Agenda 15-16 April
Platinum sponsor
Gold sponsor
Silver sponsor
Bronze sponsor
Industry Sponsors
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15 April 2015
07:30 to 08:30
Breakfast and Registration
09:00 to 09:15
Welcome and Opening address by our Platinum Sponsors
James Muratha
Regional Director
STANLIB East Africa
09:15 to 10:00
Regional Economic and Political Overview-East Africa
David Ndii
Managing Director
Africa Economics
This year heralds interesting times for East Africa as each of its member states tackle unique
experiences to prosper. Kenya, the largest economy in the region is still faced with insecurity challenges
while Tanzania is banking on re-basing its economy for a better 2015. Rwanda will be seeking to
re-ignite its economic spark, whilst Uganda looks at its fledgling oil industry. This session will provide
delegates an opportunity to discuss key drivers of growth and allow us to compare data for the various
East African countries.
Key Points to be elaborated on:
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10:00-10:45
Political and Economic Governance of East Africa
Macro Economic outlook
Foreign Investment into the East African Region
Ease of doing business and growth challenges
Drivers of the East African Growth Story
How does the growing property industry improve the economic prospects?
East Africa vs. Competing Emerging Markets.
Policies and changing economic landscape on the continent
How to structure a successful property development in East Africa?
Property Developments can be tricky to structure, especially when dealing with new markets. This
session will give you step by step guide on how to effectively manage a) the purchasing of your land
b) the design phase and construction of your project c) fund-raising and d) any legal challenges that
may arise.
Obtain an in-depth understanding from our lawyers, Bankers, Property and Asset managers
In this session we cover:
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10:45-11:00
Land ownership rights
The importance of finding a good local partner in East Africa
Cross border financing vs. Local financing – Dollars vs KSH vs TZS
Criteria/ Checklist required for bank finance
Design and cost challenges in East Africa.
What banks look for when lending to developers?
Africa Speed Networking Session
This session will allow individuals to get to know the players in the room and hear about their strategy
in Africa. The networking format will assist delegates with building contacts and growing business
relationships across the continent
11:00 to 11:15
Tea Break and Media Interviews
11:15 to 11:45
The future of Airport cities in East Africa - a look at the growth of JKIA
In this session we elaborate on the future of Airport cities and the importance airports play in building a
country and attracting foreign FDI.
• Understanding the plans for JKIA as a regional transport hub
• A clear vision of the future - what airports of tomorrow represent and what is the plan for regional
airport development
• Insights on the medium term project plans to ensure EAC Airports can keep pace with the current
growth in aviation demand
• Real estate development and investment around airport nodes- hotels, logistics and commercial
requirements?
• Do regulations hamper the approach to airport modernisation programmes
Lessons learned & solutions for successful airport city development
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Godwin Wangong’u
Senior Partner
Mboya Wangong’u & Waiyaki
Advocates
Nnema Byrd
Principal
STANLIB
Ralph Gunn
Head of Debt Products East
Africa region
Stanbic
Kevin Teeroovengadum
CEO
AttAfrica
Carol Musyoka
Master of Ceremonies
Mr Raphael Nzomo
CEO
Afrika Aviation Services.
11:45-12:30
Future of REIT’s in the East Africa Community
Kenya has become the third country in Africa to establish a REIT as an investment vehicle for private
or public investment funds. Many investment companies now look to capitalize on this international
trend in East Africa.
Kenneth Kaniu
CIO
STANLIB Kenya
In this session we discuss:
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Types of REIT’s – Income vs. Development
Formation and Structure of the REITS in East Africa – Including a look at the tax benefits
The ability for REITS to invest in regional property?
Prospects for growth in market capitalization of REIT industry?
12:30 to 13:30
Lunch
13:30 to 14:30
Project Showcase - 5 developers, 5 exciting projects!
In this session we allow 5 developers within East Africa to present their projects, giving the audience
the opportunity to see first hand how the East African landscape will change in the coming years. This
will be followed by a Q&A where presenters will answer any delegate questions in order to obtain
insight into:
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What factors contribute to the success or failure of projects in East Africa?
