George Mburu Mizizi Africa Homes Finance and Operations Director

Mizizi Africa Homes Projects Increased Real Estate Activities on Phased Re-opening of Economy

Corporate News

Mizizi Africa Homes has predicted 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.


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.”

Subdued economic activities also meant that instalment collections for off-plan units were slightly disrupted on account of delayed payments as investors became risk averse.

An estimated 300,000 people in the country have lost their jobs since Kenya reported its first case of coronavirus in March.  It is also projected many more Kenyan could be left jobless over the next six months.


“Gradual re-opening of the economy should be able to reverse adverse effects on job losses, savings and investment funds held by potential home-owners,”

said Mburu.

Despite the negative impact of the pandemic on the real estate sector, Mizizi Africa remains optimistic the sector will take an upward trajectory, especially due to commitments and concerted efforts towards affordable housing provision by government and private sector players.

 1,705 total views,  1 views today

Facebook Comments
Spread the love
READ  Three Kenyan Startups get chance to showcase at 2019 Oslo Innovation Week

SMS 'Truth' to 22285 for EXCLUSIVE & BREAKING NEWS.

Pesa pap website bannerWeb banner

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.