Centum Real Estate Limited has announced the appointed Kenneth Mbae as its new Managing Director.
Making the announcement, Centum Investment Company PLC Chief Executive Officer, Dr James Mworia, Mbae has a great record of steering the biggest unit of our real estate business and he is uniquely well suited to take over this new role.
Mbae takes over the role from Samuel Kariuki, who has resigned to pursue other interests. Kariuki will be leaving the organization in June 2022.
As the outgoing Managing Director, he will remain available to work with Mbae and Centum Re’s executive team to ensure smooth transition and business continuity.
Mbae is a Harvard University GSD Alumni (AMDP XVIII), holds a BSC Biochemistry from Kenyatta University and an Advanced Management Certificate in Business Management from the Kenya Institute of Management and is a member of Project Management Institute and Institute of Directors (Kenya). He is also an RBA certified Trustee. Mbae was a finalist in the 2021 Top 40 under Forty Men annual awards.
He joined Centum Investment Company Plc in 2010 as an intern in the real estate team and has grown to his current position. In addition to his work at Vipingo Development, he has been involved in the delivery of various other projects including development of residential housing at Pearl Marina in Entebbe (Uganda), establishing the estate and mall management business within Two Rivers Development, and has served as acting Deputy Managing Director of Athena Properties Limited.
Mbae served as the Chief Operating Officer of Centum Re prior to this appointment, overseeing operations in Kenya and Uganda. He was the founding Managing Director of Vipingo Development, the largest Centum Re subsidiary, which he led from set up and transformed to a business valued at over KES 20 billion with over KES 9B in sales and KES 5.3B in cash collections.
In his acceptance speech, Mbae pledged to continue to build on the brand of Centum Re in delivering quality, value for money, timely handover of projects and value to shareholders and investors
“I am excited at the opportunity to lead the team at Centum Re. The company is East Africa’s leading developer of mixed-use urban nodes in the region, with a growing portfolio of large mixed-use developments in Nairobi, Kilifi and Entebbe,” said Mbae.