AUGUST – SEPTEMBER JAN – MAR 2016 2017 ISSUE
Tribute to an Icon
COVER PHOTO: Arch. Mariamu el Maawy
at the KPDA Gala Dinner 2016.
IN
THIS
ISSUE
Focus on Policy
Overview on KPDA Activities
NCC Building Permitting Approval Report
Kenya Property Developers Association... Development brings Development!
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PROUDLY SPONSORED BY
The Developer’s
Digest
A KPDA PUBLICATION
Invitation to the End of Year KPDA Corporate
Networking KOROGA Event
#KorogaNaKPDA
Thursday 19 th October 2017 at the Mint Shack Restaurant, Nairobi
An interactive and informal networking event!
15
KPDA BOARD MEMBERS
Mucai Kunyiha
Chairman
Palkesh Shah
Board Director
Emma Achoki
Treasurer
WHERE: MINT SHACK RESTAURANT
(Located along Peponi Road, Nairobi)
WHEN: Thursday, 19 th October 2017
TIME:
6.00pm onwards
The Koroga will run from 6.00pm onwards. Drinks will be
served at a cash bar.
TICKETS FOR THE KOROGA (AUTOMATIC ENTRY INTO THE
RAFFLE COMPETITION)
Members Kshs. 2, 820 (incl. of VAT)
Non Members Kshs. 3, 980 (incl. of VAT)
Companies wishing to register for the cooking competition are allowed to do so and
participate in cooking vegetarian or non-vegetarian starter meals or main meals.
One company may only register to cook one meal.
THE DEADLINE TO RSVP (WITH PAYMENT) IS THURSDAY 12 TH OCTOBER 2017. Kindly send your
confirmations to m.mbogo@kpda.or.ke and cc ceo@kpda.or.ke
NB:
- Please note that registration fees once paid are non-refundable and cannot be transferred
to cater for the cost of attending future events.
- Participants who attend this event without an RSVP will be surcharged at the door
- Kenya Non Members Property will Developers not be allowed Association... to participate Development in this event without brings prior Development!
payment
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From the Secretariat
Tribute to an icon
KPDA Member Profile
Have Your Say
Page 14: The State of Real
Estate In Kenya
Page 18: KPDA Directory of
Members
Hamish Govani
Immediate Past Chairman
Ravi Kohli
Board Director
Kenneth Luusa
Board Director
George Wachiuri
Board Director
Gikonyo Gitonga
Board Director
Caroline Karugu
Board Director
KPDA SECRETARIAT
Margaret Kibe
Board Director
Anne Muchiri
Board Director
Chief Executive Officer – Elizabeth Mwangi – Oluoch
Membership Relations Officer – Maryanne Mbogo
Finance and Membership Support Officer – Grace Hinga
Research, Administration & Membership Intern – Wilson Busaka
Communications Intern – Cynthia Wakio
Finance Intern – Gladys Lang’at
The Secretariat address is :
Fatima Flats, Suite 4B, Marcus Garvey Road off Argwings Kodhek
Road, Nairobi | Tel: + 254 737 530 290 | 0705 277 787
Email: admin@kpda.or.ke | Website: www.kpda.or.ke
DESIGN & LAYOUT:
InsyncMEDIA Limited. Devan Plaza . First Floor . Suite No16
Chiromo Road, Waiyaki Way . Westlands . Nairobi . Kenya
P.O. Box 9510 - 00100 . Nairobi . Kenya
Landline: (+254) 020 4400218
info@insyncmedia.co.ke
www.insyncmedia.co.ke
Kenya Property Developers Association... Development brings Development!
API AWARDS
API AWARDS
2017 AFRICAN PROPERTY AWARDS (API)
WINNERS ANNOUNCED!
KARIBU HOMES AND GARDEN CITY
BAG PRESTIGIOUS AWARDS!
AWARDING EXCELLENCE
Property developers, suppliers and owners recently got the opportunity to showcase
their best projects and services from across sub-Saharan Africa at the first ever Africa
Property Investment (API) Awards held in August this year.
Garden City is East Africa’s first
integrated residential, retail and office
development. Set on 32 acres the
development includes an approximately
45 000m2 shopping mall, over 200
residential apartments and 20 000m2
built-to-suit office space. Developed
by Actis in line with the Kenyan
government’s Vision 2030 the project
has sustainability at its core and features
the largest solar paneled carport in
Africa on the mall’s rooftop parking area.
The developer’s vision was to create a
“live-work-play” environment to cater
to the community in the North-East
suburbs of Nairobi.
Mentor Management Ltd
The Courtyard
General Mathenge Drive
P. O. Box 62899 - 00200
Westlands, Nairobi
Tel: +254(0) 20 3744903/4
Mobile: +254 706 579 790
www.mmlea.com
The awards, announced today at
the API Summit and Expo 2017,
recognises innovation and outstanding
achievement across the entire property
industry in seven categories.
The projects were judged on a wide
range of criteria including location,
infrastructure and transport access,
integration into the environment,
originality of the concept, technical and
architectural quality, services offered,
sensitivity to the local community,
innovation, sustainability, corporate
staff involvement, response to market
demands, financial performance,
occupancy, and the impact of the
project on economic convergence.
The calibre of entries was world class
and the judges had a challenging time
selecting the winners, nevertheless
they managed to hone in on the best
projects.
Here are the winners for each category
from the 2017 Africa Property
Investment Awards.
API AWARDS CATEGORIES:
Karibu Homes is a leading Kenyan
developer of mass market affordable
housing with 1000 homes currently
under development. The developer
has successfully delivered the first
community of affordable housing in
Nairobi having already completed Phase
1 of the project with 285 homes built
and sold. Work on Phase 2 has started
with 500 homes under construction.
Since inception the development has
had a significant systemic impact on
the affordable housing ecosystem in
general with both public and private
institutions actively seeking to learn
something from the development
through site visits, panel discussions and
scholarships.
Karibu Homes
Springette Office Park, Block G, Lower
Kabete Rd, Nairobi
P. O. Box 40063-00100, Nairobi, Kenya
705151515
sales@karibuhomes.com
www.karibuhomes.com
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
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API AWARDS
Best Apartment Kenya – One General
Mathenge by AMS Properties Ltd
AMS Properties Ltd, a pioneer in the
property industry has been developing
properties for almost two decades
now. The brand has a reputation for
investment integrity, quality finishes
and on time delivery. With a proven
track record of over 7,500,000 sq.ft. built
up area being delivered and having
attained several international property
awards, the AMS brand is well respected
in the market and is now a Superbrand.
