NAIROBI, Kenya March 30 – Bamburi Cement company has signed a partnership with real estate firm AMG Realtors, in a bid to support diaspora landowners to build their homes in a transparent construction process in Kenya.
Bamburi has entered the partnership through its Maskani Initiative to provide end-to-end construction technical advice and building solutions to diaspora customers who have purchased land locally and seek to further develop their property, this incorporates 70 percent of AMG Realtors clientele based abroad.
Under the partnership, Maskani Initiative, a value-added construction process technical service platform, will bring together a network of legitimate and reputable built environment professionals, building materials suppliers, and contractors to offer a custom construction solution.
Clients are set to benefit from the co-partnership advantages of two valued brands, project tracking that includes significant deliverable milestones, construction quality control through a network of partners, and ultimately peace of mind during the construction process.
Speaking during the partnership ceremony, Bamburi Cement CEO Seddiq Hassani said both organizations will leverage their operational expertise to deliver complete homes to the customers in a smooth process.
“This partnership is anchored on our innovative approach, a consistent track record, credibility and our expertise aimed at delivering housing to this market. Through Maskani, we have supported more than 3,000 customers, through the provision of technical support to construct more than 10,000 housing units and would invite the diaspora to onboard in this targeted program,” he said.
The agreement is timely, as remittances from the Kenyan diaspora continue to rise, with a substantial share going towards real estate, but with rising risks of project failure due to remittance diversions.
Kenya earns more foreign exchange via diaspora remittances than any other significant export, with real estate accounting for a sizable portion.
According to the Central Bank of Kenya, diaspora remittances climbed by 8.3 per cent last year to Sh453.6 billion.
