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I HAVE HAD MY HOUSE DEMOLISHED BEFORE:
To avoid painful Demolition scenes like this know that Title Deed to your Land is Not Enough. This is Kenya. Therefore Before buying land, seek for the History of the Mother Title. Wale hawapendi History ni Shauri Yao.
*Maybe it was once a Forest land that was never degazetted?
*Maybe it is a Govt Parastatal land that was grabbed and Title deed fraudulently acquired?
*Maybe it is grabbed private Land whose case has been domiciled in Courts for decades? - Wanda originally shared at the SIDEHUSTLE 24/7

https://www.abc.net.au/news/2021-10-27/urban-forest-building-downsizes-south-brisbane/100571768

'World's greenest residential building' cut down to size A planned 32-storey apartment tower with impeccable green credentials is significantly scaled back after Brisbane City Council expressed concerns about its size.

Tokenized Real estate: 2021 Update.

by Max Bijkerk on .tech
Last updated: Sep 6th, 2021 Reading time: 7 min read

The idea of fractional real estate ownership is nothing new. Already since 1960, (Real Estate Investment Trusts) were introduced in the United States.

By pooling investors’ capital in REITs, the real estate market suddenly became much more accessible. You could now invest in real estate without having to buy or manage properties yourself.

Fast forward to 2021, and a new revolution in the world of real estate is unfolding in front of our eyes. This time, it’s called “tokenization”.

Real estate tokenization is the process of partitioning real estate into many small pieces, called tokens. Whoever owns a token, owns a piece of the underlying asset.

These tokens are created during a so-called STO (Security Token Offering), in which the real estate is essentially split up into digital, tradable assets stored on a blockchain.

It’s easy to see why people are enthusiastic about this development. The global real estate market values at around $280 trillion, making it one of the largest markets on earth. At the same time, it’s one of the most illiquid and intransparent markets out there.

In other words: a recipe for disruption.

Blockchain, known for bringing transparency and efficiency to systems in which value is stored and transferred, was envisioned to play the main role in this tokenization disruption.

But how far have we come? Is real estate tokenization actually happening? Is the technology delivering on its expectations?

In this article, we try to give an accurate representation of the current status of tokenized real estate anno 2021.

real estate tokenization process diagram
Why tokenize real estate
Before we dive into that however, it’s important to know why we should even pursue real estate tokenization in the first place.

Here are a couple of reasons.

Low entry barriers
Just like how REITs made real estate investments more accessible to regular people, real estate tokenization does the same - on steroids.

In 2019, a luxury villa in Paris valued at €6.5 million was tokenized and put on the Ethereum blockchain. The asset was subsequently split into 1 million pieces of as small as €6.5 (!)

With a piece of real estate costing about the same price of a burger, tokenization drastically lowers the entry barriers. A much wider range of investors is able to access the real estate market.

Diversification
As the entry barriers of owning tokenized real estate become lower, investors are able to create highly diversified portfolios.

“I’d like one piece of a luxury villa in Paris, two pieces of a shopping mall in New York, and another piece of a flat in Hong Kong please.”

- “Great choice, that’ll be $28.90 please.”

Liquidity
The wider audience that’s able to be reached due to lower entry barriers is not the only driver behind a more liquid real estate market.

As digital tokens on a blockchain are able to be securely and efficiently transferred without a middleman, trading of these asset-backed tokens suddenly becomes much easier and cheaper as well, leading to increased liquidity.

Increased efficiency
Blockchain technology, with its ability to automate processes and to cut out middlemen, can lead to cheaper and more efficient processes.

As Stephen Macdonald, Australian partner at The Proptech Connection, a specialist firm working to bridge the gap between technology, real estate and investment, points out in an interview with Blockdata: “The use of smart contracts has the ability to drive down fees and costs, which will be positive for real estate investors and the sector.”

Valuation of Britam Tower falls Sh1.1bn on low occupancy.

The oversupply is beginning to bite. Many offices are virtually empty--thanks to working from home, current economic realities.

Landlords need to rent de-escalate to match these realities, like yesterday. We spoke about this here a while ago.

Full read:
Britam Group has cut the valuation its 32-storey tower in Upper Hill by Sh1.13 billion on the back of occupancy levels falling below half.

The diversified investment firm says in latest disclosures to shareholders that the tower, which was completed in 2017, is currently 47 percent occupied.

Britam cut the valuation of the building from Sh8.04 billion in 2019 to Sh6.9 billion, coming on the back of Covid-19 disruptions that hurt demand for office spaces as firms turned to remote working to lower risks of contracting the virus.

“Britam Tower is currently at 47 percent occupancy rate,” the firm said in response to questions by shareholders in recent annual general meeting.

The figure is lower than the 98 percent occupancy recorded by UAP-Old Mutual Tower—a skyscraper completed mid-2017 and located in the same area.

The low occupancy level on Britam Tower translates into millions of shillings of lost rent despite the firm having to incur maintenance costs to keep the building attractive for potential tenants.

