Kenya’s Real Estate development world has many players who unite forces to meet client demands.
Meet EMM Consult, a young property valuation and management consultancy company but whose service to its clients is above board.
Started only in 2009, EMM Consult offers unrivalled expertise and personalized techniques in the management of properties in the city of Nairobi where it is based and even beyond. Top management at EMM Consult says the company’s concept is founded on nothing less than professionalism, accountability and quality service that guarantees maximum returns from investment.
It is headed by Eric Madete, a holder of a Bachelor of Arts Degree in Land Economics from the University of Nairobi and a Diploma in Land Management and Informal Settlement Upgrading from the Institute of Housing and Urban Studies in Netherlands.
Managing Director Eric Madete gives a breakdown, of professional services offered by EMM Consult as property or facilities management, asset valuation, property sale and letting, land development consultancy, general construction and property maintenance and renovation. They also do feasibility studies and property revenue accounting.
In property management professional, maintenance staff is hired to take care of various properties under EMM’s management mandate.
“We employ professional maintenance people to care for properties under our management,” says Madete. “Our dedicated staffs are knowledgeable in all aspects of real estate property maintenance and supervision.”
The company is formed with the prime objective of providing property valuation, management and consulting services, he says. He affirms that the company he himself founded is registered with the National Construction Authority to carry out all manner of construction work including buildings, roads and water works.
EMM does valuation of all classes of assets for purposes of mortgage, debenture, open market sales, insurance, audit, book keeping and privatization. Valuation is done on assets like land, buildings, plant and machinery, fittings, fixtures and furniture.
In land development services, EMM Consult does feasibility and viability evaluation on land development matters, while in the line of general construction, they do renovations and maintenance of all classes of properties including residential, commercial and industrial.
Asked who the composition of their clients is, Mr. Madete says it comprises of fully state registered companies, faith based organizations and individual developers. Among those are Hebatullah Investment and Properties Ltd, Dawat-e-Haliyah (Kenya), Saifee Foundation, Honeydew Investment Ltd, Hampton Court Ltd, Cumberland Investment Ltd, Subrian Wines Ltd, Kenyans Living in the Diaspora among others.
In his past experience before forming EMM Consult, Eric Madete has been in the letting of a number of buildings in the Nairobi city centre. Some of these prime commercial properties are Hazina Towers, View Park Towers, Lakhamshi House, Maendeleo House, The Bazaar, Lyric House and Jiwabhai Vekaria Building.
On letting and selling, EMM Consult has a well developed network and database of clients interested in properties from sale and lettings. EMM has a website that provides quality exposure to vacant property available for sale and letting. By using innovative marketing and advertising techniques, the company is able to fill out vacant spaces with qualified tenants, while taking great care throughout then tenant selection process.
“We offer personalized service to our clients, ensuring we give them what they are looking for…we would rather have fewer and offer them good service than rush for many,” says an upbeat Madete in his office.
Some of the properties that EMM Consult takes pride to have successfully disposed are like Collousou Village in Athi River, Olonyori Estate in Mlolongo, Taj Apartments in Kilimani Kileleshwa, Bellway Apartments in Kileleshwa and Westlands, Lantana Gardens in Valley Arcade and Kilimani, Thompson Gardens in Valley Arcade and Green Garden in Nairobi’s upmarket Lavington.
EMM Consult has developed unique strengths in the management of common facilities including collection and disbursement of service charge, repair and maintenance of common areas, supervision of security and cleaning services and maintenance of books of account for respective properties. They also create liaison between property owners, service providers, statutory bodies and tenants.
EMM Consult receives instruction from clients before assessing the viability of development projects ranging from low cost housing to big commercial developments.
Transparency in accounts
In dealing with clients’ financial accounts, EMM Consult has two virtues that ring in their mind, and these are transparency and accountability.
“EMM Consult exercises the highest level of transparency and accountability towards the maintenance of clients’ financial accounts. The clients have access to records detailing financial transactions touching on their properties,” says Mr. Madete. “We have a detailed collection and disbursement system that takes care of the revenue flow of the property; all entries are also checked by our auditor monthly.” The MD says it does not end there; they have also engaged the services of an external auditor who inspects their financial books from time to time.
Industry sentiments
The Managing Director, an Associate member of the Institute of Surveyors of Kenya (ISK) and a registered estate agent says of the property investment industry. “This is a very promising industry despite times of economic slowdown. Nobody should fear going into real estate. These are investments that last for a long time, others will come and go.”
However, Mr. Madete cites high interest rates as a concern that impacts negatively on mortgage financing, but observes that the government is keen on bringing them down, a move that would spur investment in real estate, necessitating an upsurge in demand for mortgage financing.
Land Laws Amendment Bill
Mr. Madete views the signing of the Land Laws Amendment Bill into law by the President this year as a setback of sorts to some of the gains put in place in the land sector. The Bill saw the repealing of a section to remove County Land Management Boards born out of the 2010 Constitution. He says as players in the sector, they are concerned, and could head to court to challenge that piece of legislation.
