Jumia House recently engaged with the team at Ace Realtors to get their insights about the Real Estate industry. Below are the excerpts.
Who is Ace Realtors?
Ace Realtors Limited is a Kenyan real estate company duly incorporated under the Companies Act Cap 486. The Company has been operational since 2009. We specialize in property search and sales for clients as well as post-sales services. This includes residential and commercial leasing and property management.
What Are Your Views On The Growth Of The East African Construction Sector?
The Building and Construction Industry in East Africa is witnessing continuous growth, and as a result, it is driving employment and productivity, which in turn encourages government’s investment in quality infrastructure projects.
Brief Overview of How the Sector Has Been Performing, was it influenced by the Election? Etc.
The construction sector is yet to entirely pick up after the slump that hit the industry in the wake of prolonged electioneering period. The Government under the housing and planning department is proposing various amendments in the building and construction laws to make the industry more attractive to investors for instance:-
- Speeding up the process of getting approvals for construction.
- Increasing tax incentives for the homes savings plan to encourage saving for building homes.
- Reviewing the Sectional Properties Act.
If the above is realized we are looking at significant growth in the industry considering that the annual demand for housing is barely met. Indeed the declining Kenya Shilling is the most visible manifestation of Kenya’s economic woes. Among other reasons is that the country is importing too much and exporting too little. This makes it susceptible to shocks.
What Is Your Opinion About Using Digital Platforms By The Real Estate Industry?
Home buyers no longer depend solely on offline marketing which includes; newspaper to look for properties. Most of the younger generation prefer looking for properties or update themselves with online marketing platforms. It is becoming mandatory to utilize the digital platform to market properties as opposed to the offline marketing which was the main channel of marketing some time back. Some of the advantages of online marketing include readily available information and flexibility.
How Do the Several Big Projects Such As Lapsset, The Pinnacle Towers and Konza City Development Shape the Future of Kenya’s Construction Industry?
Lamu Port-South Sudan-Ethiopia-Transport (Lapsset)
The project will be a significant contribution to the regional integration vision of a peaceful, prosperous and fully integrated continent. The project will strengthen Kenya’s position as a transport and logistics hub to the East African sub-region and the Great Lakes region. It will also facilitate trade, promote regional economic integration, and interconnectivity between African countries.
It seeks to establish a hub in Africa where different companies with an interest in technology can open offices and industries. The first beneficiaries will be the ICT industry, as the project proceeds more businesses will benefit, and the real opportunity in Konza is not the direct money, but the indirect income that would be earned from the project.
What Goals Regarding Relevancy Do You Intend To Achieve In 2018?
- Increasing our revenue by at least 20 percent.
- Increasing website and online traffic by 40 percent.
In the next five years, what are your aspirations?
Realizing brand Ace Realtors to ensure that it becomes a force to recognize within the market.
What Advice would you give to the readers?
To succeed in whatever business venture one starts, there is a need to be consistent and focused on whatever they are doing. By doing this is when and only when they will break through.