Increased real estate activities seen on phased re-opening of economy – Kenya Broadcasting Corporation

George Mburu, Mizizi Africa Homes, Finance and Operations Director
George Mburu, Mizizi Africa Homes, Finance and Operations Director

Real estate developer Mizizi Africa Homes is seeing increased activities in the real estate sector over the next quarter with positive prospects on affordable housing provision with a phased re-opening of the economy.

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The developer says lock down had forced many players in the sector to cut down on number of workers on sites and disrupted supply chains including intermittent access to construction material shops that impacted on project delivery timelines.

“We expect most activities to gradually return to optimum levels to correct longer development periods, a situation we had been pushed into by the COVID-19 pandemic,” said Mizizi Africa Homes Operations Director, George Mburu.

He added, “A longer lockdown period meant that developer operational costs of completing housing units also rose on reduced incomes. This situation if sustained would have threatened sustainability and existence of developers.”

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Global Real Estate

Author: Global Real Estate