Home » Centum Re: Spotlight On Kenya’s Trailblazing Real Estate Developer

Centum Re: Spotlight On Kenya’s Trailblazing Real Estate Developer

Kenneth Mbae is the Managing Director of Centum Real Estate (Centum RE), overseeing the company’s operations, investments, and strategic goals in Kenya and Uganda.

He joined Centum in 2010 and is an alumnus of the Harvard Graduate School of Design’s Advanced Management Development Program and the University of Cambridge’s Senior Management Programme.

Centum real estate MD Kenneth Mbea
Centum Real Estate MD Kenneth Mbae: Photo courtesy (KBF)

How Centum RE’s Vision Was Born and Future Outlook

Centum RE, a subsidiary of Centum Investment Company, has become East Africa’s largest real estate development and investment firm.

The company focuses on delivering integrated live-work-play projects in urban hubs, addressing the demand for affordable and contemporary housing. Centum RE boasts an asset base of over $307 million, a land bank of 8,045 acres, and a pipeline of 10,000 residential units.

The company aims to continue developing urban areas with sustainable, green, and modern features, expanding its economic and social impact across the continent.

Major Awards in 2023

In 2023, Centum RE received several prestigious awards, including:

  • 2023 EDGE Champion (Africa) by the International Finance Corporation (IFC)
  • Circularity Initiative of the Year Award for Vipingo Development Limited from the Big 5 Global Impact Awards
  • Most Sustainable Real Estate Development Award (Kenya) from the International Business Magazine
  • Real Estate Developer of the Year (2023) from the International Business Magazine
  • Residential Project of the Year (Kenya) from the International Business Magazine

These awards underscore Centum RE’s commitment to sustainability and excellence in the real estate sector.

Assisting Pan-African Investors

Centum RE provides comprehensive assistance to foreign investors, facilitated by their project, sales, and legal teams.

They help investors understand homeownership needs or investment appetite, identify suitable properties, and ensure compliance with legal and statutory obligations, including transaction completion, tax payments, and obtaining title documentation.

Ensuring Resilient Community Housing

Centum RE’s development process is guided by a robust Environmental and Social Management System (ESMS) and ESG frameworks.

These frameworks ensure resilience against climate change through the adoption of green building standards in all projects.

Key Projects in Kenya and Uganda

Centum RE’s three biggest projects in terms of capitalization and sales are:

  • 26 Mzizi Court: An affordable housing project with 1,940 units under construction at the Two Rivers Social City in Nairobi, Kenya, valued at $76 million.
  • 256 Bella Vista Apartments: Stylish and affordable units within Pearl Marina Estate in Entebbe, Uganda, valued at $21.2 million.
  • 1255 Palm Ridge Apartments: An affordable housing project in Vipingo City, Kenya, valued at $8 million.

Encouraging African Home Investments

Most of Centum RE’s clients come from the East African Community, where the company’s operations are primarily based. This regional focus attracts clients due to proximity and familiarity with the market.