In the tumultuous landscape of the Covid-19 pandemic, where industries faced unprecedented challenges, James Muturi Kimani, a former player in the transport business, demonstrated how an entrepreneurial spirit can not only weather the storm but also seize newfound opportunities.
In September 2020, Kimani took a bold leap, pivoting from the transport industry to the realm of real estate.
Here is his story as told by WoK.
Background
As lockdowns paralyzed his transport business, Kimani found himself at a crossroads.
Rather than succumbing to adversity, he saw it as a catalyst for change.
“At the height of Covid-19 Nairobians were chasing any affordable land for residential. I saw that gap and I jumped in, that is how AMCCO Properties Limited was born,” says the former banker during an Interview with the Business Daily.
He chose to liquidate his fleet of lorries and channel his resources into a novel venture, marking the birth of AMCCO Properties Limited.
Kimani’s insight into the needs of Nairobians during the pandemic was the driving force behind his real estate venture.
The pandemic-induced uncertainty had prompted an increasing number of people to seek affordable residential land.
Recognizing this gap, Kimani strategically positioned the company to cater to this demand.
This company specializes in providing plots within the Nairobi Metropolis, primarily focusing on areas like Kikuyu, Gikambura, Thigio, and Kamangu.
What sets AMCCO Properties Limited apart is its commitment to filling a void left by other market players.
Kimani’s observation that many existing companies were selling speculative plots, often failing to address the specific needs of the clientele, opened a niche for his business.
The hunger for residential and commercial plots within Nairobi was palpable, yet only a handful of institutions were truly meeting these needs.
Kimani’s innovative approach allowed him to tap into this burgeoning market, quickly positioning the company as a key player.
However, Kimani’s journey wasn’t merely about capitalizing on a trend.
It was a meticulous journey of research and strategic decision-making.
The areas he chose to focus on, such as Ndeiya, weren’t selected by happenstance.
Ndeiya emerged as a hotbed of real estate opportunity due to a combination of factors.
The region had witnessed appreciating land values, fueled by both Kenyan diaspora investments and Nairobians seeking to capitalize on government-led development initiatives.
Government investments in infrastructure, including piped water, upgraded healthcare centers, and improved security, played a pivotal role in driving the demand for land.
With a visionary eye, Kimani understood the untapped potential of Ndeiya.
Moreover, considering the recent elevation of Ndeiya to sub-county status and the implementation of multiple development initiatives, the entrepreneur observes a noticeable surge in land demand, leading to skyrocketing prices.
“In the last three projects, we have been buying land for double the prices that we had bought a year ago. For instance in Kamangu, plots that were retailing at Sh550,000 in June 2021 are currently retailing at more than Sh850,000,” Mr James Muturi told Business Daily.
New police stations and improved road networks were bolstering security and accessibility, making Ndeiya an attractive proposition for potential investors.
The metamorphosis of once-grazing lands into serene residential environments further fueled the area’s allure.
Kimani’s keen understanding of market dynamics was underscored by his choice to offer diverse pricing options.
By catering to different consumer segments with varying budgets, the real estate company positioned itself as an inclusive player in the market.
Projects like Neema Court in Gikambura, Kamangu Green Garden Phase III, and Amcco Genesis Gardens Phase II in Thigio exemplified this approach.
Kimani’s insight into his clientele—60% women aged 27 to 47 and 10% diaspora customers—underscored his knack for understanding his audience.
“These are Kenyans born and raised in Kiambu and do not want to invest outside of Kiambu because they know the rate of appreciation of the land here is high. They are also looking for affordable properties in Kiambu,” MD shared.
The success of Kimani’s venture can be attributed to his ability to see potential where others hadn’t.
He recognized that Ndeiya’s growth trajectory mirrored that of more established regions, such as Karen.
The area’s proximity to affluent neighborhoods and its serene environment, coupled with government-driven development, created a recipe for success.
In a testament to AMCCO Properties Limited’s commitment to value and transparency, the company boasted a quick turnaround time for title deed issuance—90 days from finalizing payment.
This efficiency, combined with the company’s unique insights and research-driven approach, cemented its reputation as a reliable player in the real estate industry.
