{"id":27118,"date":"2023-03-14T09:33:00","date_gmt":"2023-03-14T09:33:00","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm"},"modified":"2023-03-14T10:03:03","modified_gmt":"2023-03-14T10:03:03","slug":"mauritian-firm-opens-kenya-office-to-grow-real-estate-arm","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm","title":{"rendered":"Mauritian firm opens Kenya office to grow real estate arm"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Mauritius-based Grit Real Estate Income Group has established a fully-fledged Kenyan office to serve its growing portfolio of assets in the East Africa region which include retail, storage and high-end residential property. The company said that it has increased its headcount by 21 to cater for the Kenya unit, as well as a new representative office in Dubai.<\/p>\n

Grit\u2019s move to enhance its presence through the office is indicative of the growing importance of the local market to its overall performance, with Kenya accounting for 11.7 percent ($2.6 million\/Sh335 million) of its net property income of $22.12 million (Sh2.85 billion) in the six months ended December 2022.<\/p>\n

\u201cDuring the period Grit has established a fully operational office in Kenya (to service the increased portfolio in the East Africa region as well as a representative office in Dubai).<\/p>\n

In line with the above and to continue servicing the growth initiatives of the Group, the Group increased headcount from 84 to 105 staff over the comparative period,\u201d said Grit in its financials for the six-month period.<\/p>\n

The company\u2019s direct and indirect exposure in the country includes manufacturing facilities, a mall, warehouses and a diplomatic housing estate. Grit in March 2022 completed the purchase of Orbit Products Africa\u2019s manufacturing facilities from businessman Sachen Chandaria in a deal worth $53.6 million (Sh6.9 billion).<\/p>\n

It subsequently sold a 30 percent stake in the Mlolongo-based facility in July to Botswana real estate firm Letlole La Rona Limited (LLR) for an initial consideration of $7.23 million (Sh932 million).<\/p>\n

Grit holds a minority stake of 11.25 percent in Letlole, making them related parties. The Mauritian firm also owns half of Buffalo Mall in Naivasha and a pharmaceutical warehouse along Mombasa Road that it leases out to South Africa\u2019s Imperial Health Sciences Logistics.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Mauritius-based Grit Real Estate Income Group has established a fully-fledged Kenyan office to serve its growing portfolio of assets in the East Africa region which include retail, storage and high-end residential property. The company said that it has increased its headcount by 21 to cater for the Kenya unit, as well as […]<\/p>\n","protected":false},"author":84,"featured_media":27117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,245,728,241],"class_list":["post-27118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-mauritius","tag-dubai","tag-mauritius"],"yoast_head":"\nMauritian firm opens Kenya office to grow real estate arm - Mauritius<\/title>\n<meta name=\"description\" content=\"Mauritius-based Grit Real Estate Income Group has established a fully-fledged Kenyan office to serve its growing portfol ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mauritian firm opens Kenya office to grow real estate arm\" \/>\n<meta property=\"og:description\" content=\"Mauritius-based Grit Real Estate Income Group has established a fully-fledged Kenyan office to serve its growing portfol ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-14T09:33:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-14T10:03:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/03\/postQueueImg_1678773978.48.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1160\" \/>\n\t<meta property=\"og:image:height\" content=\"652\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mauritian firm opens Kenya office to grow real estate arm\",\"datePublished\":\"2023-03-14T09:33:00+00:00\",\"dateModified\":\"2023-03-14T10:03:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm\"},\"wordCount\":309,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/03\/postQueueImg_1678773978.48.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Dubai\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritian-firm-opens-kenya-office-to-grow-real-estate-arm\",\"name\":\"Mauritian firm opens Kenya office to grow real estate arm - 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