A look at Kenya Real Estate Finance Options in a Slow Market Economy, as alternative financing in Kenya Real Estate Market.
Real estate financing in Kenya is an investor’s method of securing funds for an impending real estate deal from an financier or a financing organization. The method in which a specific deal is funded can greatly impact its outcome, especially when the market has less real estate transactions and prices are static; as seen during slow economic growth in Kenya, as well as during Covid-19 pandemic whose impact was felt in all sectors of the economy including real estate
As such, understanding the best financing aspect of a project is imperative to reducing the cost of finance, and managing investment risks, not forgetting other risks management measures like conducting a real estate feasibility study. The following are the various real estate financing options for financing real estate investments and developments in a slow market economy:
Contractor Equity and Debt Financing:
Contractor Equity and Debt Financing is a form of financing whereby the Building Contractor enter into two separate contract with the Developer both as a Contractor and as an Equity or Debt Investor into the project; and as a form of financing the project for a profit or return on investment. The Building Contractor finances the project through building materials and labour, whereby the investment is recovered later in the project through proceeds from sale of the final product as debt recovery, or by the contractor converting the investment into equity in the project. This financing arrangement is attractive in slow depreciating because of its flexibility and low cost of finance. The financing is also common with contractor who have the capacity to pull resources together.
Consultant’s Debt and Equity Financing:
Likewise, the Project Consultants or Consortium may also lend their consultancy expertise into the project as debt or equity to be recovered as debt from revenue or proceeds generated later in the project, or convert the investment into equity. Similar to Contractor Equity and Debt Finance, this financing arrangement also attract low cost of finance and therefore attractive to Developers in during slow market economy.
Selling at a cost – Buyer Financing:
In this type of arrangement, a developer may decide to sell the investment property or final market product at cost or at the exact cost invested into the development, that is, selling the investment property at no profit in order to attract potential investor who are :keen to make a good return once they sell the investment property at a profit once the project has been implemented or completed. In this case, the developers or investors could opt to reduce the price of redundant properties to also attract buyer investors who were unable to buy at a higher price due to reduced income.
Peer-to-Peer Lending
An Investor or a developer could also opt for Peer-to-peer lending, which allows them to borrow money from other investors or developers, or groups of investors. The basic process can be thought of similarly to hard or private money lending, though the specifics are quite different. This form of real estate financing typically involves a lower loan-to-value ratio when compared to traditional borrowing. The arrangement often prevents investors from borrowing the entire loan amount needed for the investment project. As well, it attracts a low-interest rate, which is suitable for a slow market economy. Moreover, Peer-to-peer financing, as a whole, offers a high degree of flexibility.
Crowdfunding
Crowdfunding is a financing option that involves several investors with common real estate investment goals coming together to pool financial resources, after which they can investment in real estate projects, mainly through business clubs or local social groups. Crowdfunding creates a greater investment power, thus more diverse and rewarding investment opportunities through a simple economy of scale in a slow market economy. The Developer or Investor can therefore seen like-minded group of Investors to contribute the required funds for the project through a formal partnership agreement to facilitate the development of the project.
Joint ventures
Another important way of financing a real estate project in a slow market economy is through the formation of a joint venture with capital investors. Capital investors are usually investors with funds and are looking for a project with good returns for their investment. In this type of arrangement, the developer transfers land to a project company while the investor provides funds for the construction of the project. This type of financing is very suitable to a slow market economy since the cost incurred for both the individual investor and the funding firm is significantly reduced.
Moratorium on a development loan
An investor could also choose to negotiate for a moratorium on a development loan with his/her bank. The bank could agree to give the investor a grace period, typically one year or more, during which they do not repay the principal sum. The bank will continue financing every stage of the development project, irrespective of speculative costs during this period. After one year or more years, the lender then begins to collect the principal and charges interest. By then, the development income will cover the loan repayments, and hence the investor will not have a hard time paying the loan.
Home Equity Financing
Home equity financing is suitable for investors who already have equity in a piece of real estate. They, therefore, use the existing property to take out a home equity loan, which is usually easier than to secure a brand new loan. That can take the form of an actual loan or a line of credit, and banks will often approve if an investor has sufficient equity built up. As such, the bank will lend a certain percentage of the total value of the existing property, minus the amount that an investor still owe on the property. That is often at least enough for a down payment on the new real estate an investor is interested in. Additionally, in this type of arrangement, an investor may be able to deduct the interest paid on loan from his/her taxes.
