Real Estate Firm Lauds Government Move On Property Ownership

The content below is provided and sponsored by Optiven Group.

Kenyans on Saturday, December 12, 2020, celebrated the 57th edition of Jamhuri Day, in recognition of the nation’s self-rule declaration from Britain. To mark the day, President Uhuru Kenyatta elucidated his government’s agenda key of which covered the Big Four Agenda.

Stakeholders especially in the real estate sector were at hand to garner developments that would affect the sector for posterity. With the numerous challenges facing the sector including an increase in auctioned property, reduced tenancy for rental property, and a general lackluster approach toward investing in real estate, all these affected the value of the real estate to a great extent.

Kenyans today celebrated the 57th edition of Jamhuri Day, in recognition of the nation’s self-rule declaration from Britain. To mark the day, President Uhuru Kenyatta elucidated his government’s agenda key of which covered the Big Four Agenda.

Stakeholders especially in the real estate sector were at hand to garner developments that would affect the sector for posterity. With the numerous challenges facing the sector including an increase in auctioned property, reduced tenancy for rental property, and a general lackluster approach toward investing in real estate, all these affected the value of the real estate to a great extent. https://www.optiven.co.ke/newsblogs/optiven-takes-a-card-on-real-estate-amidst-covid/

George Wachiuri CEO Optiven Group says, “the passing of the Sectional Properties Act 2019, is a dream come true for the middle class who are considering the purchase of their first house probably within a flat located in the outskirts of the central business district.”

His sentiments echo the desires of David’s Chama which has bought a commercial property with Optiven Limited. According to David, the group has been mulling over the idea of building a multistorey complex but with the twist of having housing units.

He says, “we have been enjoying just looking at our title deed which I personally received on behalf of the group at Garden of Joy after we finished paying for our commercial plot. But with the act now passed, we are looking at improving opportunities for Kenyans to buy from us as we enhance rent to own for them. For us, the Big Four Agenda is becoming a reality”.

According to Wachiuri, “we have seen more interest in investors in need of developing common dwelling places such as flats.” Under the recently signed act, it provides for the division of buildings into units to be owned by individuals and further repeals the Sectional Properties Act of 1987.

The real estate sector has celebrated the move that will bring legal clarity to property ownership. As for Optiven, Wachiuri says, “we’re ready to provide solutions and enhance service delivery by engagement of best practices. In 2020, we continue to embrace green living under the #GoGreenNaOptiven campaign the encourages environmental sustainable living”.

Through its drive towards green living, Optiven has installed solar street lights on it’s premier Properties in Kiambu, Kitengela, and Koma respectively. The award-winning company has further fast-tracked value additions in standard projects including Shekina.

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