The above catchy headline caught my attention too when I came across the story on Nation Online. Not sure if this a post President Obama visit to Kenya benefit or just a timely awakening to Coldwell Banker and other American companies that Kenya really is a hotbed of opportunity especially for those who are in real estate. In case you were doubting that real estate is big, last week social media was abuzz when the Nation published that Centum was paying its 90 employees a bonus payment of 1.1 billion shillings (approx.USD 11million). Now, if you know Centum well you will know they are big on real estate and infrastructure. Some of their projects include The Two Rivers in the UN diplomatic zone of Nairobi and The Pearl Marina project in Entebbe among other investments. Such bonuses are unheard of in companies of that size hence the buzz but such news affirms those looking to enter the sector that real estate investments continue to outperform the market year in year out (please note however that there are those who have lost tons of money in real estate due to a lack of sound fundamentals and good research).
Back to Coldwell Banker. A quick peak into their global website gives a little history of the company as:
The History of Coldwell Banker
The Coldwell Banker brand is the oldest and most established residential real estate franchise system in North America. In fact, in many ways it was the original real estate “start up.” Founded by young entrepreneurs Colbert Coldwell in 1906 and later Benjamin Banker, Coldwell Banker changed the way people bought and sold homes across America, ultimately becoming one of the most trusted real estate brands in the world. More than 100 years later, the Coldwell Banker network is still continuously recognized for its innovation and leadership across 3,000 offices in 49 countries and territories.
Personally, I welcome the entry of more professional real estate companies into this market. Ultimately, it means that we, the investors, will have a wider choice and deal with less conman.
Welcome to Kenya Coldwell Banker. This is the place to be!