CONGRATULATIONS TO THE WINNERS!
ABOUT THE INTERNATIONAL
PROPERTY AWARDS
The International Property Awards are open to residential
and commercial property professionals from around the
globe. They celebrate the highest levels of achievement by
companies operating in all sectors of the property and real
estate industry. An International Property Award is a worldrenowned
mark of excellence.
The awards are split into regions covering Africa, Asia
Pacific, Arabia, Canada, Caribbean, Central & South America,
Europe, UK and USA. Participants enter at their relevant
national level and are judged by a highly experienced team
of professionals who cover the whole range of property
disciplines. Companies selected as winners are then invited
to attend a glittering awards dinner for each region and
have the right to use the prestigious logo in their marketing.
The highest-scoring winners from each region are
AMS Properties Ltd
P. O. Box 10713 - 00100, Nairobi Kenya
Phone: +254 20 3660000
Fax: +254 20 3660300
Sales: 0737 267267, 0715 267267
6th Floor, Block 1,
Eden Square, Westlands Road
automatically entered into the overall International Awards,
which ultimately determine the world’s finest property
companies.
Contact our office at +44 (0) 1245 250981
Chelmsford
• The Mill House, Bishop Hall Lane, Chelmsford, Essex,
CM1 1LG, UK
• Phone: +44(0) 1245 250981
• Email: info@propertyawards.net
• Fax: +44(0) 01245 358323
Newcastle
• 6 Higham Place, Newcastle Upon Tyne, NE1 8AF
• Phone: +44 (0)191 230 2269
• Email: info@propertyawards.net
WHY JOIN THE KPDA FAMILY?
KPDA’s current membership is a diverse make up of all industry players including property development firms, real
estate agents and managers, professional firms, industry suppliers, government agencies, institutional investors
and managers and financial institutions who are based both in Kenya and globally. Principally, KPDA champions
the interests of the industry to ensure a better business environment.
In order to join KPDA, the following should be submitted to the KPDA Secretariat:
1. Fill the KPDA Membership Application Form and sign the KPDA Code of Conduct;
2. Attach a copy of your company’s certificate of registration or incorporation and;
3. Make the relevant payment
Submission may be made either physically or electronically.
Kindly contact the Membership Relations Officer, Maryanne Mbogo through the telephone number 0737 530 290
or 0705 277 787 or by email m.mbogo@kpda.or.ke.
Kenya Property Developers Association
Fatima Flats, Suite 4 B, Marcus Garvey Road off Argwings Kodhek Road, Kilimani Area
P. O. Box 76154 - 00508, NAIROBI, KENYA
Telephone: +254 737 530 290/0705 277 787 / Website: www.kpda.or.ke
FROM THE SECRETARIAT
“Our fingerprints do not fade
from the lives that we touch” - Judy Blume
Welcome to the third issue of The
Developer’s Digest for the year 2017.
In this issue we pay homage to an
iconic woman, a woman who positively
affected the built environment in
Kenya, both in her character and
professionalism.
It was terrible news to hear of the
demise of Arch. Mariamu el Maawy,
Principal Secretary for Public Works on
27th September 2017.
Her death brings into perspective the
state of insecurity in this country and our
(failing) efforts at beating terrorism. May
our Lord rest her soul in eternal peace
and be a constant comfort to her family
and friends.
On 19th October 2017, KPDA shall hold
its Corporate Networking Koroga Event
at the Mint Shack Restaurant in Nairobi.
We hope we can count on all of our local
readers being there and joining us to
unwind before we once again go to the
polls and decide on who will rule Kenya!
In this issue you will find a tribute to
Arch. El Maawy, an article on the state
of real estate in Kenya and as usual, our
Directory of KPDA Members.
I am once again calling on all writers
KPDA wishes to welcome our newest members:
• Canaan Properties Ltd
• Endless Africa Ltd
• Lifestyle Estate Holdings
• Sohail Developments Ltd
• Mlima Construction Company Ltd
Welcome to the KPDA Family!
(and potential writers) to send through
their articles to be featured in our Have
Your Say section.
You can write on anything affecting the
industry, both locally and internationally.
Feel free to submit your articles to me
through the email address ceo@kpda.
or.ke
I wish you all a patriotic month of
October…
Elizabeth
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Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
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SPECIAL FEATURE
A TRIBUTE TO AN ICON
ARCH. MARIAMU EL MAAWY
Inna Lillaahi Wa Inna Ilayhi Raji’oun. May our Lord rest your soul in eternal peace.
Arch. El Maawy was first appointed as
the Principal Secretary of Land in June,
2013, commencing her service in the
then Ministry of Land, Housing and
Urban Development.
During her tenure as PS Land, she
was engaged in major programs of
government, which included the
Titling Program that resulted in the
award of thousands of title deeds
including the resolution of the
longstanding Likoni and Kihiumwiri
land crises in Mombasa and Muranga
counties respectively.
She was posted to head the State
Department of Public Works in the
Ministry of Transport, Infrastructure,
Housing and Urban Development in
April 2017.
SPECIAL FEATURE
We continue to remember you Mariamu…
LEFT: Arch. Mariamu at
the KPDA CEO Morning
Learning Session held
on 13th October 2015.
RIGHT: Sharing a
light moment with a
couple of KPDA Board
Directors at KPDA’s Gala
Dinner celebrating the
Association’s 10th Year
anniversary held in 2016.
Receiving a copy of
the KPDA Strategic
Plan 2017 – 2020 as
her Cabinet Secretary
Prof, Kaimenyi
looks on. Arch. El
Maawy endorsed the
Association’s efforts at
improving the Kenyan
real estate sector.
Prior to her appointment, Arch. El
Maawy had served as an Honorary
Treasurer of the Architectural
Association of Kenya (AAK) from 2007
to 2009.
She also served as a member of the
Mombasa Polytechnic University
Council, Chairperson of the Faza Fire
Disaster Fund, member of the Public
Procurement Advisory Board, the
Kenya Anti-Corruption Commission
and the Privatization Commission of
Kenya.
As a close ally and friend of KPDA, Arch.
El Maawy showed her unwavering
support towards the work of the
Association by attending several
KPDA events.