In summary, real estate is a commodity that must be paid for, and therefore, it’s up to an investor to determine which real estate financing is suitable for them in a slow or depreciating market to structure the financing around the project’s own operating cash flow and assets. Investors are also able to alleviate investment risk and raise finance at a relatively low cost, to the benefit of all parties involved in the project.
Buildafrique Consulting Group is a specialist and expert in Real estate Finance and Project Finance in Kenya, as well as Real Estate Joint Venture Structuring, including conducting Real Estate Feasibility Studies, Development Project Management, and Real Estate Development Consultancy.
B.) WEEKLY NEWS HIGHLIGHTS
MAJOR ECONOMIC NEWS HIGHLIGHT.
i.) Loan defaults surge by sh 30 billion during the lockdown
In the four months to June, when Kenya imposed stringent measures to contain the spread of the coronavirus, the default on loans by workers and businesses surged to sh30 billion. Data from the Central Bank of Kenya (CBK) released on 1st August 2020 indicated that non-performing loans (NPLs) rose to Sh379.9 billion in June, up from Sh349.9 billion at the end of February, which was the sharpest four-month increase in recent history. The ratio of NPLs rose from 12.7 percent in February 2020 to 13.1 percent – the highest since August 2007 when it stood at 14.41 percent.
ii.) Tax defaulters risk auction by KRA
Businesses and individual tax defaulters have been given up to the end of August 2020 to apply for amnesty on defaulted taxes or risk seizure and auctioning of their properties. The Kenya Revenue Authority (KRA) on 30th July 2020 gave the defaulters who owe an estimated Sh250 billion in tax arrears up to 30th August 2020 to apply for the waiver on penalties and interest.
iii.) Trade deficit narrows by 20 percent
Trade data from the Kenya national bureau of statistics (KNBS) released on 4th August 2020 showed that Kenya’s half years trade deficit fell by 20 percent in the first half of 2020 as compared to the corresponding period in 2019, on the back of a lower import bill and higher export receipt. The data showed that the trade deficit (the difference between the import and the export) stood at sh459 billion, compared to sh575 billion in the first half of 2019. That was the lowest deficit level since the first half of 2016, when it was Sh390 billion. Furthermore, the total volume of trade in the six months dropped to Sh1.09 trillion from Sh1.18 trillion recorded over the same period last year.
iv.) Business growth in Kenya turns positive as PMI jumps to 54.2 percent
Stanbic’s PMI output index turned positive – hitting 54.2 points in July compared to 46.6 in June –the sharpest rate of growth in the last 13 months, signaling a strong uplift in overall business conditions. During the period under review, (July 2020) firms indicated that the lifting of COVID-19-related restrictions helped to generate higher sales in July, most notably from the removal of local border controls
CONSTRUCTION INDUSTRY HIGHLIGHTS
i.) International flight restrictions take a toll on the construction industry
A research report dubbed, ‘The Status of the Built Environment Report’ which was released by the architectural association of Kenya (AAK) on 4th August 2020 indicated that the suspension of international travel in March 2020 took a huge toll on the construction sector, as the cost of inputs increased significantly in the first six months of the year. The report stated that the lockdown on international travel and closure of businesses disrupted the construction industry supply chain, especially from China and other regions; as a result, the cost of construction inputs recorded a significant increase in residential and non-residential buildings at 6.5 percent and 1.8 percent respectively.
ii.) KSh 700 million warehouse to be constructed in Athi River
Purple Dot International Limited, a residential and commercial real estate developer, is developing a sh700 million warehouse facility in Athi River, Machakos County, targeting companies seeking an alternative to the congested industrial area in Nairobi. The firm put up 36 units in the warehouse, measuring 8,000 square feet and going for sh19.5 million each. While launching the fourth phase of the project on 28th July 2020, Purple dot managing director Pravin Pindoriya said that the Athi River strategic positioning coupled with availability of good road networks and electricity offered a viable ground to set up the warehouse. The first three phases of the project there completed between 2015 and 2018 in Athi-River, in which the company sold out 99units of 7,750 square feet, each with a combined value of sh1.96 billion
iii.) South Africa construction material retailer open doors in Kenya
South African construction material retailer, Builders, is set to open doors in Kenya in August 2020. The store, which is located in Karen, will be the first in the East African region and will seek to tap into the market with its wide range of high-quality do-it-yourself (DIY), home improvement and building materials products. The Karen store will also have a garden centre, which will act as a building demo. In a statement announcing the new store, the firm said that it had invested sh500 million in the Karen store.
