offered a total of Kshs4 billion, and bids amounted to Kshs 504.70 million, of which Ksh489.41 million was accepted. 182 day T-bill increased by 0.02% from 7.7578% previous week rate to 7.594%. CBK offered a total of Kshs. 10 billion, and bids amounted to Ksh 2.020 billion, of which all was accepted.  The 364 day T-bill increased by 0.09% from 8.623% previous week rate to 8.716%. CBK offered a total of Kshs10 billion, and bids amounted to Ksh 14.210 billion, of which 12.373 billion was accepted.

J.) KENYA EQUITY MARKET INDICES

Investors trading confidence at the Nairobi Security Exchange (NSE) reduced in the week ended 5^th February 2021, as evidenced by reduced trading activities. During the week, foreign investors assumed a net buying position by accounting for 70.10% of the total market sales and 79.32% of the total market purchases.

The NSE All-Share Index, NSE 25 share index, and market capitalization, which are the main measures of the equity market’s performance, increased by 0.97%, 125%, and 0.97%, respectively. The I-REIT turnover increased by 37.31% during the week, indicating increased real estate activities.

K.) CURRENCY HIGHLIGHTS

The Kenya Shilling remained relatively stable against major international and regional currencies during the week ending 4^th February 2021. The local currency strengthened against the greenback by 0.3234 points, attributed to the balance of trade deficit.

The usable foreign exchange reserves remained adequate at USD 7,617 million (4.68 months of import cover) as of 5^th February 2021. That meets the CBK’s statutory requirement to endeavor to maintain at least four months of import cover and the East Africa Community (EAC) region’s convergence criteria of 4.5 months of import cover.

M.) FACTORS THAT WILL SHAPE THE REAL ESTATE AND OTHER MARKETS IN THE NEXT ONE WEEK.

i.) KRA Proposal on regulating the transportation of building materials

Annastaciah Githuba, KRA’s Deputy Commissioner at the County Revenue Division, announced that KRA has set up a consultative meeting with stakeholders in the building industry on 4^TH February 2021 to determine the implementation of the proposals. In a new proposal, the Kenya Revenue Authority wants to regulate the transportation of building materials by pooling building material transporters into groups for more efficient revenue collection.

The impending move has jolted building material transporters, some of whom have claimed the move would ultimately result in cost increases. According to the transporter, the new structure will see cross-county transporters paying every time they move materials out of Nairobi, creating instances of double payments due to the nature of the business. The transporters say they will have no option but to transfer the cost to their clients, raising building costs, which results in higher house prices upstream.

ii.) Increasing Political tension in the country

Kenya has had a series of political rallies in the past weeks, with the debate on various political ideologies among the politicians. This has resulted in political tension in the country between those in support and those against these ideologies.

The rising political tension is likely to lower investment confidence for foreign investors looking to invest in the Kenya property market. Likewise, the investment confidence will be impacted to local and foreign tourists and expatriates, thereby affecting the hospitality sector. This is expected to Impact on investment and transaction in real estate sector, in particular the hospitality sector which is dependent on the political climate of the country.

N.) UPCOMING REAL ESTATE EVENTS AND TRADE SHOWS IN THE COMING ONE WEEK.

i.) Webinar: Transitions between Steel Beam and Concrete Barriers – The webinar describes the development, testing, and evaluation of a proposed Australasian transition from a strong post public domain W-beam to a concrete barrier.

Date: 11^th February 2021

Time: 10:00 PM

Venue: Online

Event Organizer: https://austroads.com.au/webinars-and-events/webinar-transitions-between-steel-beam-and-concrete-barriers

ii.) Conference: Monthly Mortgage Pipeline Hedging Update – The webinar will offer market updates and impacts on mortgage pipeline hedging.

Date: 10^th February2020

Time: 11:00 AM- 12:00 PM

Venue: Online

Event Organizer: https://www.almfirst.com/event/2021-monthly-mortgage-pipeline-hedging-update-webinar-series/2021-01-12/

Writer of the Report:

This Report is written by Buildafrique Consulting Group, Kenya multi-disciplinary consultancy, that offers END-TO-END DEVELOPMENT CONSULTANCY, REAL ESTATE, and PROJECT FINANCE solutions through specialized subsidiaries. Among our solutions includes:

1. Feasibility Studies and Market Research.
2. Project Finance and Capital Raising.
3. Project Management.
4. Investment Design Appraisal.
5. Quantity Surveying
6. Construction Cost Consultancy
7. Physical Planning and Planning Permissions
8. Environmental Management and Impact Assessment
9. Real Estate Development and Structured Investment Solutions
10. Property Valuation
11. Marketing and Property Sales Agency
12. Property Management and Facility Management

Our Contacts:

• Office: Navigators, Kindaruma Road, Nairobi.
• Website: buildafrique.com
• Email: [email protected]
• Tel: +254 20 8058493  /  Mobile: +254 722 474285 

Disclaimer:

The information contained in this report is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the information contained on the report for any purpose. Readers are therefore advised in all circumstances to seek the advice of Registered and Licensed professionals in all matters related to Real Estate Investment and Project Development.