She was also responsible for the strong
ties that KPDA has with the national
government.
Kenyans have lost an icon.
Humble enough
to sign in at the
registration desk
of the KPDA CEO
Breakfast Form held
on 25th August 2015.
Inna Lillaahi Wa Inna
Ilayhi Raji’oun.
May our Lord rest your
soul in eternal peace.
- The KPDA Fraternity
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
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KPDA MEMBER PROFILE
KPDA MEMBER PROFILE
Improving People
Flow in East Africa.
KONE Kenya officially started operations in
August 2014 after a successful acquisition
of Marryat and Scott (Kenya) and Marryat
East Africa (Uganda). Marryat and Scott
was at the time the sole distributor of
KONE products in East Africa since the late
1980s.
At KONE, our mission is to improve the
flow of urban life. As a global leader in the
elevator and escalator industry, KONE
provides elevators, escalators and
autowalks as well as innovative solutions
for maintenance and modernization.
Through more effective People Flow®
Solutions, we make people’s journeys safe,
convenient and reliable, in taller, smarter
buildings. We help cities to be better places
to live in.
We have a dedicated maintenance team on
the ground available 24/7 and a dedicated
Toll Free Call Centre 0800 720 130. You can
learn more about us on www.kone.co.ke.
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
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HAVE YOUR SAY
HAVE YOUR SAY
Property developments are often bigticket
investments with drawn out
timelines and a myriad of risks through
which to navigate. Careful management
of the process is critical as mistakes
can have high-cost implications to
the project. It is in this environment
of intense pressure and uncertainty
that property developers operate.
Hospitality consultants are engaged to
help manage the uncertainty when the
developer decides to invest in this asset
class.
Like their counterparts in other
specialized industries, hospitality
consultants offer their expertise based
on the need of the engagement in
tandem with the stage of property
development. A hospitality consultant
will typically offer professional counsel
and expertise to hotel owners,
developers, operators, restaurants,
clubs, spas and other fields within the
hospitality industry.
It is a commonly held belief that a
hospitality consultant would only
provide operations expertise. On the
contrary, their expertise stretches
into other services such as appraisals,
arbitration, architectural and
engineering, construction and project
management, feasibilities, executive
search, food service, franchise expertise,
legal services, operations review and
sales and marketing, organization
development, research, training,
strategic planning and technology. This
wide range of expertise reflects in the
constituent membership of the body
that represents hospitality consultants
globally, the International Society of
Hospitality Consultants (ISHC).
There are five main stages in a hospitality
investment lifecycle each with a need
for the services of any of the above
hospitality consultants.
STAGE 1: CONCEPT STAGE
At this stage, the developer is in
possession of land. They would want at
this stage to ascertain the best use of the
land with the highest return. This highest
and best use analysis would involve real
estate consultants such as Knight Frank.
If the area has hospitality potential,
a hospitality consultant would be
engaged to determine what the most
viable type of hospitality asset would
work for the area of choice. The role
of the consultant at this stage would
be to undertake market research that
would determine the type of hospitality
asset that would be the best fit for the
area and a financial feasibility study to
determine the most optimal returns that
asset would generate.
In some cases, the developer has the
desire to invest in a particular asset class
such as a hotel, the role of the consultant
would be to refine the concept by
identifying the class of hotel that would
resonate with the supply and demand of
the area.
This intervention is important as
it determines how the final asset
would operate based on demand and
competitive trends. Further, the process
Trianum Hospitality Limited
No. 11 Othaya Road, Lavington
P.O. Box 76576 – 00508, Nairobi
Tel: +254 (0) 2-2317119 / http://www.trianum.co.ke
THE ROLE OF HOSPITALITY
CONSULTANTS IN HOSPITALITY
would give the developer an idea of the
projected cash flows produced by the
asset over a hold period of say ten years
as well as the return on investment and
the projected value of the asset.
It is from this study that the developer
can engage his/her project team to carry
out concept design and preliminary
project costs of the proposed developed.
A strong feasibility study should have a
section on the proposed design brief of
the hotel that would guide the architect
and other members of the development
team.
An important consideration for a
hospitality developer is how the
asset would operate. This is critical
in determining the success of all
subsequent stages in the development
process. The skill and expertise of the
operator will be the single critical factor
in the success of a hospitality investment
and the key to maximizing the value
of the asset. In this regard, a hospitality
consultant can be engaged to carry out
an operator search and selection for a
suitable management company, brand,
or franchise.
They would also assist in contract
negotiation to ensure the developer
is fully aware of the key terms of the
brand contract. Should the developer
desire to engage an international chain,
they should be fully aware of the chain’s
build, fit out and design specifications.
The ideal time for this is at the
preconstruction stage, as incorporating
brand specifications mid construction
would have huge cost implications.
Local consultants that are able to offer
these services include Jones Lang
LaSalle (which has a global footprint),
Barefoot Consultancy, Trianum and PKF.
International consultants may include
HVS (South Africa, UK, UAE, USA & Asia),
W Hospitality (Nigeria), Colliers (UAE),
HTI Consulting (UAE) among others.
STAGE 2: DESIGN STAGE
In the process of detailing the project’s
designs, there will need to use a
hospitality consultant to refine the
hospitality concept with a special focus
on areas related to operation flow
such as the kitchen and laundry. The
advice provided would serve to balance
aesthetics, functionality, and workflow
based on certain ratios that guide
space allocation between the back of
house staff areas, guest spaces and the
interaction of hotel rooms to food and
beverage space across the different
asset ratings.
These ratios and the final workflow and
guest circulation have a direct impact
on the profitability of the asset. It is
not uncommon for the project scope
to change, hence, the developer may
also choose to reach out to a hospitality
consultant for concept refinement.
The consultants’ role would be to work
with the defined concept to ensure
maximized efficiencies of the building.
This may involve some construction
reworks though checks are required
to avoid high-cost escalations. The
hospitality consultant would join the
developer’s core project team to provide
their expertise on space optimization
and workflow that increases profitability.
Hotel operators and independent
consultants, especially senior hospitality
managers, would be able to provide
these services since experience in
operations are paramount in giving the
right advice.
A legal consultant may help define the
contractual interaction between various
operators in cases where spaces within
one asset have different operators such
as specialized spa or health and fitness
operators, specialty restaurants or bars
or casinos.
