The Real Estate and Property firm, Myspace Properties, has said in a statement sent to the newsroom that it will be opening another branch in the leafy Karen as it increases its footprint in the region. It is in the same leafy suburb where the real estate leader is building one of the 50 minimalls it announced it will be constructing last year just before their plans were interrupted by Covid 19 pandemic. This new branch adds to its branches in Nairobi Parklands, Nyali in Mombasa among others. The firm also has subsidiaries in Uganda, Tanzania and Rwanda. The firm which was recently ranked as the Pacesetter in Real Estate in the Industry Leaders survey organized by Jubilant Stewards of Africa (JSA) in the last year prestigious awards for Top SMEs and also ranked best in Real Estate by KMPG Kenya in their last annual top 100 midsized companies’ awards pronounced that it will be unveiling modern mini-malls to meet the growing demand from retailers and vendors. According to the statement sent to the newsroom, the real estate firm said that owing to increasing large format retail store saturation levels in major towns and skyrocketing population that are living in new residential areas at lengthy commuting distances from larger retail centres, mini-malls will offer suitability purchase. Pundits also argue that this strategy is because of the shrinking spacious land in urban centres amid growing population.
“This hub was to be officially opened in February but had their plans interrupted by the suspension of building plan approvals as the NMS constituted a new multi-sectoral urban planning technical committee to handle building plans and approvals in Nairobi County a new committee. With the change in management and implementation of the new digital system for submitting applications, approval time has improved,” said Mwenda Thuranira, CEO of MySpace properties.
The new office will serve cliental from Karen and its neighborhoods. The new branch comes after the firm opened its doors in Parklands, Nairobi late 2019. The property developer had been operating in Nyali Mombasa for the past 12 years since 2008.
The branch will be housed in the minimalls that will also be housing Total Petrol station as the main anchor tenant. Java, Dr. Mattress, Optica, Chicken Inn, Artcafe, Carrefour have also shown interests in being housed in the minimall built by Myspace because of the uniqueness of the shopping strip and its prime location and proximity to Ongata Rongai town.
“In our next stage of property development we will focus on high-end properties, including freshly-constructed luxury apartments and villas. When we went to Parklands in December 2019, it was a natural progression for us to close the gap in Nairobi, where we already have agents that have been helping us run our operations in that area,” Mwenda Thuranira told to the reporters.
While they remained active in the market, Mwenda said they wanted to hold off on opening a branch in Karen until the property market stabilized.
“With the expanded footprint and our agent count now growing, we didn’t want to do it until it was the right timing,” Mwenda said. “Moving to Nairobi Parklands kind of sparked it. Now, we’ve got some pretty good traction and we’re getting a lot of calls.”
As companies debate when and how to open operations safely during COVID, there are numerous issues being considered in the process. We are implementing new protocols to ensure the safety of clients and meet operational expectations, we anticipate how the shift in building operations will allow the continuation of key services from both the development and operational side of the business. During this period we are coming up with various property management measures while adapting to the inevitable changes in tenant demands.
For further details and updates, please contact;
Jared Oundo,
Corporate Communications Consultant
Myspace Properties,
Email: pr@jubilantstewards.com or info@myspace.co.ke
Cell: +254 719408244/0780408244
MYSPACE PROPERTIES LIMITED
Myspace Properties Limited is a Real Estate and Property firm that offers a unique and unprecedented value proposition covering all the core skills and requirements fundamental to the success of a real estate venture. It is also among the firms incubated in Nairobi Securities Exchange (NSE) Ibuka programme. Myspace first appeared in the KPMG Top 100 rankings in 2018 and then 2019 became the top Real Estate firm in the list. Myspace appreciates the industry players for acknowledging our objectives and efforts to growing and becoming influencers within the Real Estate Industry.