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Thursday, July 18, 2024

UK firm buys stake in Kenya’s quantity surveying firm YMR

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A UK-based global construction and consultancy firm Mace, has acquired a major stake of East African quantity surveying company YMR.

Mace’s chief operating officer for consultancy Jason Millett  says the move is aimed at strengthening  the firm’s market position and provide an augmented offer to clients.

The acquisition of YMR which comes barely a year after the acquisition of a stake in MMQS, a South African quantity surveying firm in 2016, depicts the willingness of Mace to expand its presence in Africa that has witnessed major economic growth in recent years.

The new business will be called “MaceYMR”, offering project management and quantity surveying.

“We have seen increased demand for construction consultancy services in East Africa as a result of major construction activities in the region,” says Mr Millett.

According to Millet, Kenyan construction industry alone is forecast to grow by 8.5% in 2017 and at 6.2% annually to 2026, outperforming other regions in Africa.

YMR has a number of projects under its belt ranging from malls to offices to residential projects.

They include Two Rivers, Garden City and the Hub Karen in Nairobi, Kenya. The quantity surveyor is also behind Tatu City, a 5000 acre mixed use residential, retail and commercial development site in Kenyan capital Nairobi.

Elsewhere in the region, YMR has been involved in the World Bank Office in Juba, South Sudan, the new Kigali City Tower, Rwanda, and Acacia Plaza in Kampala.

Kenya’s construction industry and promising economic outlook continue to attract international players seeking to have a stake in the industry.

Mid this years, Bechtel, a global leader in engineering, procurement, and construction announced the opening of a regional Africa office in Kenya saying the office presents an “opportunity to focus on building stronger relationships with our customers and their communities.”

In 2016, Turner & Townsend, another global construction and management firm, opened an office in Nairobi in what it says was part of their expansion plans aimed at growing the business globally.

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