Industrial real estate management in Kenya

Abstract

The study looks into the Estate Management of industrial real estate in Kenya. Estate Management is the skill of organizing or running the real estate property by using the available resources to ensure that the real estate remains an income producing entity. An estate manager is therefore the person who ensures the smooth operations of this real estate. Industrial real estate is any land or building used for production processes such as manufacturing, storage and distribution of tangible goods. The study set out to investigate the functions performed by the real estate manager with emphasis on the Industrial Estate. It also investigated why there are virtually no land economist estate managers in industrial real estate in Kenya today. This poses a problem because an estate manager is trained (is a Land Economics degree holder) to manager all kinds of real estate. The investigation was carried out by looking at how industrial firms are currently managed, and by whom, their qualifications and problems encountered in their management. It also examined the role played by estate managers in industrial real estate in Kenya and where there was no estate managers" to find out who performed this estate management functions. The study also analysed the maintenance practices of the industrial firms, i.e. the frequency and maintenance problems. The staff welfare aspect was considered as part of management as manifested through the provision of housing, mortgage and medical facilities. The data collected was mainly though recorded information and interviews. The findings of the study reveal that estate management is carried out by others other than Land Economics degree holders, and that there is a lack of awareness of the potential of a ''trained (a Land Economics degree holder) estate manager. The study recommended that, for the full potential of an estate manager to be realized, more exposure is needed during the training session, where they can be attached or posted to industrial firms. This will benefit both the student, as he/she tackles the everyday complexity of running an industrial firm, and also benefit the owners or managers of the industrial firms of the full training and potential of an estate manager.