The changing face of tenants profiles within the region
Lessons learned when buying land
Growing competition between developers – is there enough room for everyone?
Where are the development opportunities in the EAC?
Ronal Samani
Director of Corporate
Development
AMS Group
James Mworia
Group CEO
Centum Investment Company
Daniel Kamau
Head of Real Estate
Fusion Capital
Ken Luusa
Executive Director
Acorn Group Ltd
Dr Dan Twebaze
Managing Director
Twed Property
Development Company Limited
14:30-15:15
Keeping projects on time and within Budget
In this session, we outline a construction site from beginning to end, and elaborate on the success and
failures of a project in an African context.
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Construction costs across the continent
Times to deliver projects
How to work around poor Infrastructure and logistical difficulties.
Availability and importing of construction materials
Challenges of logistics on site in East Africa
Different construction techniques and associated costs Competition and pricing
Timothy Manyuira
Founding Director
Tandem & Stark
Anthony Orelowitz
Director
Paragon Architects
Azmeena Bhanji
Manager of Real Estate
Development
PDM
John Rogers
Construction Director
MML
15:15 to 15:30
Tea Break and Media Interviews
15:30-15:45
The Africa Report
The long-term growth outlook for Africa appears bright. With a large and growing, young and
increasingly wealthy population, Africa has a demographic advantage that few other parts of the world
will be able to match over the coming decades. In this session we obtain an informed comparison on
EAC markets
EAST AFRICA PROPERTY INVESTMENT SUMMIT 2015
Peter Welborn
Chairman
Knight Frank Africa
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15 April 2015
15:45-16:15
Comparing EAC markets
The various regions across the continent present a story of rapid economic growth and an expanding
consumer class- East Africa is no different! Each region also has its own unique set of challenges.
This session will allow us to consider East Africa as a key investment hotspot for future real estate
investment
The above is followed by a panel discussion where we will compare the regions based on the following:
Opportunities in the Development Sector
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16:15-16:45
The future nodes around airports and ports in East Africa
Growth Forecast across the EAC
Infrastructure growth
The Housing gap across the East African market
Land ownership rights and ease of doing business
Expected IRR’s for typical projects within the region
Construction cost and the ease of development in each region.
Confidence through Professional Standards
Professionalism is not the job you do, it’s how you do the job. As a consequence of globalisation,
market efficiency requires consistency, transparency and comparability. International standards are the
backbone. In This session we understand
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Peter Welborn
Chairman
Knight Frank Africa
Ben Woodhams MRICS
Managing Director
Knight Frank Kenya
Gikonyo Gitonga
Managing Director
Axis Real Estate Ltd
Jonathan Yach
CEO
Broll Kenya
Mark Walley
Managing Director, EMEA
RICS
IFRS* and valuation – the link (*International Financial Reporting Standards)
The International Standards Coalition
Better standards = Increased Transparency
Market confidence leads to sustainable investment
Professional ethics
Global Standards and local practitioners
16:45 to 17:00
Closing remarks and questions
17:30-19:00
Cocktails and Dinner at Kempinski
16 April 2015
07:00 -07:30
Breakfast and Registration
07:30 –08:30
Master Class-What Drive’s Value in Real Estate?
An introduction on how to perform property valuations and calculate yields. This seminar will use
offices in Nairobi for calculations and Kenyan Retail to help illustrate the theory behind Real Estate
Markets and Property Market Cycles.
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08:30 -09:15
Interaction between Space, Asset and Developer Markets
The Property Cycle and the case for Kenyan Retail
How to calculate value, determine yields and adjust for risk
Trends in the Nairobi Office Market
Africa Insight Session
The past decade has seen slow and steady economic growth across the continent of Africa. But co
Author “The Fastest Billion” Arnold Meyer talks about Africa’s boom. He talks through a few of the
indicators -- from rising education levels, African urbanisation to expanded global investment (and not
just from China) -- that lead them to predict rapid growth for a billion people, sooner than you may think.
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Natalie Bayfield
Lecturer-Department of Land
Economy
University of Cambridge
Arnold Meyer
Director
Nera Capital
16 April 2015
9:15-10:00
Beyond the capital cities- exploring growth nodes in outlying provinces.
