- Imagine searching for a rental house in Kenya with minimal hassle, no need for endless trips, and no surprise fees - just a few simple clicks on your phone.
- A Kenyan business owner, motivated by Dubai's tech-infused real estate model, has launched a free platform that is transforming the way people search for homes.
- He intends to achieve efficiency, transparency, and investor confidence in Kenya's property market through the strategic application of technology and informed policy-making.
Alex Malova Kidake, a Kenyan entrepreneur with extensive experience in business and international ventures, has identified substantial potential in Kenya's real estate sector.
Drawing insights from Dubai's thriving property sector, he is introducing innovative solutions to improve the efficiency and transparency of Kenya's housing market.
3. **Off-plan sales
During his time in Dubai, he observed that the property business operates under strict government regulations, with annual profit margins limited to 11%.
This regulation prevents the exploitation and stabilizes the local currency.
Rental agreements are rigorously enforced, ensuring conformity to legal guidelines and promoting investor trust.
Any disagreements over rent payments can result in severe repercussions, demonstrating the rigid framework of Dubai's property regulations.
The advancements of technology are influencing the Dubai real estate market.
One of Dubai's key contributing factors to its success lies in its seamless integration of technology within its housing sector.
The government has made significant investments in real estate and actively promotes properties through well-organized exhibitions.
Influenced by this innovation, the entrepreneur has brought in similar technology to Kenya, enabling potential renters and buyers to search for rental properties online without the need for repeated travel.
Users can easily explore properties through the Scraj Home App and website by filtering listings based on location, the number of bedrooms, and their desired budget.
For example, someone looking for a house in Buru Buru can easily search by location and directly get in touch with the property owners—at no cost whatsoever.
Dubai's innovative marketing strategies
Beyond technology, Dubai's real estate companies have distinguished themselves through innovative marketing approaches.
Guests visiting our properties are often transported in high-end vehicles such as Mercedes-Benz G-Class vehicles, which contributes to the overall luxury experience.
The city has also adopted a shared ownership model, allowing individuals to possess a property for a specified duration each year.
The Dubai government offers a five-year residential visa to encourage property investment.
Additionally, the Dubai government offers various incentives to investors, including a 5% registration fee for off-plan properties and 2% for ready properties. This reduces the financial burden on buyers and makes it more affordable to invest in Dubai real estate.
Infrastructure development and a low crime rate have also played a crucial role in Dubai's thriving real estate market.
The UAE's solid and stable currency, tax-free environment, and substantial rental returns have drawn in investors from around the world.
Dubai's first-class infrastructure, booming tourism industry, and wide range of property choices also make it a leading destination for investors.
The Kenyan entrepreneur aims to transform the country's real estate sector by utilizing technology and maximizing efficiency.
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The founder of Kidake aims to simplify the process of searching for rental properties and promote greater transparency within the rental market.
He envisions a future where Kenya's real estate industry becomes more accessible, investor-friendly, and technologically advanced by adopting lessons from Dubai.
"My kids live and attend school abroad because of the successful business ventures I've made in the UAE, thanks to its thriving economy," he added.
As Kenya's urbanization accelerates, these initiatives have the potential to transform the property market, making homeownership and rentals more accessible and streamlined for everyone.
How Kidake became rich
Kidake was raised in a poor household with multiple spouses and is the only one among her 19 siblings who is educated.
His desire to change his life story led him into the mtumba business, which eventually branched out into computers.
Kidake has since built his wealth systematically to the point of owning a multi-million dollar business empire.
He now possesses more than ten vehicles, a house in Dubai, another in Lavington, and a third in Nangili, Sabatia County.