Sameer Africa PLC has unveiled its new business strategy that focuses on creation of purpose-built industrial warehouses.
It has broken ground for a Sh260 million purpose-built warehouse expected to be operational by mid-2024.
In a statement, the firm says the move is in line with their new vision to craft facilities that align with the distinct needs of their tenants, and fulfil the escalating demand for customised warehousing services.
"The revitalisation of the company's property business highlights a new strategy for Sameer, a company that is renowned in the tyre industry," it says.
Initially incorporated in Kenya in 1969 as Firestone East Africa Limited, it specialises in the importation and sale of tyres and allied products, alongside investment in property leasing.
It operates primarily in Kenya, but extends its tyre operations to Tanzania, Uganda and Burundi.
The firm embarked on its foray into industrial warehousing in January 2021, following the approval of a four-year Strategic Plan by the board of directors.
The warehouse will offer a 10 MVA installed electrical power supported by 66kV transmission lines, high-speed and reliable fibre connectivity, ample utility water sourced from dedicated boreholes with backup storage.
Sameer Africa managing director John Mugo said the tailor-made nature of the project seeks to align with their tenants' needs which include size, layout, features and functionality.
The firm's chairman Erastus Mwongera sad they would invest in industrial property development through Greenfield projects and enhancing existing properties.
"Our strategic growth blueprint underscores the revitalisation of our property business, which has consistently proven to be a robust source of income and growth for the Group," said Mwongera.
