Posts tagged as: property

Nairobi Residential Property Wins Multiple Africa-Middle East Awards

Nairobi — A new high-rise residential tower branded Capital M in Nairobi’s Westland suburb has won three Africa and Middle East awards.

The property development picked from a list of 200 other developments in Africa and Arabia region was adjudged a winner in two categories and went on to pick the Five Star award for its Marketing strategy developed.

Capital M – a Fedha Group project – emerged the winner in the High Rise development and best in high-rise architecture by BeglinWoods Architects.

As the Region Nominee for best in the Africa & Arabia Region, Capital M is now automatically entered into the overall International Awards to be held on December 4th in London.

The Africa & Arabia Awards are part of the International Property Awards that include the regions of Asia Pacific, Europe, the Americas and the UK.

The awards celebrate the very best projects and professionals in the industry. An International Property Award is a world-renowned mark of excellence

“Capital M has seen strong interest from investors due to the value proposition and multiple channels for rental revenue, including tapping into the Airbnb model,” said Hooman Ehsani, Director of Century City Property, who is heading up the sales and marketing for the project.

“We have found that buyers are generally more cautious in this market and looking closely at a developer’s reputation to deliver high-quality building. The International Property Awards are a testament of a solid and well-planned development which gives buyers confidence with a property acquisition.” Mr. Ehsani further commented.

Kenya

Duale to Seek MPs Approval of Sh11.5 Billion for Poll

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Zimbabwe: Group Services 700 Park Stands

Shelter Zimbabwe has so far serviced 700 stands out of the 1 500 Adelaide Park project, general manager Francis Mugandani has said. Mr Mugandani said the total cost of the project will amount to $31 million while revenue is expected to be approximately $40 million. “In total, the Adelaide Park project will have 2 800 stands ranging between 300 and 600 square metres,” said Mr Mugandani, adding that they expect to have completed the project in the next two to three years.

He also said selling of the stands also involve the mortgage type while corporates have also been keen on taking up some of the housing units.

“We have since delivered 85 housing units to Lafarge under the mortgage facility and we will be delivering another 300 to other companies under similar arrangements,” he said.

Mr Mugandani, however, said Shelter Zimbabwe and the property sector in general had been affected by the depressed economic environment that is seeing most customers defaulting on their instalments.

“We have since seen a high degree of default upwards of 15 percent on the back of job losses and non-payment of salaries,” said Mr Mugandani, adding that the formal sector which makes up the bulk of the clientele base has been the most affected.

Mr Mugandani also bemoaned the growing cost of providing fully serviced residential stands as there is now a lot of price undercutting within the sector.

“Quality is now being compromised and not prioritized and that affects demand for quality,” said Mr Mungandani, adding that the availability of poorly serviced stands has had a negative impact on the demand for quality.

“The other challenge we have is that financial institutions, our traditional providers of funding are also competing in the same space as us, making it difficult because they are more liquid and can get funding cheaper than us.

“This will affect the delivery process as well as the cost as we will then be forced to look for expensive money to finance the projects,” said Mugandani.

He added that this was at a time the industry is facing pricing challenges as reflected in the inflation figures.

Mr Mugandani also said players in the industry might end up resorting to cash pricing as they were losing out on payment terms.

“Our customers have been paying on installment basis, but the value of money has been falling and at the end of the term, what we charge today might not be enough to cover our costs.

“For instance, some of our suppliers are now charging a transfer premium upwards of 20 percent when we want to purchase materials and equipment to service the stands and this erodes our margins,” he said.

Zimbabwe

Grace Mugabe’s Son Buys U.S.$300,000 Rolls Royce

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Overheating Solar Batteries Caused Fire at MP’s House – Police

By Citizen Reporter

Kigoma — Overheating of a solar batteries has been cited as a source of fire that gutted down Kigoma Urban Member of Parliament house Mr Zitto Kabwe on Saturday.

This was revealed RPC, Ferdinand Mtui revealed this, when he spoke to reporters on Sunday afternoon.

On Saturday evening fire destroyed a house belonging to outspoken ACT Wazalendo party leader Zitto Kabwe.

The property in Kibingo, Mwandiga Ward, Kigoma Region, was Mr Zitto’s first house, built in 2005 when he vied for the Kigoma North Constituency legislative post, the first time on a Chadema ticket.

His assistant, Mr Mustapha Nyembo, confirmed the incident, adding that the property was located on the same compound as the house that the lawmaker lives in at the moment.