STAGE 3: CONSTRUCTION STAGE
As mentioned earlier, it is best to start
with the end use of the asset in mind and
select an operator, brand or franchise
at the conclusion of the feasibility
study before the detailed design and
commencement of construction.
In cases where this was not determined
at an earlier stage, the developer may
require an operator introduced once
construction is in progress.
The determination whether the property
would be under a management
contract, owner operated or leased
to a hospitality operator requires the
expertise of hospitality consultants who
are able to present the contractual and
financial implications of the various
business models by projecting the cash
flows between the parties.
Local firms such as JLL, Unlimited
Directions and Trianum with experience
in negotiation and administering
management contracts may be best
placed to handle this task. Additionally,
during the construction period, a
hospitality consultant can be engaged
to procure furniture, fittings and
equipment (FF&E) in accordance with
the operator’s standards.
Many international brands have very
detailed brand specifications that are
not easy to meet within the local market
hence requiring international sourcing
and long lead times. Consultants such as
Turea (Kenya), Hotel Spec (South Africa)
and WATG (UK) offer these services and
work closely with interior designers and
operators to purchase the right quality
and quantity of items.
STAGE 4: PRE-OPENING STAGE
Once construction of the hospitality
asset is complete, handed over and the
FF&E is in place, it is the time to put all
the final pieces together. This includes
the procurement of operating supplies
and equipment (OSE), installation
of information, communication and
technological (ICT) as well as financial
systems, establishing of procuring
licenses and permits and hiring and
training of staff to be able to deliver the
required level of service.
Again, hotel operators and independent
consultants, especially senior hospitality
managers, would be able to provide
these services. In addition, specialized
consultants like OKAL or HVS Executive
Search for training and recruitment or
Hospitality Systems Consultants (HSC)
for ICT system set up may be required.
STAGE 5: MANAGEMENT
AND EXIT STAGES
Hospitality consultants help the investor
achieve their objectives by de-risking the
development in the early development
stages; however, making the investment
viable during its operation life cycle
is what ensures achievement of the
owner’s objectives and maximization of
returns.
If an operator is managing the day-today
operations under a management
contract, then the role of asset managers
like CHM (USA) and valuation specialists
like HVS (South Africa) and JLL (Kenya)
is crucial in tracking performance and
developing strategies for continuation
or exit. These firms can also handle the
valuation and brokerage should exit
become necessary.
In conclusion, the role hospitality
consultants play in the development
of hospitality assets depends on the
requirements of the developer; however,
it is best to engage a consultant at the
start of the project to minimize both
development and operating costs and
risks, which in turn lead to higher returns.
By Samantha Muna, Managing Director
Robert Kimani, Business Development
Executive
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
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KPDA PARTNERS PROFILE
KPDA PARTNERS PROFILE
TOWN AND COUNTY PLANNERS
ASSOCIATION OF KENYA
INTRODUCTION
Town and County Planners Association of Kenya
(TCPAK) is registered and approved professional
association for town planners, land use or
physical planners in Kenya.
In line with the Constitution of Kenya 2010, TCPAK
motto is “Better Towns, Counties and Country”.
The association is a member of the International
Society of City and Regional Planners (The
Hague, Netherlands). As a member of the
international community, TCPAK promotes the
United Nations Sustainable Development Goals
and the New Urban Agenda.
Vision: To be the premier and leading town,
county, regional and country planning
association of choice in Kenya and the world.
Mission: TCPAK exists to advance sustainable,
integrated and inclusive association for the
benefit of town and county planners by
fostering professional growth of members,
advancing planning knowledge and
technologies, conducting research and
professional development programs as well as
championing the rights of the planners.
Value Statement: A responsive association of
town and county planners which is professional,
accountable, democratic and mutually
responsive.
NATIONAL COUNCIL
The Association is run by 8-member national
council – Chairman, Vice-Chairman, Secretary;
Treasurer, Registrar, Assistant Secretary,
Assistant Treasurer and Assistant Registrar. The
current membership of the national council is
outlined below.
Chairman - Mairura Omwenga
Mr. Omwenga is a civil engineer/town
planner and EIA expert. He is holder of
BSc (civil engineering) and MA (urban and
regional planning) and a registered PhD
candidate. He serves as coordinator of the
International Society of City and Regional
Planners (ISOCARP, Nairobi Liaison Office). He
is a member of AAK Town Planners Chapter
and associate member of the Royal Town
Planning Institute (UK). He has previously
served as member of Kenya Physical Planners
Registration Board.
Mr. Omwenga is a member of Institution
of Engineers of Kenya (IEK) and registered with the Engineers Board of
Kenya(EBK), Physical Planners Registration Board, and NEMA. Currently Mr.
Omwenga is a lecturer at the University of Nairobi, College of Architecture and
Engineering and runs a consulting firm-Kenmt Bill Engineers and Planners. He
has been a consultant to a number of local and international organizations
including national/county governments, UN-Habitat), UNDP, World Bank, JICA
and African Development Bank.
Vice Chairman - David Gatimu
Mr. David Gatimu, Vice Chairman, is an
alumnus of Oxford Brookes University and
a practicing urban planner in the public
sector. He is currently the Chief Officer,
Lands, Housing and Spatial Planning -
Kiambu County Government. For a long
time, Mr. Gatimu worked in the city planning
department of the Nairobi City Council.
Secretary
- Juliet Rita
Juliet Rita holds a BA (Urban
and Regional Planning) of
University of Nairobi and
MSc (Infrastructure planning)
from the University of
Stuttgart, Germany. She is an
expert in transportation and
infrastructure planning, urban
planning, and environmental
and social assessment (ESIA).
She is a registered physical
planner and EIA/EA lead expert
with NEMA. She is the Chair
AAK Town Planners Chapter, a
corporate member of TCPAK
and also the International
Society of City and Regional
Planners (ISOCARP). She has
worked in government and
also the private sector.
Treasurer
- Esther Muthoni
Muthoni holds a BA (Urban
and Regional Planning) of
University of Nairobi, and MSc
(Geo-information Science and
Earth Observation in Urban
Planning and Management)
from the University of Twente
(ITC). She is a registered and
practicing physical planner, and
a corporate member of TCPAK
and the AAK - Town Planners
Chapter. She has about ten
years professional experience
in urban/physical planning,
research and development,
and GIS operations. Muthoni is
currently the Vice-Chair of the
Physical Planners Registration
Board. She runs a consultancy
firm – E&G Spatial Consultants
Ltd.
