Pioneer Mombasa expo opens up coastal town

By Willis OketchThe real estate business in Mombasa has come of age going by the outcome of the first property and homes exhibition held in the coastal town last week.A banner inviting guests to the Mombasa Homes expo.Visitors at the first Mombasa Homes Expo exhibition ranged from locals to foreigners who were all left asking for more. Real estate managers said that for a long time there has been a perception that real estate business was only alive in Nairobi and that the expo did well to dispel this perception. "I realised that without an exhibition most people think that real estate is a preserve of Nairobi, which is not the case," said Maureen Muema, the Managing Director of Ndatani Enterprise Company.More than 40 exhibitors took part at the event, which was supported by Home and Away and held at the Sarova Whitesands Beach Resort.Sai Properties Chief Executive, Harish Shah, said the event, which was the first one of its kind in Mombasa, was a wake up call to the real estate developers by the organisers."For many years the coastal region has been ignored but this time round we are in the market and one should expect better things in the future," he said.Muema said all the exhibitors made brisk business, giving an example of his firm which sold 10 plots in Mombasa to guests from Nairobi.Sold plots and properties"Since the expo started we have sold plots and other properties to some wealthy individuals from other towns who prefer a home away from home," explained Muema.Esther Passaris, former Adopt-A-Light CEO: "I want to appeal to developers to construct houses, which are not a threat to our environment."She acknowledged that indeed a new trend had started where upcountry residents were scrambling for holiday homes in Mombasa.She observed that most of those who chose to go for holiday at the Coast discovered that staying in hotels was an expensive affair and were investing in holiday homes instead. "There is hope for real estate in this town," concluded Muema.Others believed what is needed are frequent expos in the real estate sector so that locals can get to know what is available in the market.During the exhibition, Myspace Properties sold one of the most expensive houses, which was on sale during the expo to an Italian tourist for a whopping Sh182million.The Chief Executive, Mwenda Thuranira, said the house was part of an exclusive collection of houses in Watamu overlooking a white beach.Different financial schemesSenior government officials led by Energy Minister Kiraitu Murungi graced the event and were taken through the various stands by Thuranira, who was one of the organisers. The organisers also confirmed the presence of many dignitaries who were looking for plots or houses to buy.On hand were different banks who explained to the visitors how they could help them get houses under their different financial schemes. Kenya Ports Authority Corporate Manager, Gichiri Ndua, said although the event was for real estate developers, the financial institutions stole the show."The major banks were more aggressive than the developers, showing that the institutions have realised that people are either buying or planning to buy homes in Mombasa," declared Ndua.Ndua, however, expressed disappointment over how some exhibitors failed to live up to the expectation of the visitors."I was not impressed with the interior decorators who did not showcase their service. I hope they will rise up to the occasion next time," lamented Ndua.Like many others, he believes that future expos was the way forward for those interested in owning homes at the coastal town. Beryl Onyango concurred with Adopt A-Light former Managing Director Esther Passaris when she said that there should be proper planning for all developments in the town.Passaris who was the chief guest complained that many developments in Mombasa were clustered due to poor planning, making it inaccessible.Environmental concernsShe criticised the present planning as being unfriendly because pit latrines were being dug in areas where people had dug boreholes. Passaris asked planners to develop houses, which can withstand the new changes in the next 20 years."I want to appeal to developers to construct houses, which are not a threat to our environment," she emphasised.A Nairobi businessman, Milton Owuor, said he was looking for holiday home in Mombasa as it had become too expensive to stay in hotels every now and then whenever he was in town.But as real estate developers embark on an ambitious plan to stage the expo twice a year, there was a feeling that the rate at which modern houses were being put up in Mombasa was threat to the traditional Swahili houses.No room for expansionPatrick Ochwa, a lawyer, foresees a bleak future for Swahili houses in the town in the face of onslaught from modern houses. He says the rush for homes in Mombasa had forced many families to sell their houses in order to create room for high-rise houses.He regretted that there were already high-rise houses in Nyali, Kizingo, Kisauni, Majengo, Mtwapa, Shanzu and Kisauni. The only option for expansion was the outskirts of the town such as Kikambala.Joseph Weloba, a manager in a shipping company said that young professionals interested in owning homes in Mombasa should do it now before the prices inflate."I would like to urge young professionals who want to own homes in Mombasa to do it now or forget it all together because the little space remaining in the town is being sold at exorbitant prices," said Ochwa.Ochwa, however, pleaded with the developers to come up with houses for low-income earners."Despite the economic down turn in the country property market in Mombasa was booming," said Mohamed Balala who visited the expo.Balala said that since Mombasa is the gateway for the vast region including Southern Sudan and being a tourist attraction town, the prices of the homes will be very high in the next two years.Hacienda Development Holdings Managing Director, Adam Tuller, who was among the organisers said his company was putting up affordable houses at Mwakirunge.Low-cost housing"We have put up low cost houses where owners will have their own solar power, water, shopping centre, schools and hospitals," he explained. "The life style which used to be the preserve of the rich can now be enjoyed by the low income earners too. They are my target," he added.Tuller said since everybody’s dream is to own a house, he is putting up affordable houses to make all realise their dreams.Real Wealth Investment Executive, Mr Humphrey Odhiambo, said that finally the organisers had attained their objective, which was to get as many people as possible to see the promise of owning homes in Mombasa.As a result, he said, many companies made reasonable sales following a good response from the market.Mombasa, he believes, has potential for growth in the real estate business.Odhiambo also expressed hope that the expo would be held after every two years."We are promising our clients a big home show at the end of this year at a venue which would be announced later since many would want it in the heart of the town," he said.Best stands awardedHe assured clients that they would improve on areas, which they did not address in the just concluded expo. Kenya Power and Lightning Company topped in the Home Product and Services category followed by Security Option and Wilken Group.In the Information and Communication Technology category, Digital Communication scooped the first slot followed by Access Kenya and The Standard Group.In the Finance category, Housing Finance took the first position followed by Standard Chartered Bank while CFC Stanbic Bank took the third position.In the Real Estate category Hacienda was declared the winner followed by Oakpark Apartments while Royal Beach was third.

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