PROPERTY DEVELOPER UNVEILS WAREHOUSES AND STORAGE FACILITY TO EASE MANUFACTURERS AND BUSINESSES INVENTORY HEADACHES
By Griffin Michael ,
Businesses and manufacturers across East Africa are set to benefit from various warehouses and dry storage to be unveiled regionally by Myspace Properties Limited, in what economists termed as a sharing economy. The model dubbed ‘space share’ will ease manufacturers’ logistics headaches since they don’t need to own warehouses and storage and therefore not incur the cost of building and even renting the entire space that they are not using. Businesses will only be required to pay for the space they are using as they share the other space with others or in the warehouses. This will enhance the traditional warehouse market, from temporary trailers to Airbnb-style matchmakers that provide warehouse space and logistics together.
Space Share is expected to revive the distribution model that has collapsed countrywide and revamp supply chain networks to embrace e-commerce expectations. Myspace’s new strategy to ease the cost of storage for manufacturers indicates a growing shift by companies in a bid to slice the cost of doing business in these challenging economic times.
According to Myspace Properties CEO, Mr. Mwenda Thuranira, the country has a cute shortage of warehouses and dry storage where manufacturers can store their goods as they wait for customers to buy. This has contributed to low manufacturing due to fear of goods going bad.
“This invention is demand-driven. We are responding to the market needs. Manufacturers have been asking us if we can have this model in Kenya. We are happy that finally, we have been able to come up with a product that suits their needs. It is being practiced in developed countries and we believe it will be a success here too, “added Thuranira
According to Kenya’s famous singer and businesswoman Esther Akoth A.K.A. Akothee Myspace Properties has developed a strong, effective warehousing infrastructure so they can handle more loads and regular shipments while offering a wide range of third-party logistics services, such as dry storage.
‘‘For a very long time, we have had issues while looking for storage facilities to safely keep our wares and supplies for either short or long term but has proved to be a very big challenge. We are happy that we finally found a partner who has been able to offer reserve services and the fore helping us to solve various inventory headaches. This will for sure allow us to concentrate on our main business and objectives as we leave the business and headaches of storage logistics to my space properties. This is an idea whose time has come and it will greatly benefit businesses and manufacturers as it will reduce costs and save them from inventor’s headaches,”Akoth said.
With dry storage and warehouses, businesses can store their merchandise in strategic locations where supplies can be made proportional to the market demand. The warehouses will also act as distribution centers and hence enhancing service delivery and customer satisfaction.
By providing enough space to store products closer to the consumers, space share will reduce trips made by manufacturers daily from Nairobi, Mombasa, Thika, Nakuru, and other industrial areas to make deliveries in the rural areas,” said the real estate mogul.
As retailers and logistics companies try to stockpile goods to hedge against supply chain problems, they are facing a new challenge: in many parts of Kenya, there is little to no space available to stash the merchandise. The shortage of commercial warehouses and industrial space is the latest fallout from pandemic-fueled growth in online shopping and shows few signs of abating. But the squeeze is spurring new thinking about how to manage storage, handle distribution and set up new delivery systems for everything from food to beauty supplies.
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MYSPACE PROPERTIES LIMITED
Myspace Properties Limited is a Real Estate and Property firm that offers a unique and unprecedented value proposition covering all the core skills and requirements fundamental to the success of a real estate venture. It is also among the firms incubated in Nairobi Securities Exchange (NSE) Ibuka program. Myspace first appeared in the KPMG Top 100 rankings in 2018 and then 2019 became the top Real Estate firm in the list. Myspace appreciates the industry players for acknowledging our objectives and efforts in growing and becoming influencers within the Real Estate Industry.