The Developer's Digest, August - September 2017 Issue

kpdadevelopers

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!

19

20


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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