Developer eyes piece of Sh130b diaspora cash

LEFT: Ndatani Enterprises Company Ltd Managing Director Alex Muema ,his wife Moureen,Kitui West Mp Hon.Francis Nyenze's wife Edith and Nyenze (RIGHT) cut a cake to mark 20 years anniversary at SixEighty Hotel on Thursday 10th ,2015 in Nairobi.PHOTOS:DAVID GICHURU/STANDARD

Real estate developer Ndatani Enterprises is targeting the Sh130 billion annual remittances from the diaspora to broaden its business. To increase its investment profile, the developer seeks to tap into the diaspora and county governments’ potential by increasing its property value chain.

From dealing with land blocks of up to 10,000 acres, Ndatani now looks forward to get into the upper market with schemes and gated communities but more so housing developments mainly bungalows, flats and commercial buildings. “We have to keep up with the market trends, so we are moving to more integrated development projects of self-sustainable gated communities,” said Ndatani Chairman Alex Muema during its 20 year anniversary celebration.

Muema said such real estate products are what attract more of the diaspora community as they seek to maintain their lifestyles when they finally move back to the country. “This community remits about Sh10 billion monthly back to the country most of which goes to the real estate investments. Currently, they only account for 20 percent of our business.”

To this end, Ndatani has already opened bureaus and agencies in Dubai, Botswana, Namibia, United Kingdom and the United States with a vigorous expo campaign in place from 2016 to woo more investments. Ndatani Enterprises is majorly a middle class targeted real estate company that provides affordable low cost housing to Kenyans with the aim of increasing home ownership by this rather ‘neglected’ group by large financial and real estate companies.

This is through subdividing parcels of land into smaller plots of an eighth before collaborating with majorly micro-finances to facilitate buyers. To increase the affordability of the homes, Ndatani has adopted ‘Green Housing Policy’ that will incorporate bio-digesters in waste management, solar as well as wind energies.

Geoffrey Kilonzi from Rafiki Micro finance, a subsidiary of Chase Bank noted that through group financing, many middle income earners are able to afford homes. “This spreads the risks and does not require a lot of collateral which gives financiers confidence in lending them the needed money for purchasing their dream homes,” said Kilonzi.