Choosing The Right Partners For Your Development in Kenya
Whether an investor or a Kenyan in the diaspora intending to build a house or purchase a property in Kenya, the best place to start is always to get somebody on the ground to do the project preparations and facilitation for you.
Most of the time, it starts with a basic online search and checking social media, reviews. The most reliable way is always through people you know, photos of completed work and recommendations. But even those may fail to work out at the end of the day.
Partnership is sometimes misunderstood and sometimes taken too far. When it comes to business, the approach to partnership is not the same as how we see marriages or friendships. This is business. It is transactional, but most importantly, both parties must be aligned to the same goal.
In the business world today such arrangements could be in form of joint ventures in real estate development, public-private partnerships in infrastructure, joint tenancy in property ownership and many more.
So how do you choose one? How do you settle on a development partner, remembering that this may be somebody you will be working with for a very long period of time? It should not be taken for granted and needs to be approached from a long-term perspective.
Firstly, its someone who understands the ins and outs of the space in which you are operating. For example, if looking at property purchase, your contact should be having information on prices, best locations, reliable developers, legalities etc at their fingertips. As such, you will be able to make informed decisions, capitalize on rare opportunities and in advance as well as reducing exposure on different risks.
Secondly, the person should show capacity to take ownership of the project. This means that he has to make it work as the project failure is his failure. The best way to know this is by observing how they behave when challenges arise. For example, how do they deal with a difficult developer in terms of communication? How do they handle a situation where the legal aspect is catching up because something was mistakenly missed? These are things you observe over time.
Lastly, is the general representation of the person. How good are their communication skills? How well do they get along with people? Remember, partnerships require many meetings, discussions, negotiations and decisions. Good negotiation and communication skills are therefore very important.
The final step would be getting into contracts. A contract is recommended to clearly define the partnership, responsibilities, obligations, and deliverables. However, contracts should not be weaponized. You do not sign a contract and then sit back thinking that the contract will protect you from everything that can go wrong.
Trust is the crux of it all. Everyone knows their part and will need to do it fully.
In conclusion, choosing the right development partner is ultimately about more than finding someone who can transact on your behalf. It is about finding someone who understands your objectives, takes ownership of the outcome, communicates effectively and remains accountable throughout the project lifecycle.
the approach to partnership is not the same as how we see marriages or friendships. This is business. It is transactional, but most importantly, both parties must be aligned to the same goal.
For more information, reach out to us via info@rickfes.co.ke
At Rickfes Construction Ltd, we offer end-to-end real estate development consultancy and project management services for investors developing property in Kenya. For a diaspora or foreign investor, this can also mean having a professional development partner on the ground who understands the Kenyan market and can represent your interests while you remain wherever you are. We believe that when you win, we win too.
