Assessment of performance of Real Estate Development in Kampala District : a case of Knight Frank

Abstract

This study assessed the performance of real estate development in the Kampala District, focusing on Knight Frank as the primary case study. The research addressed the challenges impacting Knight Frank’s operations, including high vacancy rates in office spaces, limited data management capabilities, and internal difficulties such as low employee retention and technological constraints. The purpose was to evaluate the factors influencing real estate development and identify strategies to enhance operational effectiveness and sustainability. Specifically, the study aimed to explore the internal and external challenges affecting the organization, alongside examining strategies and policies to improve real estate performance. Using a descriptive research design and quantitative methods, data was collected through questionnaires administered to 81 Knight Frank employees across various departments and 200 clients residing in properties managed by the firm. Stratified random sampling was employed, with a calculated sample size of 165 participants ensuring comprehensive representation. The data was statistically analysed using software such as SPSS, yielding insights into factors shaping the real estate market. The findings indicated that economic variables, regulatory frameworks, and stakeholder relationships were instrumental in influencing real estate performance. However, challenges such as bureaucratic delays, financial constraints, and fluctuating market conditions significantly impeded development efforts. The study concluded that Knight Frank could enhance performance through targeted strategies, including adopting sustainable practices, investing in technology for improved project management, and fostering stronger collaboration with stakeholders. Recommendations were made for improved stakeholder communication, expedited government processes, and digital advancements. Further research areas included the impact of emerging technologies on real estate development and the long-term effects of sustainability practices on the sector. This research contributes to an understanding of the performance dynamics in Kampala’s real estate industry, offering actionable insights for Knight Frank and broader market stakeholders.