Mombasa-based real-estate firm MySpace Properties has announced the relocation of its headquarters from the coastal city to Nairobi, citing a need to move to closer to potential investors after it was inducted on the Nairobi Securities Exchange’s (NSE) Ibuka incubation programme in April 2019.
MySpace CEO Mwenda Thuranira said the company’s relocation would improve its market positioning.
“We are interested in helping the government achieve its Big Four agenda, especially in housing, even though most real estate firms are shying away from building the low-cost housing that are affordable to the masses because of the costs associated and the low returns that they attract,” he said.
“The few available houses are too expensive for most citizens. We want to help reduce that gap.”
Sixty percent of the firm’s top management will move to the capital city.