iv.) Tender for construction of Konza meeting centre now approved
The tender for the construction of the Konza meeting centre was approved by the procurement regulator on 5th August 2020, paving the way for the project to start. The authority awarded Kenyan developer, Parklane Construction Limited the contract on 26th June 2020 after bidding Sh1.43 billion for the job. The tender, which saw a total of 18 bidders participate, was however, contested by another developer, Millicon Limited, which claimed it was locked out unfairly by the authority and sought redress from the regulator. The Public Procurement Administrative Review Board (PPARB), however, ruled on 30th July 2020 that the Konza City Development Authority did not breach any procurement laws when awarding the contract to Parklane.
COMMERCIAL REAL ESTATE HIGHLIGHTS
i.) Intercontinental hotel considers permanent closure of its Hotel in Kenya
Amid the coronavirus economic fallout, the intercontinental hotel on 5th August 2020 ended its Kenya’s operation and sacked all of its employees. In a notice, the hotel’s management declared all workers redundant and that it would terminate its Nairobi Hotel lease. The notice further indicated that InterContinental Hotels Corporation Limited is considering for operational reasons, a permanent closure of the Intercontinental Nairobi and winding up all its operations in the Republic of Kenya.
ii.) Mall tenants face the hammer of auctioneers over pilling rental areas
Retailers are having a hard time paying rent in malls, forcing landlords to kick them out or use crude methods to recover their money. Garden city mall gave notice to its tenants on 5th August 2020, asking them to honor their rental obligations, failure to which their assets will be auctioned on 19th August 2020 without any further notice. The businesses in the mall that have failed to pay rent include restaurants, cloths and a shoe store, and a beauty parlor.
iii.) Property developer’s income affected by the falling rent and low occupancy.
A recent report by Knight Frank showed that real estate investors recorded a double-digit loss in income as covid-19 pandemic reduces rent prices and occupancy rate. According to the report, hospitality, retail, and health centres were the most affected assets, posting 50.5 percent, 41.4 percent, and 26.7 percent drop, respectively. While in a virtual property summit on 30th July 2020, the Knight Frank managing director Ben Woodhams said that the decline was attributed to economic slowdown heightened by the pandemic that resulted in most businesses putting on hold space requirements as they focused on operational rather than capital expenditure.
iv.) Top hotels put on sale amid hospitality industry slump
Two three-star hotels in Nairobi have been put on auction as the Covid-19 pandemic batters the hospitality industry. As such, banks have hired auctioneers to dispose of the Laibon Hotel in South B and Hotel Grace Villa and Guest House in Ngara. Kenya Shield Auctioneers is seeking between Sh175 million and Sh190 million for the six-storey Laibon Hotel consisting of 56 rooms, a bar, restaurant, and offices sitting on 0.115 acres. As well, Garam Investment Auctioneers is seeking Sh112.5 million for the Hotel Grace Villa and Guest House that is located near Jamhuri High School along Limuru Road.
C.) KENYA REAL ESTATE TRENDS
i.) Middle-class downgrade from pricey apartments
As Covid-19 pandemic ravages the economy depleting most people’s income, a huge shift of a majority of people who were paying high rents in plush apartments are seen moving to smaller, cheaper or unfinished homes in the outskirts. Moreover, there has been a shift in the market, and Kenyans are no longer relocating to deluxe apartments as before. According to Nellions Moving and Relocations Company, the recent surge in home relocation in the wake of the coronavirus pandemic has either been a downgrade to cheaper neighborhoods or homes built out of the city for retirement.
