Initiating
This will involve carrying out feasibility studies, obtaining approvals, preparing cash flow, evaluating suitability of proposal projects, etc.
Planning
Literary ensuring that all the ‘ducks’ are in a row to allow for a smooth ex*****on.
Ex*****on
This is self-explanatory and will involve largely attending site meeting and coordinating the project, if we are lead consultants.
Monitoring
Main function will be to ensure the Client is receiving the best & controlling possible product, ensuring costs are adhered to, etc.
Closing
This involves the final handover and evaluation of the project.
(i) Feasibility Studies
These are now common place and even being undertaken by individuals who are not property experts.
The Department will undertake these either as part of project management above or on a case by case.
(ii) Emerging Markets
This can be broken down into three large areas namely:
Large tracks of land that are changing from a single private use into multiple uses under new smaller titles e.g. Konza City, Lamu Port, large coffee farms (Tatu), etc. The envisaged role for the department will be largely advisory, with other functions such as agency, valuation, etc being undertaken by relevant existing department.
Real Estate Investment Trusts
Management
(iii) Succession & Arbitration & Receivership
This will involve the management of assets that for one reason or another are not in the control of the registered owner, largely due to an existing dispute.
The main aim will be preservation, and effective management of the said assets until the dispute is determined.
Due to the temporary nature of the management, they cannot be incorporated in into the already existing management department, especially in terms of budgeting.
(iv) Research
This again is self-explanatory and will involve research undertaken into the property, market for the benefit of not only the Company but for clients. It will involve:
(a) Sales analysis both for sales and rentals and maintain a register for the same
(b) Auction attendance
(c) Analysis of City Council approved plans
(d) Keeping in touch with valuers at Lands office and other major firms for Comparisons
(e) Keep a register on comparable
(f) Get information from selected Land Control Boards