Vice Registrar - Betty Ong’injo
Registrar
- Collins Nthuni
Mr. Collins Nthuni holds BA
(urban and regional planning)
of University of Nairobi. He
is a registered and licensed
by the Physical Planners
Registration Board. He is a
member of the International
Society of City and Regional
Planners (ISOCARP, The
Hague/Netherlands) and
Royal Town Planning Institute
(UK). Currently, Mr. Nthuni
is employed as a physical
planner in Kenya Wildlife
Service. He has previously
worked with Kenmt Bill
Engineers and Planners. He
has worked with and is still
a consultant to a number
of major organizations
including Airtel, Safaricom
YES Housing Sacco, FEP Group
of Companies and various
national/county government
departments.
Miss Betty Ong’injo is a holder of BA (Urban and Regional
Planning) and currently pursuing M.A (Urban and Regional
Planning) of the University of Nairobi. She previously worked
at Kenmt Bill Engineers and Planners. Presently, she is a town/
physical planner at Real Plan Consultants. She is a member of
the AAK Town Planners Chapter.
Assistant Secretary
- Philip Olale
Mr. Olale is a graduate of
the University of Nairobi
and holds BA (Urban and
Regional Planning) and MA
(Environmental Law) from
Centre for Advanced Studies
in Environmental Law and
Policy (CASELAP) University
of Nairobi. He has a bias
research interest in land use
planning law, transportation/
infrastructure planning
and environmental law. His
professional engagements
and experience has over
the years focused on
project management and
coordination, preparation of
master plans and physical
development plans;
environmental impact
assessment, strategic
environmental assessment;
land and land use policy,
sustainable
human
settlements. He previously
worked at Kenmt Bill
Engineers and Planners and
also Architectural Association
of Kenya (AAK). He is currently
employed as assistant lecturer
in the University of Nairobi
and also research associate at
the Centre for Urban Research
and Innovations.
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
11 12
KPDA PARTNERS PROFILE
KPDA FEATURE
TCPAK ACTIVITIES AND ENGAGEMENTS
Legislation Agenda
In the recent years, TCPAK members have
participated in the review of various Acts
and Bills of Parliament and engaged
committees of both the Senate and
National Assembly. Some of the Acts and
Bills reviewed include the Land Act, Land
Registration Act, Community Land Act
and the Physical Planning Bill 2015.
Policy and Guidelines
The Association and its members
have contributed in the review and
formulation of policy, regulations and
standards. Some of the policy and
regulation items include - county spatial/
urban land use planning oversight and
monitoring guidelines, national land use
policy, and national spatial plan.
National State Agencies
TCPAK has developed useful working
relationship with many national
government ministries, departments
and state agencies.
These agencies include the Ministry
of Lands and Physical Planning, the
State Department for Housing and
Urban Development, National Land
Commission, LAPSSET, Kenya Power,
KENGEN and the KWS.
Town and County Governments
The Association and its members are
spread in all counties in Kenya. As a
professional association of town and
county planners, the Association has
nurtured close working relationships
with county governments directly and
through the Council of Governors (COG).
Town and County Planning and
Development Conference
The new Kenya Constitution 2010 has
identified towns and counties as the
engine and focus of development. To this
end, TCPAK plays host to the annual Town
and County Planning and Development
conference, 8th to 10th November every
year.
This premier event attracts professionals,
national/county government officials,
private sector and the academia.
World Town Planning Day
The World Town Planning Day is marked
annually on 8th November. Globally, the
event is coordinated by the International
Society of City and Regional Planning
(ISOCARP, The Hague/Netherlands). As
members of ISOCARP, AAK Town Planners
Chapter and TCPAK have been hosting
this event here in Kenya since 2008.
Town Awards of Excellence
Town Awards of Excellence is a brain child
of TCPAK. This annual Award is given to
individuals, corporate and state agencies
in recognition of their efforts to making
towns and counties better places to live,
work and invest in.
UPCOMING EVENTS
THE ASSOCIATION INVITES ALL TO THE UPCOMING EVENTS LISTED BELOW:
ISOCARP Congress 24th – 27th October 2017
Portland Oregon, USA
The International Society of City and Regional Planners
(ISOCARP) 53rd Congress will be held over the period
24th – 27th October 2017, Portland Oregon, USA. TCPAK
Chairman is member of the congress committee and chair/
rapportuer for Track 1 on Infrastructure, Buildings and
ICT. For more information on this ISOCARP International
Congress, visit the ISOCARP official website at https://
isocarp.org/
Town and County Planning and Development
Conference 2017
The Town and County Planning and Development
Conference, 6th - 8th December 2017, will be held at the
Travellers Beach Hotel in Nyali, Mombasa. This event will
also mark the annual World Town Planning Day and Town
Awards of Excellence 2017. Registration for this 3-in-1
event is now open and further details can be obtained
from the TCPAK secretariat.
MEMBERSHIP AND CONTACT ADDRESS
Membership
TCPAK membership categories include - Fellow,
Corporate, Institutional, Graduate, Associate, Technician,
Student, Honorary, Visiting, and Firm.
Contact Address
The Association Secretariat address is as outlined below:
Physical Address:
Block 2, White Court, Galana Road, Kilimani, Nairobi
Email:
tcpakassociation@yahoo.com; info@tcpak.com;
Cell: (+254) 0725 028 572
Website: www.tcpak.com
THE STATE OF REAL ESTATE IN KENYA
Kenya’s real estate market like any other
in the world operates in cycles. Our cycles
tend to start after a general election and
end with the next general elections.
2017 will be an election year and the
slowdown in uptake, drop in prices and
the increasing number of vacancies is a
telltale sign that the market is adopting
a wait and see attitude.
Real estate however, continues to
remain one of the most sort after sectors
of investment in the Kenyan economy.
The simple reason behind this is
twofold. One of the main reasons is due
to its proven status as a safe investment
with little risks and guaranteed returns
given the ever appreciating value of
land. Second and most importantly, the
Kenyan population. A huge part of the
Kenyan population have an underlying
endeavour to one day own part of the
earth’s crust (land) in order to actualize
their ever existing ambition of land
ownership.
2017 has thus far been a very interesting
year. This is due to the fact that late last
year, the Cabinet Secretary in charge of
Land and Physical Planning had issued
a freeze in the renewal of leases and in
fact any dealings in land in several parts
of the country including Kajiado County
as a measure of moving in to curb fraud
that had become rampant perpetuated
on unexpecting land owners.