Britam has in reaction to the low occupancy said it will now stop new property developments and instead focus on property management to reduce its exposure to financial risks and lift performance.

“In the last few years, the performance of the commercial and residential housing property in Kenya has been negatively affected by excess supply amid depressed demand,” says Britam in annual report.

“The impact has been low occupancy levels, low rental yields, and consequently revaluation losses depressing profitability.”

Located in the upmarket Upper Hill area, the ultra-modern tower has a total lettable space of 350,000 square feet with 1,000 parking bays and was eying diplomatic missions, multinationals, private companies, and financial institutions.

Monthly office rents in Nairobi’s prime areas dropped by Sh19.40 per square foot to $1.12 (Sh120.71) in the first quarter of 2021 in an environment of remote working, Knight Frank said in a report released in June.

Britam last year booked Sh9.1 billion net loss from a net profit of Sh3.5 billion in the previous year due to underperformance of the asset management class and valuation loss from property investments and equities.

Net loss from investment property— which comprises rental income, fair value movements in investment properties and investment in property funds— worsened by 97 percent to Sh1.5 billion due to Sh2 billion revaluation losses.

firm Centum wants to sell over 20 per cent stake in Two Rivers Development Ltd and become a small shareholder as it tries to cut debt and shore up revenues.

Chief Executive James Mworia said they are looking at getting a strategic buyer who will dilute their stake to around 30 per cent to bring in money to retire the portfolio’s debt.

At the moment, Centum holds 58 per cent in Two Rivers Development Ltd while AVIC International holds 39 per cent, and ICDC owns 3 per cent but the business was loss making to the tune of Kes 1.9 billion in the year ended March 2021.

Centum reported Kes 606 million loss in the year ended March being an improvement from Kes 3.4 billion loss at the same stage in c2020.

“We want to bring in some equity investment and that of course will dilute us, we might be 30 to 35 per cent, we do not know. Someone said to me once I would rather be a tail on a lion than the head of a dog,” Mr Mworia said on NTV’s Business Redefined show.

Centum has been making the bulk of their money by offloading their portfolio businesses each year. This is the first year the company has not sold a portfolio in a while.

In 2019, Centum recorded a profit of Kes 7.38 billion attributed to the sale of 53.9 per cent stake in Almasi Beverages Limited and 27.6 per cent stake in Nairobi Bottlers Limited for Kes 19 billion.

Centum says the deal injected Kes 12.5 billion to the company’s income, an aspect that has not been repeated this year.

The company strategy has been based on buying companies on the cheap and improving their balance sheet to sell at a high but now says it has stopped aggressively acquiring companies due to the tough operating environment.

Mr Mworia says the market is swamped with offers but some of the companies are suffering from income shortfalls and too much debt which makes them unattractive.

Buyers are also not too sure when market conditions will improve to allow them to turn around struggling firms or even find a market for them once they do.

“We have looked at 200 deals but what we are asking is not how much can we make but how much can we lose. You do not want to buy a business and the first thing you do you start provisioning for impairment,” he said.

“We were some of the most aggressive companies some years ago but now we are conservative,” he said.

Source: maudhui.co.ke

Ekeza Refunds: members of the troubled Ekeza Sacco have received compensation amounting to Sh. 750 million. This has come in refunds of cash and land.

The sacco is associated with David Gakuyo who was required to forfeit property under his real estate firm, Gakuyo Real Estate. The forfeited property was in turn used as part of the refunds to members who had invested with he sacco. The properties are located in Subukia-Solai, Joska, Gwa Kungú, Kilimambogo, Mariakani, Konza Goshen, Konza Phase 6 and Nanyuki kwa Daiga.

“What was supposed to be refunded back was Sh. 1 billion and it was agreed that properties worth Sh. 881 million would be handed over to the sacco to compensate grieving members and that is what we have been using to pay back our members,” James Kagoni, who was appointed as acting chief executive officer at Ekeza by the government said.

Out of the Ekeza refunds, there now remains some Sh. 250 million to be disbursed to investors. Some 1,431 members with share deposits of Sh. 50,000 to Sh. 100,000 have also filed withdrawal forms and will get over Sh. 102 million in cash.

An audit by the Commissioner of Cooperatives in 2018 showed that the sacco had a cumulative Sh. 2.5 billion in savings between 2014 and 2018. However, David Gakuyo had transferred a huge chunk of this money to his personal accounts where he used it to purchase among others palatial homes in posh neighbourhoods in Nairobi.

Gakuyo reportedly transferred the money between 2015 and 2017. The audit report was prepared by a team appointed by Commissioner for Cooperatives Mary Mungai in December 2018. The report showed that Gakuyo transferred Sh. 88 million in 2015, Sh. 850 million in 2016 and Sh. 625 million in 2017. - Source.