According to Kenya banker’s association quarterly Housing price index 2020, Pricey houses and apartments are losing tenants who were resorting to smaller houses and own-homes to save on their monthly incomes. Furthermore, there was a modest 33 percent rise in demand for bungalows even as demand for apartments and maisonettes contracted by 95.9 percent and 57.1 percent, respectively. Taken together, these shifts in trends reflect buyer’s adjustment as affordability remains a crucial concern in the housing market.
ii.) Rent continue to drop on low occupancy levels
According to the half-year Kenya Market Update report by Knight Frank, which was released on 29th July 2020, retail space was the hardest hit sector in the property market in the last six months as the value and rents for prime residential properties continued to fall as a result of an oversupply in the market, low liquidity, expatriates returning home, reduced consumer spending due to the reduction in disposable income which was attributed to the coronavirus pandemic.
According to the report, prime rental rates in retail fell to Sh450 ($4.2) per square foot monthly from Sh492 ($4.6), with occupancy levels averaging 80 percent.
The report noted that landlords provided concessions and incentives on a case by case basis for retaining and attracting new occupiers during the period. Furthermore, prime residential prices in Nairobi fell 2.9 percent in the first half of this year compared to a decline of 1.8 percent in the same period in 2019. That pushed the annual decline to 5.1 percent in the year to June 2020. Prime residential rents also declined over the review period by 6.55 percent compared to 1.67 percent over a similar period last year, taking the annual decline to 7.62 percent in the year to June.
D.) GLOBAL REAL ESTATE TRENDS
i.) Credit arrangement continues to be a challenge to real estate investors across the globe
Many real estate investors across the globe continue to defer the decisions regarding new real estate acquisitions due to funding challenges. However, some high net worth institutions are going ahead with the decision regarding new real estate, keeping a long term horizon in perspective.
Credit arrangement continues to be a challenge to investors, with construction lending facing more challenges in the global real estate market. Lenders and underwriters are being more conservative and highly selective towards real estate borrowers across the world due to social distancing norms and uncertainties across construction timelines. In Kenya, the situation is similar where many lenders are shying away from funding real estate projects due to the market uncertainity.
ii.) Rents in China’s big cities continue to fall.
Over the last three months preceding June 2020, rents in China’s big cities have been falling, a sign of economic uncertainty in China’s otherwise gravity-defying residential property market. According to real-estate data company Beijing Zhuge House Hunter Information Technology Co, the average residential rent levels in large and midsize Chinese cities fell more than 2% in June from a year earlier, for a third consecutive month of decline.
Figures from the state-backed Chinese Academy of Social Sciences showed rents in the capital Beijing, a city of more than 21 million people, falling 1.4% in June from the previous month. In the southern technology hub of Shenzhen, prices fell 3.2%, and in the central Chinese city of Wuhan, where the new coronavirus first emerged late last year, rents fell 6%. According to Zhang Chaofeng, an agent at a Beijing branch of Lianjia, a real estate brokerage company, Landlords have been forced to lower their rents, and there still aren’t many tenants. The decline in rental values in china has been greatly attributed to the long-running trade war with the U.S and now the coronavirus pandemic. The situation is the same in Kenya, where there has been a notable trend in reduction in rental charges and, consequently, rental yield, especially for commercial property owners.
E.) COMMON REAL ESTATE & DEVELOPMENT CHALLENGES, AND SOLUTIONS
Sustaining occupancy on rental property in a depreciating market economy.
YOUR CHALLENGE:
The Covid-19 pandemic has brought into picture the reality of a depreciating real estate market both globally and locally, with both commercial and residential properties experiencing low occupancy level amid economic slowdown and job losses. The challenge has been experienced majorly by property owners and landlords who have experienced low occupancy levels on properties, and who are seeking solution in attracting new tenants as well as retaining the existing ones.
THE SOLUTIONS:
Sustaining occupancy is one of the key areas in property management, that also allows sustainability of cash-flows from the investment, as well as return on investment on the property. Low occupancy is one of the challenges experienced during depreciation of the market as seen during Covid-19 pandemic. The following are solutions for sustaining occupancy in both commercial and residential properties:
a.) Offering Lease Incentives: – Property Owners and Landlords should consider offering Lease Incentives in a depreciating market to sustain occupancy, ranging from Rent Decrease, Flexible Lease Terms, and First Month Free.
b.) Offering favorable Lease Renewal Terms: – Property Owners and Landlords should also consider offering favorable lease renewal terms to the current tenant, at the end of the current lease term in times of depreciating market. This can include negotiation of the rent renewal, and well as reducing on rent during the lease renewal.
c.) Offering of Rent-Free Periods: – In cases where there is very low demand in depreciating market, Property Owners should also consider offering Rent Free periods to new tenants to reduce the void period. Rent-Free period include waiver on rent in the first or few month of the lease.
d.) Intensify Marketing: – Intensifying marketing of the property during depreciating and slow market is another solution to low occupancy. This means allocating more resources into marketing of the property to reach more people, as well as targeting a bigger market size through various forms of adverting to attract new tenants.