East Africa’s previously dormant, satellite towns are gaining elevated attention as agriculture, oil, gas
and improved transport connectivity provide a springboard for growth. These towns, examples such
as Nanyuki, Dodoma, Eldoret, Kisumu, Jinja and Arusha all have unique opportunities for real estate
developers and investors.
In this session we discuss:
• The type of developments needed in these satellite towns
• What are the drivers of growth in these secondary towns? Education, Tourism, Mining, oil,
Agriculture, major transport routes?
• The ease of developing in these towns and challenges with regards to land ownership
• What does this market need and how do we bridge that gap?
• The connectivity from a businessman’s point of view – how easy are these places to access?
• What will be the major ports after the completion of the LAPSAT rail project? And how will this
affect development?
• Rentals and Returns compared to the major capital cities?
• How do the investors/ developers deal with construction risk – local contractor or international
player and how does this affect the cost of the development.
10:00-10:30
Tea Break and Media Interviews
10:30-10:55
The future of retail in East Africa
The time is thus ripe for big brand retailers to set up shop in Africa. Many are using East Africa as a
springboard into Africa. The rapidly emerging middle class and increasingly wealthy consumers are
embracing western brands, products and lifestyles. At the same time, retailers need to understand the
importance of supply chains, labour costs and consumer dynamics
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10:55-11:15
Nakumatt Holdings is today the leading retailer in East Africa. They operate nearly 50 branches across
Kenya, Tanzania, Uganda and Rwanda. For more than two decades now, they have shaped and built
their business on their founding principle of providing a variety of affordable, quality brands as well
as excellent and superior service to their customers. In this session we learn from one of the brains
behind the brand:
11:15-12:00
Fred Msemwa
CEO
Watumishi Housing Company
Jonathan Jackson
Chairman
Lordship Africa
Thiagarajan Ramamurthy
Regional Director - Strategy and
Operations
Nakumatt Holdings Ltd
Malcolm Horne
Group CEO
Broll Property Group
We receive analysis from the CEO of Africa’s leading retail property manager
Understanding the rise of the African middle class and the impact it has on the retail market.
International retailers are flowing into the region although barriers to entry and ease of doing
business might be a deterrent to foreign investment.
How do you see the retail environment changing in East Africa?
How does East Africa compare to the rest of Africa
Retailer expansion in East Africa
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Heri Bomani
CEO and Group Managing
Director
Pangani Group
Thiagarajan Ramamurthy
Regional Director - Strategy and
Operations
Nakumatt Holdings Ltd
Closer look at retailer strategies – each country presents retailers with specific challenges and not
even the most hardened Africa players are immune from country failures.
Do logistical issues pose a risk to the retailer’s African expansion?
What are retailers looking for when searching for housing for their brands?
How does turnover rentals affect retail trade and expansion
What do retailers look for when entering the market?
How do you feel about the competition entering the EAC market?
Bridging the residential Gap in East Africa
Rapid urbanisation in response to population growth and sustained economic expansion is boosting
demand for residential rental stock in Africa. The lack of affordable home loan solutions is resulting in
an enormous rental market and in turn giving rise to high yielding mixed use developments across the
region, In this discussion we elaborate on:
• What is the demand for residential in the East African market?
• Does the high cost of construction make it unaffordable to own a house in East Africa?
• Would Low cost residential developments be lucrative investments for the rising middle class?
• Does the lack of affordable home loan solutions open the door to a lucrative rental market?
• Are Governments offering any incentives for developing residential developments?
• What kind of residential offering is in demand? Low cost housing, mixed use developments, social
housing?
12:00 to 13:00
EAPI Closing lunch at the Kempinski
13:00-17:00
Site Tour-Two Rivers
EAST AFRICA PROPERTY INVESTMENT SUMMIT 2015
Aneesa Arshad
Founder and CEO
Lamudi East & Southern Africa
Dan Karua
Managing Director
Lamudi-Kenya
Mustafa Suleimanji
Country Manager
Lamudi-Tanzania
Shakib Nsubuga
Managing Director
Lamudi-Uganda
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