03 Jan

Superior Homes Kenya aims high after Top 100 Club entry

Real estate titan Superior Homes Kenya (SHK), recognised as a Top 100 mid-size firm, is aiming higher. It plans to list in the Growth Enterprise Market Segment (GEMS) at the Nairobi Securities Exchange (NSE), expand its operations and meet the unmet demand for houses. Greenpark Lifestyle Estate, SHK’s flagship project located in Athi River, is currentlyz in its fifth phase, with over 450 houses completed and sold to date. Plans are also in place to put up a commercial establishment that shall take care of all the residents’ shopping needs by 2017. The estate is connected to the MAVWASCO water supply and trunk sewer line, two boreholes, two schools within the estate – a kindergarten and a primary school. The Sundowner Bar & Restaurant is now up and running, offering a gym, swimming pool, multipurpose pitch, indoor gaming, and food and accommodation. A community owned estate management company collects and appropriates the service charge. Over the period, SHK has developed new products and incorporated buyer feedback to enable it make improvements on new houses. The firm is currently working on a tourism and hospitality establishment in Naivasha’s Lake Elementaita region. The 52-cottage Elementaita Mountain Lodge shall offer both local and international holidaymakers an experience of what the country has to offer in hospitality. SHK also plans to replicate the Greenpark model in other counties. The firm’s officials say they are excited and proud of making it to the coveted Top 100 Club. Its participation in this competition is a clear demonstration of its progressive drive towards providing qualityvalue-for-money homes. It is also an indicator of the firm’s sound financial stability, compliance to tax regulations and financial discipline. Current and potential clients can therefore invest in Superior Homes Kenya products and be rest assured to get their money’s worth. The firm’s officials say that the real estate industry in which they are key players can rise to new heights if the authorities reform the licensing regime. They note that licensing and seeking relevant approvals is a major challenge. Slow registration at the lands offices also impacts on property development businesses. It would be good if the government can considermore incentives which would reduce developers’ costs of production and ensure fairer pricing for houses. SHK, together with industry players such as the Kenya Property Developers’ Association (KPDA), are engaging the concerned parties to see how to alleviate these hindrances. The government, they say, should formulate developer-friendly policies, measures and incentives that ensure efficiency of operations and reduced cost of production. The benefits from this would be immense, and would be passed on to others – suppliers, financiers, and aspiring homebuyers. SHK was established in 2004 with a vision “to become the largest, the most respected and trusted provider of new houses in East Africa while engaging positively and to the mutual benefit of customers, staff, contractors, suppliers and wider community”. It is guided by a mission “to innovate, improve and inspire”. SHK is driven by the commitment to provide quality and above-standards houses, and this is the greatest contributor towards its success. It also boasts innovative products such as ‘BOLT – Buy Over Long Term’ that allows instalment payments towards a house, and ‘TBYB – Try Before You Buy’ which allows you to ‘test-drive’ SHK houses before buying. A Covenant of Rules and Regulations executed and adopted by homeowners during purchase also ensures the sustainability of the estate, protecting the property from undesired changes and distortions.