“Many people dream to own a house but what they lack is the deposit fee. At Dinara Developers, if we are constructing a house within 18 months or any period, we ask you to pay whatever amount within that period and this is what has attracted many customers.”
Surprisingly, Mr Kamau said that his company has never sought bank loans.
“We plough back our profits. We have deliberately avoided bank loans because of the high interest rates, which will obviously be passed on to the customers. In the past two years we have earned very little as a company because huge chunk of Sh300 million profits we make per year is invested back in our projects,” he added.
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The Kenyan firm whose name means rich in Russia also owns a fleet of lorries, which transport building materials from its quarries, further cutting down the cost of construction.
CHALLENGES
Like other players, Dinara Developers is grappling with inadequate skilled manpower. The company started with 3 staff and now has employed 40.
However, its biggest challenge has been impromptu change of policies by corrupt county government officials.
“One day a county official tells you that your lorry should not carry more than 20 tonnes of stones beyond a certain point. The other issue is the re-zoning, which has disrupted our building plans, costing us millions of shillings,” he added.
The most unique hurdle, however, is the lack of trust from land owners, who dismiss him as a young person not worth conducting huge business.