The ban brought a temporary state
of inactivity in terms of slowing down
investment in those affected areas. The
real estate sector thus experienced a
temporary drop in the overall amounts
spent by investors to acquire disposition
in land.
Come May of 2017, the Cabinet
Secretary reversed his temporary ban
on the renewal of leases and dealings
in land from the affected areas and
the sector once again became vibrant
with investment in land going back to
previous highs.
Whereas land ownership remains a vital
part of the real estate sector, various
other avenues exist as viable investment
opportunities in as far as real estate is
concerned. This include construction,
agency management, commercial and
13
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
14
KPDA FEATURE
THE STATE OF REAL ESTATE IN KENYA
rental letting just to mention but a few.
Construction remains the all-time crown
jewel that has attracted both local and
international arrival firms to partake
in the booming Kenyan construction
sector.
KPDA FEATURE
The Tallest Building in Africa to
be constructed in Kenya!
The mighty peaks of Kilimanjaro and
Kenya are the highest points in Africa,
towering over the East Coast nations.
The mountains will soon be sharing a
skyline with a man-made behemoth
named simply: “The Pinnacle.”
The Pinnacle is a joint venture between
Hass Petroleum Group’s real estate
subsidiary Jabavu Village and Dubai
based investment firm White Lotus
Group. Upon completion, The Pinnacle
will tower at a height of 300 meters
above the ground with 70 floors and
estimated to have construction costs
totalling Kshs.20 Billion.
Construction of The Pinnacle.
The artistic building that President Uhuru Kenyatta laid its foundation on 23rd May,2017. It wiill be the tallest one in Africa.
An example of a shipping container home in the UK.
Located in Upperhill in Nairobi, The
Pinnacle will be the tallest building
in Africa and therefore making it the
biggest real estate project in the country
currently. The Pinnacle is set to house
among other things, 5-star hotel The
Hilton, a 5-star restaurant, 42 floors
of residential apartments, 20 floors
of Grade A offices, 5 floors for retail
shopping, 3 floors of basement parking,
a gaming zone and a luxury mall spread
across 3 floors.
There can be little doubt that Africa’s
tallest tower will raise Nairobi’s profile
higher on the world stage.
Innovations in Building
The shortage of residential houses can
be curbed by embracing alternative
building technologies such as the
conversion of shipping containers to put
up affordable housing. Containers are
mobile and relatively cheaper to make
one’s house a ‘home.’ Unfortunately
stigmatization and negative perception
makes Kenyans believe that such houses
belong in the ghettos alongside mabati
structures.
If the culture could be changed, one
could modify and re-purpose used
shipping containers and stick them
together to build a house. Architects,
designers and builders have actually
found a way to transform big boxes of
steel into beautiful and fully-functional
homes. With proper planning, one
can endeavor to design and build a
luxurious house for half the price of a
“normal” house. (https://www.24hplans.
com/top-20-shipping-container-homedesigns-and-their-costs/)
In the UK, there are prefabricated
shipping container houses sold for as
little as $15, 000 (Kshs. 2.07M). A big
and luxurious house made of shipping
containers can cost more than $200, 000
(Kshs. 27.6M), but this is one half of the
price of a regular construction that has
the same size.
Shipping container homes are the hot
new trend in the UK and American real
estate sector.
The introduction of Real Estate
Investment Trust
The past decade has seen significant
growth in most key sectors of the
Kenyan economy, thanks to a vibrant
private sector and the ever-increasing
foreign appetite for investments in
Africa. Indeed, Kenya has been the
preferred hub for multinationals and
other international organisations with
operations in East and Central Africa.
In response, the Kenyan Government
has invested heavily in infrastructure
development, while taking steps to
improve the legal and regulatory
framework in key sectors of the
economy.
Evidence of investor confidence in the
Kenyan real estate and construction
market, especially in relation to
commercial property, is Old Mutual
Property’s recent investment in the
Two Rivers Mall. UK-based Old Mutual
invested KES 6.4 billion in the holding
company of Centum’s Two Rivers Mall,
giving it an equivalent 50% stake in the
firm.
The country has also seen investments
from the Delta Africa Property Fund,
Retail Africa and Abland – all from
South Africa. AVIC International Holding
Corporation of China is also expected to
invest over US$ 200M in constructing
their Africa Headquarters in Nairobi.
The multi-user development has been
reported to contain the highest office
block in East Africa and will undoubtedly
reshape Nairobi’s skyline.
The spill-over effect of this increased
demand for real estate, however, is the
high cost of developing new property.
The market is facing extreme under-
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
15
16
KPDA FEATURE
THE STATE OF REAL ESTATE IN KENYA
supply especially in housing for the
lower segment of the populace; so
much so that a tax incentive was recently
introduced into law which entitles
developers who put up at least 400 low
cost residential units to pay a reduced
corporation tax rate of 15% (down from
30%).
It is against the backdrop of the
enactment of the Capital Markets (Real
Estate Investment Trusts) (Collective
Investment Schemes) Regulations, 2013,
that the Nairobi Securities Exchange
became the fourth African bourse to
launch the Real Estate Investment Trust
(REITs) market in the 2013.
REITS are regulated investment vehicles
that enable collective investment in
real estate. Investors, both retail and
corporate, pool their funds under the
REIT umbrella to invest in real estate
projects.
The launch of REITs was meant to
further enhance financial inclusion in
Kenyan capital markets. REITs would
provide average investors belonging to
the growing middle-income segment
the opportunity to invest in large-scale
commercial, residential and industrial
properties, without requiring large sums
of money. It was hoped that investors
would gain from (i) the income and
capital appreciation of the portfolio of
properties in which a REITs fund was
invested and (ii) the creation of a liquid
market in immovable property.
REITs in Kenya are structured as trusts
rather than companies. The properties
are held in the name of a corporate
trustee who is the custodian of the REIT
assets but managed by a corporate
REIT manager. There are two types of
REITs - development and construction
REITs and income REITs. Securities
in the former can only be offered to
professional investors who understand
development risks. However, income
REITs can be offered to both professional
and retail investors.
The first income REIT was listed at the
Nairobi Securities Exchange late last year
by Stanlib, which is controlled by the
Liberty Group of South Africa. As at 10
Feb 2017, the Stanlib Fahari income REIT
ranked 32nd on the Nairobi Securities
Exchange in terms of returns to investors
with a year-to-date loss of 9.62%.
