Behind Homescope’s Impressive Growth

By Eric Obwogi

“Knowing our customers has been key.” Leading developer has set high standards by delighting customers with superior quality, high end home ownership Solutions

The Kiluwa Apartments and Spa, at Hurlingham, Nairobi.

Kiluwa Hotel Apartment Hurlingham by Homescope Properties Ltd is one of Nairobi’s newest, most prestigious addresses. It is named after a beautiful flower that is native to the Kenyan coast, which depicts something rare, unique, a jewel.

The real estate sector in Kenya has experienced exponential growth over the last decade, with demand for housing reaching an all-time high and developers minting a pretty penny. However, the industry is currently experiencing a serious lull in new projects flow. Competition for the trickle of jobs is at cutthroat levels, unit prices are being driven down, and quite a few developers are stuck with stock while bank auctions are at an all-time high.

For the last decade, Homescope Properties Ltd.’s directors have painstakingly built a unique brand, embracing innovation, quality and a sound market strategy high-end market segment targeting the upper middleclass home buyers. It has worked.

And they have gone about it in a way that it hasn’t taken long for Homescope Properties Ltd to get noticed. The company has been delighting clients with trend-setting, real estate creations that have not only been huge commercial successes, but also have set it aside as a go-to supplier of exquisite high – end homes.

According to Ms. Carol Mcharo, Head of Marketing at Homescope Properties Ltd., the choice of client base is deliberate to maximize on the strengths of the company to meet the demands of a discerning and sophisticated niche market who are seeking great value for money.

“With the huge gap in housing supply in Kenya, everyone is striving to serve the low – end market where demand is greatest, the perception being that the expected return on investment is quick because of an obviously guaranteed market,” says Ms. Mcharo.

Carol Naneu, Marketing Manager, Homescope: It’s all about thoroughly understanding your client’s needs…”

Homescope has stuck to its lane, and the award-winning real estate firm has especially focused on providing compelling lifestyle benefits to delight prospective home owners. The company has successfully completed a diverse set of complex development projects across the country where it has developed land mark properties, world-class developments that are a safe haven for residents, who get to enjoy the exclusive status of high-end living.

Nestled in the upcoming central business district in upmarket Hurlingham, Kiluwa consists of fully furnished1 and 2 – bedroom studios.

The Loresho Springs, Shaam Gardens, Rhino Court and Zawiya Apartments are some of Homescope’s 45 developments, successfully completed and delivered during the company’s 10 years of its existence, that have clearly given Homescope a place on the high table of Kenya’s finest developers.

All properties are designed and situated to give home owners peace of mind, in reference to the city’s traffic chaos and insecurity, leveraging on technology to offer the very best in state of the art modern convenience.

“It comes with knowing our client very well,” avers Carol. “We work with them every step of the way, paying close attention to their specifications and preferences, understanding and addressing their concerns, and bringing to life their dreams.” She adds that Homescope works very closely with Hajar Services Ltd, its sister company, which offers a quality control safeguard, with the company’s team fully knowledgeable of the high standards of workmanship, with outstanding, original finishing that is expected.

“We also have one of the highest staff retention rates in the market, which ensures that the company’s values and work ethic is reinforced in the minds of our team, who are encouraged and motivated to know, meet and even surpass expectations,” says Ms. Mcharo. This translates to quality and excellence on the job, and ultimately, outstanding results.

There are on average 500-600 employees on the company’s payroll.

In addition, Ms. Mcharo says, Homescope has identified reputable professionals, consultants and subcontractors, as well as equipment and building material suppliers to work within their projects to guarantee customers enduring quality in the homes market.

Construction inefficiencies are partly to blame for the local sector being one of the most expensive construction industries, per square foot. This in turn erodes the competitiveness of real estate offerings in the local real estate market. Homescope leverages on its partnership with Hajar Services Ltd to provide cost-effective construction services, which has a positive impact on the company’s projects, with the reduced cost benefit passed on to customers who get to buy homes for less than similar real estate offerings in the same neighborhood.

Since inception, the firm has fulfilled the dreams of over 1000 new home owners, with delightful top quality houses.

On average, Homescope undertakes 4-5 projects per year. But due to the ongoing slump in the sector, only two projects have been done this year, while disposing of current stock. Ms. Mcharo attributes this to the management’s vision and expert due diligence, a firm grasp of market trends. This has saved the company the pain of getting stuck with property in the midst of a period of belt tightening.

Currently, Homescope is putting up the “Four Walls” a 3-floor, over 5000 square feet, first-of-its kind facility that will be a one-stop-shop for the built environment to house various professionals in the construction sector under one roof. The KSh. 600 million project is designed to save developers’ the pain of having to shuttle between different points in town seeking the services of professionals to handle their construction projects. It will in turn aid coordination between stakeholders and promote efficiency.

“The idea is to house one professional in each category of stakeholders in the construction industry, all construction solutions under one roof,” says Ms. Mcharo.

Homescope will continue innovating, investing in quality and the pursuit of excellence to offer the company’s growing clientele the very best in fine home ownership.

eric

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