Centum Real Estate, a fully owned subsidiary of Centum Investment Company Plc has launched a platform dubbed ‘real estate rental portal‘ aimed at linking investors in residential units to the tenant market.
The rental portal will be a one-stop platform for tenants seeking to live in any of Centum’s mixed-use developments, in Nairobi, Kilifi or Entebbe.
Centum Re will also provide property management services to ensure that the long-term value of the residential houses is preserved.
90 per cent of Nairobi residents and in the markets that Centum RE operates in are tenants, with the balance being homeowners who purchase residential units as an investment to earn returns.
“Our mixed-use developments offer the best option for any person seeking rental properties in different urban nodes around East Africa. We have invested heavily in utility infrastructure to ensure a round-the-clock supply of clean water and reliable energy, while ensuring that our developments have over 30% green spaces to allow for a higher quality of life for our tenants,” said the Centum Re Managing Director, Kenneth Mbae.
“Additionally, our developments are strategically located, and are within a 15-kilometer radius of key social amenities such as schools, hospitals and commercial retail centers. We have taken steps to ensure the state-of-the-art security is in place both at the residential unit level and the wider development level,” Mbae added.
East Africa is amongst the world’s fastest urbanizing regions
The housing need in East Africa stands at over 7 million units, and more specifically in Kenya, the need stands at more than 2 million residential homes.
As the region’s population and urbanization continues to increase, the housing need will become exacerbated over the next 10-15 years.