Tanzania

Gold Production At Bulyanhulu Mine to Be Slashed By Over Half

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Namibia: Paratus Reveals New Look to Old Power Station

Windhoek — Paratus, the largest privately owned Pan African telecoms operator, has revealed the new look to the Old power Station in Windhoek. Together with its subsidiary Canocopy, the distributor of the Ricoh in Namibia, Paratus upgraded the structure of this historic landmark whilst erecting its LTE equipment.

Built in 1948, the Old Power Station is an iconic landmark situated in the southern industrial area. It provided 22.5 Megawatt of power to Windhoek before the finalisation of plans to build the Van Eck Powerplant in the northern industrial area.

Paratus managing director John D’Alton says their teams spent many hours contemplating the upgrade options. “Not only from the structural side of the tower to erect the LTE equipment, but also from the visual side to retain the tower as a historic landmark in Windhoek.”

In April 2016, Paratus launched its 4G LTE mobile data service across 33 base station sites in Windhoek. With the deployment of the LTE Mobile Data service, Paratus added another facet of its services towards its growing customer base.

“When we initially started negotiating the site with the current owner early in 2015, we knew that the tower required much needed attention. Not only is the site integral to our LTE expansion plans but it is reminiscent of an era gone by, a landmark that needs to be elevated as a historically relevant site in Windhoek,” adds Andrew Hall, operations executive of Paratus.

The current owner, Gerrit Mouton, bought the property from the municipality in 2003 and established what is today known as the Old Power Station Centre. The Centre houses several small businesses and is a home for budding entrepreneurs. Hall says it is a proud moment to see the years of planning, dedication and persistence has paid off.

“We are also proud that other residents have noticed the preliminary work being done and have expressed their content with the upgraded look, although in its early phases. With this, we formally plant our stake in Windhoek and finally declare that this site is now completed,” he stated.

“We are proud of the teams involved from both Paratus and Canocopy, as well as with the contractors. We applaud The Sign Shop and Sky Rope Maintenance for their continued support and guidance during this project,” concludes D’Alton.

Namibia

Vendors Demonstrate Against New Open Market

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Major Mlimani City Expansion Project to Cost $100 Million

By Rosemary Mirondo

Dar es Salaam — The ongoing expansion project for Mlimani City will cost a total of $100 million (about Sh224 billion on the prevailing exchange rate) as the investors seek to ensure that the facility meets international standards.

The ongoing expansion involves construction of villas, banking areas and kids’ corner among other facilities.

According to the supplement addendum between the government, the University of Dar es Salaam and the investors, construction and expansion of the facility is expected to be completed in December 2019.

In later stages, the expansion programme will also involve construction of a hotel and botanical garden.

The property was developed in 2004 by a Botswana-based investor Gulaam Husain Abdoola of GH Group that injected an $80-million investment after signing a 50-year contract with the University of Dar es Salaam to develop 40 hectares.

The mall was later sold to another Botswana firm Turnstar Holdings in 2011 at $77 million. It has a mall, apartments, conference hall and two office blocks.

Now the firm is implementing the second phase which will expand the facility to have another 8,500 square meters for the mall; a complete conference centre; and another two office blocks with over 5,000 square metres, The Citizen understands.

The Mlimani City general manager, Mr Pastory Mrosso told BusinessWeek last week that so far, the expansion has gone through phases one and two and that currently, it is in phase three.

“Phase three alone costs $27 million and extra funding will be required for phase four,” he said.

With the addition of two blocks, the overall appearance look of Mlimani City has changed.

The extension entails expanding the mall and adding a facelift to the existing frontage. It also entails additions to the Conference centre and the two additional office blocks as well as putting up a basement parking of 342 bays. Other ancillary works are a fenced and developed Botanical garden with walk ways, demarcated picnic areas and admin block with ablutions and a gym to the residential villas.

The plan envisages building a separate banking hall so that all banks can shift on one side to create comfort and security for customers who make use of using banking facilities at the place.

According to him, the food court area has also been revamped to have common shade and relaxed atmosphere.

He said the more facilities available at the mall will create more employment for Tanzania at both formal and informal levels.

It is estimated that between 10,000 and 15,000 people visit the shopping centre everyday

Tanzania

Country Is Secure, Peaceful – Prime Minister

Prime Minister Kassim Majaliwa has assured Tanzanians that the country remains peaceful and warned against anyone who… Read more »

Kenyan Firms Among Winners at Africa Property Awards

By Pauline Kairu

Kenyan firms were among the companies that clinched top positions in the property industry at the Africa Property Investment (API) Summit Expo and Awards 2017 in South Africa last the weekend. The awards recognised innovation and outstanding achievement across the property industry.

