Mr Okal says banks and Saccos are the ideal partners “since with their mortgage products they can partner with us since we already have a name and available, clean land up for resale” “Land is a very sensitive issue and getting a customer to part with his/her money in exchange for a parcel of land requires serious convincing. The irony is that if you advertise, the potential clients become even more suspicious of your investment,” he says. Still they have done well. By July 2018, their client portfolio had grown from the initial two to 1,006.
“If all goes well — and we are very optimistic that it will— by 2030 we want to be among the movers and shakers in real estate, with every member owning a home and other investments,” he says.
“Our core business now is to acquire more chunks of low-priced land, add value to them and dispose of them to through hire purchase. Our model targets low- and middle-income earners where, for a commitment deposit, we l avail land to them and they can settle the difference in instalments.” he says.
The following feature was first published in the Daily Nation.
Discussion about this post