Registered REITs are a tax efficient
structure, in that, except for the
payment of withholding tax on interest
income and dividends, the REIT itself is
not subject to income tax. Additionally,
instruments used in the transfer of
property to listed REITs are exempt from
stamp duty.
The launch of REITs was
meant to further enhance
financial inclusion in Kenyan
capital markets. REITs would
provide average investors
belonging to the growing
middle-income segment
the opportunity to invest
in large-scale commercial,
residential and industrial
properties, without requiring
large sums of money.
Going forward, specialised REITs could
be encouraged in Kenya, especially
those relating to low and medium cost
residential properties, which are seeing
higher returns than high cost properties
and where there is a lot of demand.
This will also allow for more development
of housing for this group. While the
performance of Kenya’s first REIT may be
somewhat disappointing, it is expected
to grow in popularity as its long term
investment potential becomes apparent
to investors.
The Kenyan Building Code
As is known, the majority of the Kenyan
population are middle income earners
and a larger portion of these are low
middle income earners earning between
Kshs. 50, 000 to Kshs. 75, 000 gross
monthly income per household. These
citizens desire to own affordable homes
and one of the factors that undermine
efforts by the private sector to provide
affordable housing is archaic policies
such as the 1967 Kenyan Building Code.
The Code restricts the material type to
be used in permanent construction such
as brick and mortar and disregarding
cheaper and stronger material such
as coral stones or other types of
materials used in alternative building
technologies.
It is important for the government to
work closely with the private sector
to ensure that the law governing
construction in this country are current
and applicable so as not to negatively
impact the real estate industry.
Despite it all, the real estate market in
Kenya is alive and well, in fact if you’ve
been waiting to jump on to the market
and invest, there has never been a better
time than now.
REFERENCES
1. http://www.constructionkenya.com/4029/africatallest-building-nairobi-kenya/
2. https://www.standardmedia.co.ke/business/
article/2001241024/nairobi-is-reaching-for-newheights-with-the-pinnacle
3. https://www.24hplans.com/top-20-shippingcontainer-home-designs-and-their-costs/
4. http://www.nation.co.ke/lifestyle/DN2/Would-youlive-in-a-container/957860-3016734-1vefwq/index.
html
5. https://www.alibaba.com/product-detail/
prefabricated-houses-in-kenya-containerhomes_60387658653.html
6. http://www.skyscrapercity.com/showthread.
php?t=1827593
7. http://africabusinesscommunities.com/features/
the-kenyan-real-estate-market-and-the-introductionof-real-estate-investment-trusts/
8. http://www.bowmanslaw.com/country/kenya/
9. http://www.arkconsultantsltd.com/real-estate-sectorkenya-review-2016-forecast-2017-reginald-okumu/
KPDA DIRECTORY OF MEMBERS
KPDA DIRECTORY OF MEMBERS IN GOOD STANDING AS AT 30TH SEPTEMBER AUGUST 2017
In order to join KPDA, the following should be submitted to the KPDA Secretariat:
1) Fill the KPDA Membership Application Form and sign the KPDA Code of Conduct; 2) Attach a copy of your company’s certificate of registration or
incorporation and; 3) Make the relevant payment
PREMIUM MEMBERS
Ali Fabrication Solutions Ltd
Bamburi Cement Ltd
Britam
Diamond Property Merchants
Fusion Capital
HF Development and Investment Ltd
Imaran Real Estate Ltd
KCB Bank
Kone Kenya Ltd
Mabati Rolling Mills Ltd
State Department For Housing And
Urban Development
Mmc Africa Law
Newline Ltd
Newmatic Africa Ltd
Savannah Cement Ltd
Synthesis Systems Ltd
Tandem & Stark Ltd
Vaal Real Estate Ltd
Yasian Technology Company Ltd
CORPORATE MEMBERS
Acorn Management Services Ltd
Actis Africa Ltd
Africa Reit Ltd
Africa Infrastructure Development
Company (Aidc)
Ahcof Investments (Kenya) Ltd
AMS Properties Ltd
Bahati Ridge Development Ltd
Blueline Properties Ltd
Boleyn Magic Wall Panel Ltd
Camelot Cosultants Ltd/Lantana Homes Ltd
Century City Property Ltd
Cheriez Properties Ltd
Chigwell Holdings Ltd
Coral Property International Ltd
County Home Developers Ltd/Runda
View Ltd
Cytonn Real Estate
Daykio Plantations Ltd
Dream Home Construction
Company Ltd
Dunhill Consulting Ltd
Edifice Ltd
Elm Ridge Ltd
Enkavilla Properties Ltd
Fedha (Management) Ltd
Glamart Properties Ltd
Hass Consult Ltd
Heri Homes Properties Ltd
Homescope Properties Ltd
Ijenga Ventures Ltd
INFPAC Ltd
Jabez Properties
Kamhomes Investment Ltd
Karibu Homes
Karume Holdings Ltd
Kings Developers Ltd
Kzanaka Ltd
Kenya Property Developers Association... Development brings Development!
