"This initiative seeks to establish Faulu as the preferred financial partner, offering tailored solutions and fostering long-term relationships with landlords and agents, who are key stakeholders in the country's real estate sector," noted Faulu Bank Chief Executive Julius Ouma. While the real estate sector is expanding both formally and informally, challenges persist in product flexibility and accessibility for potential homeowners and borrowers. The KNBS report emphasizes that advancements in construction technologies and property transaction processes will be crucial in transforming the sector. The real estate sector continues to grow rapidly, but obstacles persist in offering adaptable products and accessible solutions for those seeking loans or home ownership. According to the KNBS report, the industry's transformation is significantly influenced by progress in building technologies and improvements in property transaction processes, including buying, selling, and renting.

Source: Daily Nation July 24, 2024 21:28 UTC