THE CONSULTANT TO ENGAGE:
The Consultant to engage in Property Management and Marketing of Real Estate Property is a Real Estate Property Manager.
F.) THIS WEEK ON FREQUENTLY ASKED QUESTIONS (FAQs), AND ANSWERS
QUESTION:
What should be done first, between “Change of User” and “Amalgamation”, while developing on two properties or plots with separate titles?
ANSWER:
While developing on two plots with separate titles, you shall require to carry out amalgamation of the two plots into one single title in order to submit the building plans for statutory approvals. You may also require to undertake change of user, in case where you require to develop a project whose user is different from that stipulated in the conditions of title.
On the question of which process should be undertaken first, carry out the amalgamation process before change of user is always recommended since you are able to save on statutory fees for change of user once you complete the amalgamation process. Otherwise, you shall be required to pay for change of user statutory fees for each plot, if you choose to start with the change of user process instead of amalgamation.
Carrying out the amalgamation process before change of user also allows you to start on the design process of the amalgamated plot, after receiving the new deed plan or survey plan for the new amalgamated plot, which can then run concurrently with the change of user process.
G.) THIS WEEK ON DEVELOPMENT COSTS ANALYSIS – KIKUYU AREA, KIAMBU COUNTY.
This week’s focus on Development Cost Analysis is for Kikuyu Area in Kiambu County, this being another fast growing satellite towns in the Metropolitan area of Nairobi. The Development type in this area according to the land-use and county zoning regulations includes Apartment Blocks, Maisonettes and Town House, Shopping and Retail Complex, and Warehouse and Godowns.
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 – KIKUYU, 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 Kikuyu Area, 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 6th August 2020, supported by government payments, which offset tax receipts. Commercial banks excess reserve stood at Ksh 28.0 billion in relation to 4.25 percent statutory cash reserves requirement (CRR).
91 day T-bill increased by 0.002 from 6.121% previous week rate to 6.123%. CBK offered a total of Kshs4 billion, and bids amounted to Kshs8.520 billion, of which 7.535 was accepted. Volume on bids received increased week on week basis. 182 day T-bill increased by 0.094% from 6.455% previous week rate to 6.549%. CBK offered a total of Kshs10 billion, and bids amounted to Kshs 9.6 billion, of which KSH 8.743 billion was accepted. The 364 day T-bill increased by 0.064% from 7.391% previous week rate to 7.455%. CBK offered a total of Kshs10 billion, and bids amounted to Kshs14.271 billion, of which 13.344 was accepted.
J.) KENYA EQUITY MARKET INDICES
The equity market was on a downward trajectory during the week ending 7th August 2020 as foreign investors offloaded their investments on Kenya’s capital market.
The NASI, NSE 25 share index and the NSE 20 share index and the market capitalization plummeted by 1.81%, 2.48%, 2.98, and 2.30, respectively. On the other hand, the I-REIT turnover and I-REIT deals increased by 149% and 169%, respectively. The number of shares traded and equity turnover declined by 35.89% and 51.12%, respectively.
K.) KENYA CAPITAL MARKET ANALYSIS
The volatility of the capital market remained relatively low during the week ending 7th August 2020. Activity in the banking and telecommunication sector remained relatively high throughout the week with Equity Bank (2,943,000 shares) Safaricom (2,125,400 shares), ABSA Group Holdings (1,234,700 Shares), and KCB bank (536,700 shares) being the top gainers during the week.
The week’s top gainers were Diamond Trust Bank (DTB), Olympia Capital Holdings (OCH), Safaricom Plc (SCOM), Housing Finance (HFCK), and Kenya Reinsurance Company (KNRE), which had their shares increase by 6.56%, 4.91%, 4.78%, 4.66%, and 4.09%, respectively. On the other hand, the week’s top losers were East Africa Cables (CABL), Flame Tree Group Holdings (FTGH), Nation Media Group (NMG), Stanlib Fahari Income- REIT (FAHR), and Stanbic Holdings (SBIC) with their stocks losing by 9.38%, 8.00%, 7.60%, 6.73%, and 6.65, respectively.