Garden City, which was developed by Actis, won Kenya the medal for best green building in sub-Saharan Africa while that for the best housing development went to Karibu Homes.

Set on 32 acres, Garden City in Nairobi is East Africa’s first integrated residential, retail and office development and was recognised for having the largest solar panelled carport in Africa on the mall’s rooftop parking area.

The developer’s vision was for the commercial solar project to cut carbon emissions by around 745 tonnes a year, which translates to approximately 18,625 tonnes over its entire lifespan. The 858 kWp solar carport system comprises 3,300 solar panels and will generate 1,256 MWh a year. The electricity generated is used to power mall facilities such as lights and escalators.

During the day, the system generates solar electricity, allowing it to use much less energy from the grid. The hybrid technology enables the carport to run in tandem with a diesel generator so that when the sun goes down, the mall can easily switch over to grid energy, or the backup generator, should the grid go down.

Karibu Homes was recognised for its proficiency in the mass market affordable housing segment. It has more than 1,000 homes under development.

The judges said 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 it.

The projects were judged on a wide range of criteria including location, innovation, technical and architectural quality.

The other winners were Best Retail Development: Kumasi City Mall, Ghana; Best Commercial High-Rise Development: Accra Financial Centre, Ghana: Best Mixed-Use Development: Kigali Heights, Rwanda; Best Hotel Development: Strand Hotel, Namibia: and Best Architectural Design: Torres Rani Towers in Mozambique.

“The winners have set an exceptionally high standard for real estate developments across sub-Saharan Africa and continue to shape the African built environment landscape,” API Events Managing Director Kfir Rusin, said.

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.

Museveni Goes on Radio to Explain Land Amendment Bill

Photo: Daily Monitor

President Yoweri Museveni

President, Yoweri Museveni is set to begin a radio education campaign on the contentious Land Amendment Bill and related land matters.

The countrywide campaign, according to a State House statement, that was released on Sunday; will start in Kabale sub-region, where the president will be hosted on Voice of Kigezi radio starting at 7:00 pm on Monday.

He will on Tuesday go to Mbarara, before travelling to Kabarole and Hoima and Mubende and Masaka districts to address citizens via various radio stations.

The President is expected to field questions from listeners.

According to the statement, he will be accompanied by Land Minister Betty Amongi and Attorney General, Mr William Byaruhanga.

This comes on the heels of the controversy that was sparked by the Constitution Amendment Bill that was tabled before Parliament, seeking to amend Article 26 of the Constitution relating to the acquisition of private property by government.

The amendment proposes that where the owner of property or any person having interest in or right over property objects to the compensation awarded under the law made under clause (2)(b), the government or local government shall deposit with court for the property owner or any person having an interest in or right over the property, the compensation awarded for the property, and the government or local government shall take possession of the property pending determination by the court of any dispute relating to compensation.

The proposed amendment has attracted widespread condemnation from the public, including religious leaders and civil society organisations among others.

Recently, National Resistance Movement legislators, during a meeting with President Museveni, the party chairman, reportedly rejected the proposed law in its current form.

The party caucus set up a committee chaired by Vice President Kiwanuka Ssekandi to scrutinise the Bill.

Uganda

Self-Confessed Criminals Want Meeting with Police Boss

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Fire Guts Dormitory in Chuka Boys High School

Fire burned down a dormitory at Chuka Boys High School, Tharaka-Nithi County, on Saturday evening.

Chuka/Igambang’ombe OCPD Barasa Sayia said no student was reported injured in the fire that started at around 7:20pm, during evening studies.

Mr Sayia told journalists that the fire destroyed four out of 40 cubicles in the two-storied building, which accommodates 320 students.

“No student has been injured but 36 have lost their property, which include clothes and books,” Mr Sayia said.

ALERT

Mr Alex Mugambi, the county’s fire department manager, said it took them one and a half hours to put out the inferno.

“We received a call from the teacher on duty and when we arrived, we found that the fire had already gutted a section of the dormitory but we were able to contain it before it spread further,” Mr Mugambi said.

PROBE

He advised school managers to always alert the fire department in time to avoid extensive damage.

“It becomes difficult to put off fire when it spreads to the entire building and that is why we advise schools’ management to ensure that every teacher or security guard has our contacts,” he added.

Mr Sayia said they could not immediately establish the cause of the fire and that they had launched investigations.

Kenya

170,000 Teachers to Be Trained In New Curriculum

More than 170,000 teachers who will oversee the implementation of the new curriculum in January will be trained in two… Read more »

Lawyer Elms in Karen Land Dispute Loses Bid to Block Prosecution

By Benson Wambugu

A lawyer has lost the second bid to block his prosecution over alleged forgery of a deceased’s will in the sale of a Sh500 million five-acre piece of prime land in Nairobi’s Karen area.