✨✨✨THE L👀 K STOPS HERE!💥
PROJECT SUMMARY:
• 40 Residential blocks
• 16 Units per block
• 640 Apartments units
• 750 Parking spaces, 1 for each apartment and extra parking for visitors
• 35 Acre park on the Southern side of the development set aside by Tatu City.
• Green spaces between blocks and next to roads

2, 3 & 4 BEDROOM APARTMENTS!

👉 Open plan lounge opening up to a spacious balcony with glass railing and sliding aluminium doors
👉 Futuristic style imported kitchen with mosaic backsplash, standard extractor hood and a breakfast bar.
👉 Strip lights and spotlights illuminating the kitchen space beautifully
👉 Polished Italian style granite worktops
👉 European 85kg stainless steel, high security door.

CALL MARTIN NOW: For Viewing and DETAILS.
+254700507718

Chat me up for the link.

Back in March 20th we posted this: https://www.facebook.com/propertyzote/posts/10159221435749675 Some people were blaming the media for this scam. How was the media to know that this was a scam? Media is paid to advertise not to investigate their customers. Getting rich quick via keyboard farmers.. just learnt that word. Many were cautioned even in farming groups like Dairy Farming Kenya - DFK where I actually borrowed this post, but many they threw caution to the wind. I learned of another scam called Watermelon Masters also conned people without using print and TV media but fluidly using social media. If you want to make millions in farming discard your suit, or in any other venture roll up your sleeves and get down to work.

In 1958, Warren Buffett spent $31,500 to buy a modest home (where he still lives).

If he slept in the street and put all that money into Berkshire Hathaway — when he fully took it over in 1964 — it would now be worth $882,000,000.

Lesson: Don’t buy real estate., Do you Agree?

Lets jump in: Time is money. https://zoom.us/j/99511289699?pwd=cHZ5eDJhektwamlzc24rdjhjZ0d4QT09

https://realsmart.io/ =start_here Launching today.

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Tomorrow around this time... 8pm. Not to Miss.. Comment or request for a link. Times are changing.. meets . Meeting Can only take 100: https://us02web.zoom.us/j/86872465214?pwd=aGJyNytHR2FQbFR4RGlDTWhsL05oUT09

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Passcode: 121063

Dump Bitcoin, Buy Doge coin

Just-In: Real Estate Billionaire Rick Caruso Now Accepts Bitcoin for Rent on His Properties.

Rick Caruso, the American Real Estate billionaire announced that his company Caruso Properties would accept Bitcoin as a payment for rent on its properties across Los Angeles. Caruso Properties have partnered with Gemini cryptocurrency exchange to facilitate the Bitcoin payments and has also invested in Bitcoin as per a report in LA Times.

The report also highlighted that Caruso Properties 1% treasury was converted to Bitcoin, however, the estimated value of the deal was not revealed. The recent Bitcoin investment and accepting Bitcoin payment has put Caruso in the league of Tesla who also invested $1.5 billion in Bitcoin and started accepting Bitcoin as a payment for Tesla cars.

Caurso said that Bitcoin has proven its worth as a hedging asset and explained, I believe it’s a good hedge to diversify the company’s finances and has already proven to be a good investment for us.”

he added

“I believe bitcoin and blockchain are going to be doing the same in the future and We want to be ahead of the curve.”

Would Elon Musk Pay His Rent in Bitcoin?
Elon Musk may become the first client for Caruso to pay rent in Bitcoin as Tesla has rented a property from the billionaire’s real estate firm for a car dealership in LA. Musk recently announced that US customers can pay for Tesla cars in Bitcoin and also assured that the Bitcoin won’t be converted to fiat.

“I haven’t talked to Elon about it,” Caruso said. “He may be the first, as a pioneer, to pay his rent in bitcoin.”

This bull season Bitcoin is not just about price rise, in fact, 2021 could prove to be a breakout year for Bitcoin mainstream acceptance. Fortune 500 companies such as Tesla and MicroStrategy and now Caruso Properties are using Bitcoin as a Treasury reserve, while one can now pay rent and buy cars using .

I take it we are familiar with this Chap.. Grant Cardone One of the few people I follow as he walks and work the talk. Who agrees.. or we are all still stuck to the principle that you must buy your home..?? comments fupi fupi please..

Goldenscape Group Limited founder and CEO Peter Wangai Muriithi was Thursday arraigned at the Milimani Law Courts for allegedly defrauding unsuspecting victims of millions of shillings through fake greenhouse investment deals.

Wangai appeared before Chief Magistrate Martha Mutuku where he was charged with several counts of obtaining money by false pretense.

He denied the charges and was released on a cash bail of Ksh.2 million.

The court further directed that he deposits his passport with the court, this after the victim’s lawyer argued that the accused was a flight risk.

The matter will be mentioned on April 1, 2020.

Wangai obtained varying amounts of money from various individuals between 2019 and 2020, promising them of handsome returns on their investments. Source Citizen TV

House for Rent in Rubia Estate, Langata. 4 bedroom house. KES 70,000 per month