The firm hopes to capitalise on the growing demand for professional property management services to grow its revenue streams.
The unit is expected to provide a range of services to property owners including maintenance, renting, renovating and security of residential or commercial properties.
HFDI estimates that nearly 30 per cent of office buildings and residential apartments in Nairobi are currently managed by service providers.
HF Group #ticker:HFCK through subsidiary HF Development and Investment (HFDI) has launched a property management services unit.
HFDI executive director James Karanja said yesterday the unit was informed by the need to have a presence throughout the property value-chain for end-to-end customer solutions.
“Our research has shown that there is an increased awareness among property owners and investors regarding the necessity to have professional management of their properties,” he said Mr Karanja. The unit targets to manage at least 5,000 homes, 10,000 square metres of retail space and 30,000 square metres of commercial floor space in the medium term.
The unit will initially manage HFDI residential properties and K Mall in Komarock Estate in Nairobi.
It is also expected to provide a range of services to property owners including maintenance, renting, renovation and security of residential or commercial properties.
“Property management in the real estate sector is growing very fast as most property owners are looking for one-stop solutions.
“Only owning a property does not translate into earning a good rental income if you don’t undertake proper management and care of the property,” said Mr Karanja.