L.) CURRENCY HIGHLIGHTS
The shilling plummeted further during the week exchanging at 108.0459 against the U.S dollar, compared to the previous weeks 107.8071. The shilling was under intense pressure during the week as the demand for dollars increased amid the resumption of international flights. The Kenyan shilling, though, remained relatively stable against the local currency exchanging at a mean of 21.06 and 34.2409 against the Tanzanian and the Ugandan shilling, respectively.
The country’s forex reserves remained adequate at 9,421 million (5.87 months of import cover) as of 6th August 2020. That meets the CBK statutory requirement to maintain at least four months of import cover and the 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.) Ease on Covid-19 restriction in Hotels and Restaurants
Hotels and restaurants will be allowed to sell alcohol in their premises following the easing of a presidential directive aimed at stemming the spread of Covid-19. While responding to queries by hoteliers who were seeking relaxation of the alcohol ban, the Tourism Cabinet Secretary Najib Balala said President Uhuru Kenyatta’s order banning alcohol sale was still in force but added that guests could only be served in their hotel rooms.
According to operators in Bars and restaurants, the ban on selling alcohol hit the sector hard, given that the sector had lost almost Sh15 billion by the end of June 2020 when most restaurants were not in operation. The move also saw restaurants and bars enter into big losses given that their reopening costed them between KSh200,0000 to Sh500,000, with some of them spending up to KSh 1 million.
The move to ease the restriction will see sales in the sector increase by a substantial margin, given that restaurants and bars are currently operating at 40 percent capacity. That will lead to a boost in their cash flow in the short term, and consequently, boost their operations and facilitate honoring of lease obligations, as well as increase the rate of employment in the sector as more Jobs will be retained.
ii.) Resumption of International flights
After a four-month shut down due to the Coronavirus pandemic, Kenya’s Jomo Kenyatta International Airport resumed operations on 1st August 2020. The national carrier will operate flights to 11 countries, to begin with, as it cuts the frequency to some destinations as travel demand is expected to remain depressed for at least the next 18 months. The resumption of international flights is expected to boost the country’s economy, especially in the hospitality sector, as well as bilateral ties with foreign nations.
According to the central bank of Kenya, the resumption of international flights saw forward hotel bookings for August to October having a rebound from the lows recorded since April. The CBK further noted that hotel bookings for August were at seven percent, with September and October having 17 percent and 18 percent, respectively. The surge in hotel booking will result in a change of fortunes for hotels and restaurants, which were on the verge of closing and terminating lease contracts. Furthermore, more workers will be retained, reducing the unemployment rate, which is currently being noticed in the country.
N.) UPCOMING REAL ESTATE EVENTS AND TRADE SHOWS IN THE COMING ONE WEEK.
i.) Webinar: Commercial Real Estate Lending in Today’s Economy – The webinar will review commercial real estate ncluding types of properties and demand/supply in the current market
Date: 18th August 2020
Time: 09:00 AM to 06:00 PM
Venue: Online
Event Organizer: https://myicba.icba.org/eweb/DynamicPage.aspx?webcode=EventInfo&Reg_evt_key=a2e6598c-faa3-4f19-ab1f-1f7393d0a89b&RegPath=EventRegFees&FreeEvent=0&Event=Webinar:%20Commercial%20Real%20Estate%20(CRE)%20Lending%20in%20Today
ii.) SUMMIT: International Construction Summit – The event will cover emerging construction trends, offshore engineering use and benefits, and digitalizing project handover documentation.
Date: 24th August 2020
Time: 10:30 AM
Venue: Online
Event Organizer: https://www.curt.org/events/event-detail/?EventID=600
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:
- Feasibility Studies and Market Research.
- Project Finance and Capital Raising.
- Project Management.
- Investment Design Appraisal.
- Quantity Surveying
- Construction Cost Consultancy
- Physical Planning and Planning Permissions
- Environmental Management and Impact Assessment
- Real Estate Development and Structured Investment Solutions
- Property Valuation
- Marketing and Property Sales Agency
- 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.