|About||Making home ownership affordable for all Kenyans.|
Simple Homes Developers Consortium Limited incorporated as a limited liability company was created on the back of The Property Developers Consortium - Kenya to provide property developers with the capacity to raise their own capital to finance their property developments independently of banks and other financial institutions on terms accommodative of the type of enterprise that property development is while at the same time providing home buyers with the opportunity to own their own homes on favorable and affordable terms.
Simple Homes is 97% owned by The Online Commodity Exchange Limited (TOCE) who with its network of 40 property managers and 140 estate agents and a domestic consumer base of 9,728 consumers in Nairobi was able to conduct direct consumer surveys that provided the information that informed the creation of spurred the incorporation of the company.
The problem in the property sector in Kenya whether it is development or home buying revolves around finance. The structure of finance dominated by the banks does not favour anybody except the banks. Most players in the sector feel that it is a real estate problem without realizing the depth of what they are facing. As a result developers can’t raise the capital they require to build homes and home buyers can’t get the finance on favorable terms to buy homes.
Simple Homes seeks to provide a financial solution on all fronts thereby bringing all factors to bear in one comprehensive solution that attracts all the various players in the real estate sector. As follows:
1. Developers: Developers are looking for two things. First they seek finance on reasonable terms that is largely insulated from interest rates and penalties which wipe away their profits or dramatically increase the cost of their developments. Second they are looking for a sales vector that allows buyers to be able to buy on their own terms dramatically increasing the rate at which homes can be sold thereby increasing demand for prope