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developed by NHCC. In fact, the possibility of the deterioration of the economic situation should not be rejected because East African region is still unstable. The growing terrorist threat may decrease the attractiveness of the region to foreign tourists as well as investors. Moreover, it is quite difficult to forecast the rapid decrease of oil prices, for instance, which are vitally important for the region. In the case of crisis, companies operating in the luxury segments of any market will be the most affected because they basically count for a very narrow range of customers, representing the upper classes of society, which are apparently not numerous (Kauranen, 2010). The strategy of the company to focus on the luxury segment of the market is apparently risky. However, if the company focuses on the larger medium segment of the market, it could develop its business worldwide in a larger number of countries. The projects would be less expensive and they would take less time for the realization of return on investment. Consequently, the company would not need a long-term stability as it needs now. For instance, realization of some of its current progress is supposed to take about 25 years. This means that if the situation in the country changes within this period of time the company may fail to accomplish this project and thus, the financial losses of the company will be enormous. Nevertheless, the strategy of targeting the international market expansion is correct in the contemporary economic situation because in the modern globalized economy this is the main strategy that could make the company more competitive and gain the strategic advantages compared to companies operating on the national markets. On the business level, NHCC attempts to develop its cooperation within the Libyan Holding. The major business goal of the company is the high quality of its products and services that leads to the growing customers’ satisfaction. The latter creates a positive image of the brand of NHCC and therefore, makes the company recognizable and opens larger opportunities for entering new markets. It should be said that the focus on the global market can secure NHCC from possible instability in the traditional markets where it is presented. 5. Methodology of study A review of literature was adopted for this study. According to Laaria, (2013) literature review is conducted to determine the status given and is concerned with the gathering of facts rather than the manipulation of variables. In the study the researchers were interested in getting facts from literature on the real estate business with particular interest on NHCC. Literature review is useful in that it not only secures evidence concerning existing situations or current conditions but also identifies standards or norms with which to compare present conditions in order to plan the next step. Studies were identified through an electronic search of the databases such as Science Direct, Web of Science, library files and reference list. In addition, the literature review was extended to the Internet, by use of Google, Yahoo, Baidu, and other internet search engines. Initially 46 articles were identified as potentially relevant for study, of these, 19 articles were excluded based on the title and abstract that did not match the requirements of the study. 27 articles were retrieved for more detailed evaluation, 9 articles were further excluded because they did not meet inclusion criteria. Only 18 articles were reviewed in this study. Figure 1 shows Systematic review flow for the articles reviewed in the study. www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 74
Figure1. Systematic review flow for the articles reviewed in the study 6. Conclusion and Recommendations Thus, taking into account all above it is worthy to conclude that NHCC is a very strategic company. The company has already achieved significant successes being involved in a number of large projects in Uganda. The company has a potential to continue the further market expansion, regardless of the existing problems and challenges, which could be overcome by proper strategic management. There are strengths, opportunities as well as weaknesses in the real estate business (Table 3) and a high potential for growth of real estate in East Africa. In fact, in the current market situation, it is possible to recommend the strategy of the international market expansion because it can improve the position of the company in the global market and facilitates entering markets of developing countries, which are very virgin. www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 75
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