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Propertyzote to seek private investors

Propertyzote.com has announced that it intends to offload  part of its stake to private investors. This has come as a result of significant interest by both public and private investors. Several investors have shown expression of interest to invest in propertyzote- the largest online real estate in East Africa.

Propertyzote.com founder Kaptich says that... "..now is the best time to invest in dotcom industry, particularly after the launch of sea cable broadband network in Mombasa last year ". "The new broadband network is set to boost online use for ecommerce and attract investors....he adds that, propetyzote.com and its subsidiaries are a very viable industry likely to provide good return of investments."

Propertyzote.com has also announced changes to its online property listing. The changes will mainly affect new agents who haven't signed up with the website. Other announcement also includes the much anticipated opportunity for investors.

Previously, new real estate agents who signed up were given a 4 month period to advertise property for free. Unfortunately this will come to an end around January 2011. From January 2011 new agents who sign up will now be required to pay a monthly fee to be eligible members. Membership will then allow Estate agents to list property. Membership will cost around from $20.00 (ksh1,400) a month to $50.00 (Ksh 3,500) a month.

The website offers a huge potential since it incorporates the internet by amalgamating EAC using one platform. Its online growth and viability is largely credited to EAC's population. East Africa is a solid economic block with over 120million combined population. It is estimated that 10% of East Africans-12million, actively use internet. The EAC strategy emphasizes economic co-operation and development with a strong focus on social dimension. 

However, Kaptich cautions investors that although propertyzote.com is rapidly expanding, up 19 percent to 22,800 in the first half, dotcom industries in Africa will still struggle to translate such growth into a healthy profit. Revenue of dotcom businesses in Africa is still slim compared to print media or radio which dominates the market.

About propertyzote.com
It's the fastest growing real estate/business website in east Africa. The website went online 3 years ago and it receives an average of 300,000 hits a month, 10,000 unique monthly visitors. It has a database of over 460 estate agents and over 1220 listed properties valued at over $500million. It services agents in Kenya, Uganda, Tanzania, Rwanda & Burundi. It has a subsidiary jobs website - careerzote.com.

To send Expression of interest or for more information;

Contact
Louis Kaptich
Public relations Manager
Email: sales@propertyzote.com
Ph 0011 -254 -722573885

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