Britam Group Kenya headquarters. [Photo/the-star.co.ke]
Britam group is set to spend Sh3.5 billion of its Sh9 billion equity fund on real estate projects.
Group Managing Director Benson Wairegi has said the firm would use the money on various projects, being money raised this year as part of the firm’s 2016-2020 strategic plan
According to Mr Wairegi, Britam had acquired land in Nairobi’s Ngong area, Kilimani, Hurlingham and Kileleshwa, among others, where they plan to invest as aprt of revenue diversification plan.
“We will be working with our advisors to see which is the most viable area to invest in, although property is one of our major initiatives,” said Mr Wairegi. .
The firm has already started the construction of a Sh12 billion serviced apartments project in Kileleshwa.
The project is scheduled to end by 20189.