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KPDA DIRECTORY OF MEMBERS
KPDA DIRECTORY OF MEMBERS IN GOOD STANDING AS AT 30TH SEPTEMBER AUGUST 2017
KPDA DIRECTORY OF MEMBERS
KPDA DIRECTORY OF MEMBERS IN GOOD STANDING AS AT 30TH SEPTEMBER AUGUST 2017
Leo Capital Holdings Ltd
Parmalen Investments Ltd
Thika Greens Ltd
Classic Mouldings Ltd
K.Mberia and Partners Advocates
Mereka & Co. Advocates
Paragon Architects
Soita & Associates Advocates
Lordship Africa
PDM (Kenya) Ltd
Unity Homes Ltd
Coulson Harney Advocates
KN Associates LLP
Mohammed Muigai Advocates
Private Sector Development Trust
Spearhead Africa Ltd
Manrik Group
Pediment Developers
Pentagon Properties Ltd
Urban Nirvana Property Solutions Ltd
Davis & Shirtliff Ltd
Knight Frank Kenya Ltd
Murimi And Company Advocates
Property Link Africa Ltd
Stanlib Kenya Ltd
Meera Construction Ltd
Pioneer Holdings (Africa) Ltd
Property Reality Company Ltd
Vishwa Developers Ltd
Endless Africa Ltd
DLR Group Africa Ltd
Emerge Developments Ltd
Koto Housing Kenya
Laser Property Services Ltd
Nabo Capital Ltd
Nanchang Foreign Engineering
Company (Kenya) Ltd
Questworks Ltd
Ratemo & Company Advocates
Steel Africa Limited
Sterling & Wilson Private Ltd
Mentor Management Ltd (Mml)
Moad Capital
Mugumo Developments Ltd
Rozana Properties Ltd
Sayani Investments Ltd
Shreeji Development Ltd
ASSOCIATE MEMBERS
Anjarwalla & Khanna Advocates
Aspenn Global Mobility Consultants
Focus On Property Ltd
Galaxy Heritage Ltd
Geokarma Construction Ltd
Mahida And Maina Company Advocates
Mboya Wangong’u & Waiyaki Advocates
Mehta Electricals Ltd
Nomadic Tents (K) Ltd
O & M Law Llp
Oraro & Company Advocates
Re/Max Heritage
Rhombus Concrete Ltd
Saj Ceramics Ltd
Town And County Planners Association
Of Kenya (TCPAK)
Canaan Properties Ltd
Mwanzoni Ltd
Sigimo Enterprises Ltd
Axis Real Estate Ltd
Global Property Advice
Menezes And Partners Advocates
Pam Goldings Properties Ltd
Secureman Services Ltd
ecureman Services
Limited
S
“ Your Security, Our Duty”
Usafi Comfort Ltd
Nanyuki Mall Ltd
Simba Corporation Ltd
Spartan Developers Ltd
Broll Kenya Ltd
Green Kenya Corporation Ltd
Honeywell Technologies (K) Ltd
DID YOU KNOW?
KENYA PROPERTY DEVELOPERS ASSOCIATION
Natureville Homes
Superior Homes Kenya
Buy Rent Kenya Ltd
Intex Construction Ltd
WHAT ARE SOME OF THE BENEFITS OF BECOMING A KPDA MEMBER?
Oakpark Properties Ltd
Optiven Limited
Paradigm Projects Ltd
Tatu City Ltd
Tilisi Developments Ltd
The Epic Properties Ltd
Cemex Holdings Ltd
CFL and Company Advocates
City Engineering Works (K) Ltd
Jones Lang Lasalle (Pty) Ltd (Jll)
Kanaga & Associates
Karanja Njenga Advocates
1. Advocacy that champions the interests of the industry to both the public sector and the wider private sector to
ensure a better business environment for the property industry;
2. Information on the latest issues affecting the industry, via regular publications, newsletters, media reports and
research;
3. Networking events, putting members in touch with industry leaders and potential clients;
4. Professional development courses which reflect the changing nature of the property industry;
5. Marketing opportunities for member companies with discounts offered to various advertising platforms;
6. Discounted rate at both KPDA events and events organized by international and regional organizations in the
building and construction industry;
7. Access to emerging markets and exposure to joint venture opportunities.
Kenya Property Developers Association... Development brings Development!
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The Developer’s
Digest
A KPDA PUBLICATION
MEDIA PACK 2017
The Developer’s Digest is a bi-monthly
e-newsletter supported and published
by the Kenya Property Developers
Association and designed by Insync
MEDIA Limited. It targets the various
players in the property industry in
Kenya and highlights a wide spectre
of issues affecting our members, other
professionals, manufacturers and both
private and public sector players in the
industry. We seek to encourage positive
dialogue and development.
The Developer’s Digest is filled with
current industry news, updates on the
Association’s ongoing activities, views,
interesting facts and specialty advertising
messages.
It is a free downloadable Mobile App
onto any mobile device.
We at The Developer’s Digest will work
with you to create the most effective
multi-platform advertising strategy that
will ensure you reach your targeted
consumer every direction they look. After
all, the distance between you and your
consumer, is no longer a straight line.
If you take up advertising with The
Developer’s Digest, we are also willing to
offer you an opportunity for you to have
interactive banner advertisements on our
website.
Kindly contact the Secretariat on 0737
530290 or 0705 277787 or by email
admin@kpda.or.ke.
ADVERTISING RATES
Quarter (1/4) page: Kshs. 15, 000
Third (1/3) page: Kshs. 20, 000
Half (1/2) page: Kshs. 30, 000
Full page: Kshs. 60, 000
DIGITAL INPUT/MECHANICAL
REQUIREMENTS — BANNERS
300dpi resolution; colour calibration RGB;
not larger than 20 MB; jpg format OR pdf
PRESS QUALITY format with outlined text.
NOTE: PDF/X 1-A or Adobe® Acrobat® distilled
PDFs. PDFs exported from Photoshop are
discouraged and can lead to less than
desirable results.
WHY ADVERTISE THROUGH THE
DEVELOPER’S DIGEST?
We have a readership of over 1, 300
people who are drawn from our
membership, partners as well as industry
affiliates both locally and regionally.
We offer a unique, flexible, converged
media mix that helps advertisers
communicate their message effectively.
This includes our website, e-newsletter,
social media platforms and focused
events (such as our training and
networking forums as well as our social
interactive sessions).
We keep track of our readership and are
sensitive to emerging issues in the industry.
It is a free and interactive online
publication.
DIGITAL INPUT/MECHANICAL REQUIREMENTS — ADVERTS
SIZE WIDTH DEPTH
1/4 page (horizontal) 184.5mm 65mm
1/4 page (vertical) 90mm 125.5mm
1/3 page (horizontal) 210mm 90mm
1/3 page (vertical) 68mm 270mm
1/2 page (horizontal) 210mm 139mm
1/2 page (vertical) 105mm 265mm
Full page (theme colour) 210mm 247mm
Full page 210mm 297mm
ADVERTS SUBMISSION:
The adverts should be submitted as Adobe PDF files with the above
specific measurements for the desired advert and NOT a flat image PDF
exported from Photoshop.
ONLINE ADVERTISING TERMS & CONDITIONS:
Payment is due within 15 days from when an invoice is issued. Banner ads may be pulled if account
balances are not paid by the due date. As space is limited, banner ads are sold on a first come, first
served basis. All advertising is accepted subject to the publisher’s approval upon determination
that the products or service advertised are in keeping with The Developer’s Digest’s philosophy.
Kenya Property Developers Association... Development brings Development!
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