Enkavilla properties founder and managing director Lilian Nzula has expertise in projects and partnerships management, team building and operations, business development, risk and compliance as well as finance.
Ms. Nzula also finds value in technology, and has worked across Sub-Sahara Africa with global brand, IBM before co-founding Enkavilla Properties Limited. She says her drive lies in problem solving and embracing a data driven approach to ensure incremental growth in overall value for her organization. She had a chat with Victor Adar regarding various aspects of investing in real estate.
As a customer, why Enkavilla Properties? What makes Enkavilla Properties’ unique?
We are a real estate firm that focuses on addressing our clients’ needs, home ownership, as a customer, we are able to identify your needs and work towards solving the problem, and giving you value for money. We embrace a shared value model to help our clients identify real estate solutions that are ideal and impactful to them.
Was there demand for your units when you started the company? How many units have you sold thus far? How many customers have you served?
When the firm started in 2015, we were keen on addressing our customers’ pain points, there was a huge demand in properties that be bought and developed immediately. We developed the “buy and build” gated communities’ concept that helped our clients invest in their homes in strategic locations such as Kitengela and Isinya. We also focused on corporates and saccos to help them develop viable strategies for real estate investments. Through research and design thinking, we were able to diversify our business pillars property development, property management and real estate advisory and consultancy. We’ve ideally been able to serve over 2000 client both locally and in the diaspora.
How much capital did you start with? Was it a loan, equity, or savings?
We depended on loans and savings
What is the market like in terms of individual investors, or corporate customers?
We are in a space where both individual investors and corporate investors are all running to invest in real estate, individual customers basically focusing on investing for home ownership while corporate customers are keen on growing their investment portfolio, all these entities require strong guidance in terms of investment advisory. We mainly play an advisory role for corporate customers are this is what they truly need.
How many people do you employ?
I have employed over 100 people, initially pre-covid the numbers were high and then covid came in, and we had to adjust, we were keen on not having people go home but we embraced a model that saw us sustain our human capital.
Why real estate? Why did you branch out to start focusing on real estate investments?
I have always had a dream of leaving a positive mark to people, and every day real estate makes sense, it’s a space where it has a lot of sentimental connection, owning a home or investing in the real estate is a sentimental process, helping our clients get it right from the start is what has always been focus.
What is your view of the future of the real estate industry in Kenya? Do you think it is possible to mainstream property access/investment given the current high prices of houses/property, in a property regime that seems designed to lock out the majority?
Well, the current property regime is not designed to lock out the majority, we have a strong affordable housing provision system that will soon bridge the gap. Previously, the real estate landscape solely focused on upper middle class, but times have changed and more people are aware of their housing needs and looking to invest into property hence a need for affordable houses, it started with land then it has quickly changed into having finished products which are houses, not just a house but a quality home.
Again, the future of real estate is bright, owning a home is a need and not a want, we will always look for ways to provide shelter, it’s an ever-changing landscape.
What are the biggest challenges you’ve faced since venturing into real estate?
Well, they are various challenges that I have faced, but key is having the not so qualified marring the markets. It’s making the markets develop cold feet in investing in real estate
Where do you see yourself/your companies in the next two to three years?
As an organization, we play more on the advisory and property management space, we would want our clients have their investments make sense. We want to advise our clients into investing in viable properties and help invest in high yields return investments. As for Property Management we simply want to offer value and reinvent the wheel.
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