Urbanis Africa to search for home buyers online

Real estate management firm Urbanis Africa has unveiled an online platform to aid house buyers in the process of searching for prospective homes across Africa.

The firm’s chief executive Wagane Diouf said will especially target Africans in the diaspora. The website carries general information about the continent’s real estate market and available financing options.

“We hope making it easy for people to buy online will accelerate ownership of decent housing,” said Diouf. The firm focuses on bottom-of-pyramid markets with low-cost housing projects.

It is currently managing two developments under construction on behalf of two different developers. One of the developments is Jamii Bora Makao’s Kisaju View Park in Kajiado county, which will comprise 2,000 residential units and 1,164 commercial retail units by completion.

The other is Kenani Housing Company’s scheme in Lukenya, Machakos county. It comprises 2,400 residential units. The Kajiado development is projected to cost Sh5 billion by completion while the Athi River scheme is estimated at Sh1.6 billion. Kenani will break ground for its development in April 2013.

“We set up a special purpose vehicle for each project we initiate and bring to each project a different group of investors and lenders who are exposed exclusively to a single project,” said Diouf.

Urbanis is also operating a financial advisory service to enable its clients access home financing with ease while it guides them in the mortgage application process.



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