NAIROBI, Kenya, Jul 17 – Real Estate firm Optiven Group refunded customers deposit totaling Sh50 million after four real estate projects hit a dead end.
The Chief Executive George Wachiuri said the real estate projects that failed were in Eldoret, Machakos, Kajiado and Nyeri.
He has blamed the failed projects to dirty land deals.
“We are happy that the government is digitizing the registry and we are hoping that in future when we do a search it’s a real search. Once this is done it will be easier for real estate companies to verify land records,” he said.
He says the firm has 41 real estate projects with about 20 percent investors from the diaspora while 80 percent are investors in Kenya.
“With Optiven, once you invest your money, you never lose; we don’t hide under the table,” Wachiuri said while explaining the company’s policy on investments.
The firm was awarded the Super Brand East Africa status and has emerged fourth in the general real estate industries.
The yardsticks used to give this award include brand dominance, customer loyalty, goodwill and longevity and overall brand acceptance.
“As a Super Brand, Optiven limited has established a top reputation in its real estate market segment and in the East African market as a whole. Our brand has offered to the public significantly tangible benefits, with the public greatly appreciating the value of its great services,” he said.
The firm is eyeing to enter the Rwanda market with plans to set up offices in 2018 as part of the firm’s goal to expand its operations in the East African Market having already entered the Tanzania market.
The company envisions to create over 30, 000 direct jobs by 2030 and settling over 30, 000 people in the same period.