The Developers Digest Q1 Issue

23
Have Your Say
terms that take into consideration their growth
potential rather than pricing them out of
worthwhile investments over a lack of high initial
capital.
• A simplified legal process and communication
is key. Zoomers don’t lack intelligence; they
just prefer to skim through the details. Having
legal documentation that is easy to read and
digest helps secure their attention faster, while
a process that focuses on speed and instant
communication is their preferred way of sealing
the deal.
• A youthful and agile sales team will have better
success signing up young people, who relate
better to their peers as compared to older groups.
Retaining confident, adaptive, and creative
personalities at the forefront of your marketing
strategy ensures you keep a pulse on Zoomer’s
trends even as you direct them toward real estate
investments.
One thing is for certain: the Generation Z
demographic cannot be ignored as an emerging
stakeholder in the built environment. They are the
future investors and off-takers in real estate projects
across our urban areas, and developers must adjust
their mindset and consider structuring their products
in line with the needs of this new generation.
About the Author:
Fidel Mwaki is an advocate of the High Court of Kenya
with extensive knowledge and experience in real
estate whose practice currently centres on real estate
developments and related commercial transactions.
He represents clients developing multi-use commercial
and residential real estate projects including advising
on structuring joint venture arrangements and project
documents such as construction contracts, agency
agreements, sale agreements and long-term leases.
Adopting a Long-term Perspective in the Real Estate Sector