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Homereal estatesreal estate agentThe Billionaires Behind Lloyd Masika Limited Kenya

The Billionaires Behind Lloyd Masika Limited Kenya

By Isaac Blessings

If you have ever stepped foot in Nairobi chances are high that you have come across a Lloyd Masika Company poster on several buildings. From high end malls, commercial buildings and private estates-this company has grown to become one of the biggest and most recognisable Real Estate firms in Kenya. However, what most people don’t know is that one of its founders is actually a Kenyan by the name David Masika. In this article, we take a look at the billionaires behind this successful company.

David Masika

David Masika was born and raised in the western province of Kenya where he spent pretty much all his childhood and teenage years. He later joined the University of Nairobi where he graduated with a Degree in Land Economics. He began his career in 1974 as a Land Valuer at Tysons Habenga Limited before being promoted to the director position just a year later. It is during this period that he took time to discover and gain experience in as far as the real estate industry is concerned. He then later left the company in 1979 to form Lloyd Masika limited together with his European colleague- John Lloyd. 

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Masika has since held different positions including; Managing Trustee of National Social Security Fund (NSSF), Chairman of the Kenya Power and Lightning Company (KPLC), Managing Director of Tana and Athi Rivers Development Authority (TARDA) and as the Chairman of the Kenya Meat Commission (KMC). In 2017, he unsuccessfully vied for the Makueni gubernatorial seat using the Wiper party ticket and claimed to have been rigged out of the nominations in favor of the incumbent – Prof. Kivutha Kibwana. He is currently the Chairman of Cheshire Disability Services and a Board member of K-Rep Bank, Pioneer Holdings Limited and the Nairobi Hospital. At Lloyd Masika Limited, he serves as the company’s Chairman.

John Lloyd

John Lloyd is a Chartered Surveyor, a Registered and Licensed Valuer and Estate Agent. His first job when he arrived in Kenya was at the Department of Lands where he worked as a Valuer from 1964 and later in the Ministry of Housing. He quit four years later and got employed at Tysons Habenga Limited in 1969 where he worked as a Valuer. Masika joined him in 1974, the two only worked there for five years before exiting to build Lloyd Masika Limited. John Lloyd later retired from the company and only serves as a lead consultant for the firm.

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Lloyd Masika Limited

The company was first established as a Valuation firm in 1979 before expanding to estate agency and management services. The company provides professional valuation and estate agent services which are divided into three departments; Valuation/Consultancy Department, Management Department and Agency (Letting and Sales) Department. At the moment, Lloyd Masika boasts of a total property portfolio of over 1 million square feet of commercial space and over 800 estates and residential places.

Some of the big commercial properties handled include Sarit Center, Stanbank house, Parklands Plaza, Galana Plaza, Barclays Plaza, Teleposta Towers, Crossroad Mall, Corner House, The Mall in Westlands and the Norfolk towers among very many others. 

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Some of the major residential places and apartments managed include Nanu apartment, Longonot Apartments, Arborville Apartments, Nabro Apartments, Duncan Court, Opal Court and Stands Apartments.