In the year 2011, an American real estate firm hit the headlines of the Kenyan news after unveiling their interest of capitalizing in the provision of dual citizenship and getting Kenyan investors to invest in properties based in America. This was after the new constitution allowed one to become a citizen of another country without forfeiting that of Kenyan citizenship. The company was certain that the number of Kenyans seeking to live and work in the United States would increase, creating an opportunity in the acquisition of homes and real estate related properties.
Realty Capital Inc’s target was to support the individuals and companies that were ready to diversify their investment portfolio in the real estate industry or even related industries. Ken Malmborg, a director of Realty Capital, was keen to note even though the core business of the company was real estate properties, they were ready to partner with other investors from any industry that are related to the real estate sector, just like green energy.
The director then flew to the country for business talks with ready investors and also to be part of the home and property expo that was taking place in the course of the duration he was in the country.
The interest by Malmborg faced a lot of concerns as the process of owning property in the US was known to be tedious for non-Americans and also high taxation rates. The Directors responded to these concerns by assuring investors that the challenges in the country are not only faced by the non-Americans. “They are the same things that Americans are struggling with..it is not any different for them. What we are doing is approaching it as a business and there is a big opportunity in the depressed property market in America. The returns are also good and would interest any investors, large or small,”
Ken Malmborg also noted that most of the Kenyans in the Diaspora have always had the interest to invest in properties back in their motherland. Some of these people send money to their relatives for them to build or invest in a property for them. The number of Kenyans living their dream of investing in Kenya would increase if there was a way to get information to them on the investment opportunities back in home, a need he was willing to satisfy.
However, Malmmorg said his company was interested in people who would relocate to the United States as its main clients but then would lockout on those that were willing to diversify their investments.
Finally, the company noted it was willing to work with the Chinese and Philippines as among those who were willing to invest in the US property. Chinese were one of the company’s interests after showing enthusiasm in their green energy solutions.