MIP WEEKLY CONSTRUCTION INDUSTRIAL REPORT NO.14
Period: November 2 to 8, 2015
Bamburi Cement introduces first ever mobile concrete lab
5/11/2015: The Standard, page 6
- Bamburi Cement Manufacturers have introduced the country’s first ever mobile laboratory that will be testing quality and ratio of mixed sand, cement, ballast & water on-site. This service will be offered for free to its customers in order to ensure use of best quality concrete for best results.
- The launch is a boon to contractors in adhering to quality standards by the Kenya Bureau of standards (KEBS) and the National Construction Authority (NCA)
Sports is the next big thing in real estate marketing
5/11/2015: The Standard, Home & Away Magazine, page 10
- In a bid to attract buyers, developers have moved a step higher, besides offering scenic value, unique design and security to offering world class sporting amenities.
- Aberdare Hills Golf resort and English Point Marina among others are examples of development heading in this direction.
- Aberdare Hills Golf Resort is a 1700 acre gated community in Naivasha, developed by Panda Development Company Limited that is using 18-hole international golf course as its selling point. English Point Marina on the other hand is a development in Mombasa whose selling point is the Marina which would attract water sports lovers.
County government staff can now own decent houses
5/11/2015: Daily Nation, DN2Magazine, page 5
- Housing Financing (HF) launched a country wide drive to develop mortgage houses for county government staff.
- It is a private-public partnership model that will see county government workers charged lower mortgage rates payable in monthly instalments via cheque-off system.
- Already, Phase 1 of the Kakamega county housing project that will constitute 1000 apartments is expected to commence before the end of the year.
Private equity Xterra to invest Kshs.20.74 billion in Kenya’s real estate
5/11/2015:Daily Nation,page 10
- Private equity firm, Xterra Capital advisors will invest 34% of the Kshs.61 billion raised in equity & debt. Half of the amount will go towards retail properties, 19% in office spaces, 28% in hotels and the remaining 3% in industrial properties.
- In August 2015, Xterra equity firm said that it would partner with AMS properties and Hass Consult to develop properties worth 10 billion using equity financing.
STANLIB – Fahari I – REIT
Cytonn Weekly Report
- STANLIB – Fahari I – REIT will invest 75% of its total asset value in Kenya’s real estate with a maximum of 25% invested in cash or cash – like instruments that will be listed in the Nairobi Security Exchange (NSE).
- They have already identified The Greenspan shopping mall with lettable area of 173,353 sq. feet, Bay Holdings Industrial Area with a lettable area of 27,329 sq. feet and Signature International, a commercial property with a lettable area of 8,489 sq. feet.
- It is expected that the rental yield on the properties will be 5 – 8% with an estimated capital appreciation of 10%, giving the investor a total return of 15% p.a.