Buildesign magazine attended the BORAQS CPD seminar on 1st and 2nd September of this year. The theme of the seminar that was held at the Safari Park Hotel was “Project Financing and Investment Planning”. The seminar whose mission was to promote world class professionals in the field of architecture and quantity surveying aimed at educating architects and quantity surveyors on several aspects that include; financial sustainability of construction projects, financing for counties, project financing and risk analysis, housing in a rapidly urbanizing Kenya, growing a mature business as well as investment planning for the private and public sector.
Cytton Investments Ltd representatives keenly highlighted the role of the private sector in real estate and related it to the theme of the seminar. The investment planning for the private sector was largely discussed by Cytton investment while the National Social Security Fund (NSSF) discussed the significance of investment planning for the Pubic sector. The four steps for effective investment planning process include market research, project finance, project management and an exit plan that ensures the realization of the investment returns.
Dr Nicholas Letting and Mr. Nyaloti of the Management University of Africa spoke about financial sustainability of construction projects. They discussed project sustainability and project financial sustainability as key indicators to great performance. Good governance and financial expert advice were explained as strengths to help solve arising challenges when working on a project.
Engineer Isaac Inanga who is head of construction and project management at the Kenya Commercial Bank (KCB) spoke on project financing and risk analysis. He explained project finance as a method of financing where the lender accepts future revenues from a project as a guarantee on loan. The key features of project finance that were explained included capital intensive, a highly leveraged and limited recourse. Engineer Isaac explained that risk refers to the degree of uncertainty that the results will be different from the unexpected. The response of risk include accept, transfer, avoid or mitigate.
Hon. QS. Maina Kariuki spoke on financing counties with a cases study of Nakuru County. He highlighted the development of counties as key in the continuous growth and development of the country. The project proposals for Nakuru County included low cost housing projects, solar energy production, waste management and energy production as well as the proposed bus park and hawkers complex.
Basco paints was the main sponsor of the event. The forty year old leading paint company manufactures the Duracoat Royale and Basco range of products. At the event, Basco paints sought to market their newly launched fragrance paint, the Silicon emulsion that can sustain extreme temperature, ultra violet radiation, moisture as well as oxidation and has up to 15 years of assurance.
C-MAX limited also attended the event with intend to create awareness to professionals about revolutionizing affordable housing construction using the Expanded Polystyrene Sintered (EPS) panels. The EPS panels are stronger, portable, earthquake resistant, fire resistant and more affordable compared to the traditional building system.
The Architecture Association of Kenya (AAK) was also present to advocate business membership organization for professionals in the building industry.
Impala glass limited, the leading construction glass company also showcased vast range of creatively designed glasses ranging from architectural safety glass that are bullet proof to automotive and interior application glasses.
Tiles and carpets centre were also the flagship sponsors whose main aim was to create awareness as a one stop shop for finishes such as pipes, sanitary ware, roofing products and many more.
The Buildesign magazine is one of the key partners of BORAQS and has been taking part in most of the BORAQS CPD events.