Bamburi Cement Plc, has signed a partnership with real estate firm AMG Realtors, in a bid to support diaspora landowners to build their homes in a transparent construction process in Kenya.
Due to the integrity issues that home-builders face in Kenya, Bamburi has entered this partnership through its Maskani Initiative to provide end-to-end construction technical advice and building solutions to diaspora customers who have purchased land locally and seek to further develop their property, which includes 70 percent of AMG Realtors clientele based abroad.
Speaking during the partnership ceremony, Bamburi Cement CEO Mr. Seddiq Hassani said both organizations will leverage their operational expertise to deliver complete homes to the customers in a smooth process.
“This partnership is anchored on our innovative approach, a consistent track record, credibility and our expertise aimed at delivering housing to this market. Through Maskani, we have supported more than 3,000 customers, through the provision of technical support to construct more than 10,000 housing units and would invite the diaspora to onboard in this targeted program,” said Hassani.
AMG Realtors CEO Mr. Andrew Gitau stated: “This partnership is taking root at such a time when majority of Kenyans at home and in the diaspora are looking for trusted organizations to actualize their dreams of legitimately owning land and building. Our desire is to see Kenyans, especially those in diaspora come back home and rest after many years of hard work and making sacrifices.”
Under the partnership, the Maskani Initiative, a value-added construction process technical service platform launched in 2015, will bring together a network of legitimate and reputable built environment professionals, building materials suppliers, and contractors to offer a custom construction solution.
Clients will benefit from the co-partnership advantages of two valued brands, project tracking that includes significant deliverable milestones, construction quality control through a network of partners, and ultimately peace of mind during the construction process.
Customers who join the partnership will be able to choose from a set of home designs, select a contractor from a panel, and be assisted with the county approval process. The client will be kept up to date on all developments of the construction process and will only be charged when milestones are met.
The agreement is timely, as remittances from the Kenyan diaspora continue to rise, with a substantial share going towards real estate, but with rising risks of project failure due to remittance diversions. Kenya earns more foreign exchange via diaspora remittances than any other significant export, with real estate accounting for a sizable portion. According to the Central Bank of Kenya, diaspora remittances climbed by 8.3 percent last year to Ksh.453.6 billion.
