With great business acumen, Moses Muriithi has fortified his position in the Real Estate industry, thriving in impeccable business services, quality pricing, and great customer experience. He is the C.E.O of Fanaka Real Estate LTD, a well-established business entity that runs successfully in this lucrative niche.
Fanaka Real Estate Ltd was started in 2016 and has been in operation for three years. Located at Dune Plaza in Ruai Town about 20km off Nairobi CBD, Fanaka Real Estate Ltd has most of its projects are around the area i.e. Kamulu, Joska, and Malaa, which are good for developing.
He shares his entrepreneurial journey with us.
What does Fanaka Real Estate LTD do?
We sell land in prime areas along Kangundo Road. Basically, we identify large chunks of land in prime areas then divide it into small portions which people can be able to afford. We have ¼ and 1/8th-acre plots. Our target clients are low and medium income earners. Our mission is that every Kenyan regardless of their income status is able to own land and build a home that is not far from their workplaces.
How did venture into the real estate industry?
Personal experience in buying land made me realize there were so many gaps in the market that needed to be filled. Issues to do with safety when settling, which goes hand in hand with the availability of a title deed. While in campus I invested in bits of land. Later, I was able to consolidate and sell them. That’s how I got into the business.
Where did you source for finance to start off?
I sold the plots I had consolidated and saved some money from my previous job. By 2017, the returns were more than 100,000,000ksh.
What qualities have stood out for Fanaka Real Estate Ltd?
With the right team investing time and enough resources in the business to meet the needs of our customers and having the discipline to meet our goals has pushed us to greater heights as a company.
What are some of the challenges the industry has faced and how did you solve that?
There has always been a shortage of skilled personnel to run and execute some tasks. Bringing the technicalities and finer details of business can sometimes be time-consuming. We also suffer from a shortage of resources due to the high demand in the market. On the brighter side, we are been very keen on the allocation of our resources to the operations and engaged with key players in the industry for knowledge and expertise on such matters.
What are some of the best moments for Fanaka Real Estate Ltd?
We have become a major establishment over the years thanks to our customers, who have made us win several awards. We are the leading real estate company in the use of digital marketing having partnered with Sacco’s and Banks
How do you market yourself in this digital space?
We use Mainstream media, Adverts on TV and Radio, Social Media Marketing and activations. Referrals and word of mouth through our clients, thanks to our quality products has been the big shot, but with this other forms of advertisement, we are looking to get new clients and reach a large audience.
What would you have done differently back then when starting out?
I would have concentrated more on the technology because of efficiency. It is more rewarding and less costly as one can monitor what is happening in the business.
What would you encourage other young entrepreneurs in your industry to do right?
One of the major thing that should be considered is the operation cost. One should be able to minimize. Also embrace technology because of efficiency, also monitoring the sales, and also minimize the number of employees hence saving cost.
Customer satisfaction is key when starting as it builds trust.
Where do you see yourself and your business in the next five years?
We see ourselves one of the solution solvers as we come to the real estate industries in Kenya, and internationally. We look forward to concrete partnerships with key stakeholders and the government in the industry for the good of our esteemed clients.
Young people should work hard, now that they still have energy, determine how far they want to go and put effort.