Land value keeps appreciating with the rise of every new dawn. Most individuals venturing into this trade expect high returns just like any other business. Despite the craze for landownership, more often than not the land that is highly sought after is left unused due to various reasons.
On October 11th 2018 The Hive hosted their second event about building
& construction themed ‘Don’t just Buy, Build’ to discuss how individuals can move from land ownership to developing. The candid conversation attracted individuals and investors desiring to venture into home ownership or commercial projects.
In her introductory remarks, Arch. Mugure Njendu who is one of the event organizers explained that the conversation was not about affordable housing but moving from land ownership to building on that piece of land that has been neglected for years and making something out of it, be it commercial or otherwise.
The key note speaker Arch. Steve Oundo noted that construction is currently one of the most relevant and profitable investments and those desiring to build should follow the correct procedures.
Below are highlights from a panel discussion that featured the WIRE president Robyn Emerson, MD Strategia Advisors Ltd Christine Ng’ang’a, MD Axis Real Estate Ltd, Mr. Gikonyo Gitonga, Ms. Njanja Muguongo a real estate developer, Ngarua Kamuya an Advocate and Arch. Steve Oundo.
There are quite a number of reasons as to why individuals choose to build. A larger part of our lives are spent on buildings and investing into this trade is definitely profitable and brings high returns.
Self-realization building enables individuals to explore their full talents by putting into practice some of the ideas that they have in mind and this creates a feeling of satisfaction and pride.
Which professionals should be involved?
An architect is the first go to person who the client gives the brief. Then there is the quantity surveyor who conveys the bills of quantities. We also have the engineer’s i.e. the electrical, structural and mechanical engineer all who play different roles in the building stability. It is also important to include a project manager who will assist in coordination of the project and to achieve the expected desirable results.
Selection of Site
It is important to choose a location that is not restricted to only residential, the zonal parameters should be well adjacent to even suit industrial purposes. It is important to be up to date when building a commercial project in that the inner spaces meet the occupant’s needs.
When dealing with professionals, a client is able to tell if they are working on an authorized piece of land and the boundaries they are expected to work from. More often, it is impunity that leads to demolition of buildings. Developers are aware of illegal land but majority are negligent. It is important that before anything is put up, the right information from right people is sought.
The county government gives approval to the architectural and structural drawings. If the development is close to a riparian land, environmental bodies like NEEMA and Water Resources Management Authority must issue approval. Other bodies like the National Construction Authority will also be involved to ensure the construction process is compliant.
One can build using savings which accumulate overtime. Mortgage is another option. It is important to treat creditor’s right in order to benefit from the banks, chamas and saccos.
The panel discussion ended with a question and answer segment where the audiences were able to interact with the panel.
BUILDesign Magazine was the main official media partner.