After justice George Odunga dismissed a constitutional reference lodged by lawyer Guy Spencer Elms on June 14 seeking to quash his criminal prosecution, the lawyer returned to the same judge pleading for more time pending determination of his intended appeal.

FRAUD

Mr Spencer urged justice Odunga to extend the temporary conservatory orders or grant him a temporary injunction restraining the Director of Criminal Investigations Department (DCID) and the Director of Public Prosecutions (DPP) from arresting and prosecuting him.

He told justice Odunga that he was apprehensive the crime busters might arrest, detain and arraign him in court on charges related to the written will of Mr Roger Bryan Robson (deceased) despite his pending appeal to stop the criminal trial.

A businesswoman who is accusing Mr Spencer of fraud, Ms Agnes Mugure, claims she bought the disputed piece of land from the original owner, Roger Bryan Robson, for Sh100 million in 2011 but said the lawyer was planning to transfer the property to himself and dispose it.

CRIMINAL TRIAL

However, justice Odunga declined to issue the injunction saying the trial of Mr Spencer was yet to take off and furthermore, he had not been charged.

“When and if that happens, he would be entitled to bail,” justice Odunga said.

Mr Spencer had contended that his intended appeal was arguable, well grounded and with a high probability of success.

He said he stood to suffer great prejudice and irreparable loss in terms of unprecedented embarrassment if he was arraigned in court.

PROSECUTE

When the lawyer first appeared in court in June, the judge threw out his application to stop his trial and ruled that he ought to prove his innocence before the criminal court.

The judge said Mr Spencer had failed to persuade the court that his looming prosecution had any procedural irregularities.

“Our criminal process entails safeguards, which are meant to ensure that an accused person is afforded a fair trial,” justice Odunga ruled.

Consequently, the judge urged Mr Spencer to subject himself to the criminal case, arguing the lawyer had the option of appealing the decision if he was unhappy with the proceedings.

ROBSON’S WILL

The land parcel has been entangled in ownership dispute between Mr Spencer and Ms Mugure with the former claiming he took charge of the property following the death of Mr Robson.

He argues the land and its title instruments were passed to him by Mr Robson in a will dated March 24, 1997.

Mr Robson, who died on August 8, 2012, is alleged to have authorised the sale of property and directed that the proceeds be used to support needy children and in environmental conservation.

But Ms Mugure claims she bought the property from Mr Robson in 2011, one year before he died.

The lawyer is urging the court to restrain Ms Mugure from acting as the property owner and be compelled to demolish the wall and other structures on the land.

He also wants the court to declare him the rightful owner of the land.

Nigeria: Building Collapse – Lagos Begins Demolition of 114 Distressed Buildings

By Monsur Olowoopejo

As measure to stem cases of collapsed building in Lagos state, the government, yesterday, commenced demolition of 114 identified distressed buildings in the state.

Vanguard learned that 57 of the 114 distressed buildings marked for demolition would be pulled down during first phase of the exercise.

It was gathered that officials of Lagos State Building Control Agency, LASBCA, stormed Lagos Island, where at least 34 of the buildings were sited, at about 10 am and commenced the demolition.

A top government officials disclosed to Vanguard that larger percent of the building being demolished ranged from two-storey to four-storey buildings.

Confirming the demolition exercise, General Manager, LASBCA, Lekan Shodehinde, disclosed that the distressed buildings on the Island were captured under the first phase of the exercise approved by the state governor, Akinwunmi Ambode.

Shodehinde said the buildings had been distressed overtime and that government had served owners of the structures notices.

He said the exercise was being carried out to stem tides of collapsed buildings in the State, saying that government would not fold its arm and allow buildings to collapse indiscriminately across the metropolis.

Shodehinde disclosed that the agency had identified 114 of such distressed buildings that needed to be demolished across the metropolis, adding that the others would be demolished during the second phase of the exercise.

He stated that government would no longer wait for owners of distressed buildings to remove them on their own as experience had shown that such owners did not always remove such structures.

Shodehinde explained that once a distressed building had been demolished by the government, the owner would be given 90 days to pay the demolition cost, failure of which government would seize the land.

He said before a building would be demolished, the owner would be given ample time to remedy the situation, which included subjecting the property to integrity test.

The LASBCA General Manager stated that if after the test had been carried out and the property was found to be unsafe, it would be demolished.

Nigeria

Amnesty Accuses Authorities of Detaining Hundreds Illegally

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