By MORRIS ARON
One of South Africa’s largest independent real estate companies, Pam Golding Properties, has opened up a shop in Kenya.
Pam Golding, becomes the third international real estate player to enter the local market coming soon after private equity firm, Actis, entered into a multi-billion shilling contract to construct one of the biggest shopping malls outside South Africa along Thika Road.
David Golding, the Chief Executive of Pam Golding Properties Group said the company will focus on sales broking, leasing, facilities management, sales, marketing processes and mortgage origination services for all property types.
“With our 35 years of experience across many parts of the world, we are confident that the services we have will add value to clients in Kenya and the wider East African scene,” said Dr Golding.
“Kenya’s real estate market is very vibrant and the future looks bright.”
Acquisition
Following its entry, Pam Golding has acquired Property Link Kenya, a division of the Langata Link Group of Companies, for an undisclosed amount, as it strategically moves to make its presence felt locally.
The firm has taken up eight major developments, including the multi-billion Aberdare Golf Resort.
“We have been eyeing this market for a long time after our research indicated good yields in the residential and commercial property sectors,” said Andy Collette, the Managing Director of Pam Golding Properties—Kenya.
“We want to use this opportunity to make gateways into the wider East African area that has a lot of promise in terms of returns on investment.”
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Dr Andrew Golding (left), Pam Golding Property Group CEO and Andy Collette (right), MD Pam Golding-Kenya chat with founder HassConsult Mohammed Hassanali (second left) and Marketing Manager Sakina Hassanali during the launch. [PICTURE: JENIPHER WACHIE] |
Property analysts say that despite the current economic climate characterized by high interest rates, the real estate sector remains one of the top investment choices in the region.
“What we are currently witnessing in Kenya on the property front is a cyclical price adjustments that are normal for any real estate market,” said Dr Golding
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