- The housing units were developed in partnership with Karibu Homes Parktel to make affordable housing more accessible
- The pan-African housing financier intends to replicate the model of delivery in other projects of similar nature
Shelter Afrique the Pan-African Housing Financier dealing exclusively with the promotion of affordable housing in partnership with Karibu Homes Parktel, has completed and officially launched the second phase of the housing project at Riverview Estate, in Athi River.
The 288 units developed by Karibu Homes in the second phase of the project, was funded by Shelter Afrique at a cost of KSh 355 million. This brings the total number of affordable housing units developed by Karibu Homes and funded by Shelter Afrique to 569 at a total cost of KSh 667 million.
Speaking at the hand-over ceremony, Shelter Afrique Chairman Daniel Nghidinua said the project was initiated to address acute housing shortage in the housing market.
“Housing shortage in Kenya is estimated between 150,000 and 200,000 units in urban areas and more than 300,000 units in rural areas yearly, government has responded to this reality with the Big Four Agenda and we as a key player have responded with a new strategy anchored on the delivery of large-scale housing,” Mr. Nghidinua said.
“With Karibu Homes, we are working with a trusted partner, our partnership has demonstrated the capacity available for delivery of affordable homes in Kenya. We have financed the development the 569 affordable units which have been delivered in the two Phases. We are eager to replicate the model of delivery elsewhere,” Mr. Nghidinua noted.
The prices range from KSh1.7m to KSh6.9 for different units.
Mr. Nghidinua said Shelter Afrique will continue to expand low cost housing projects to increase access to low-income populations.
Affordable housing is one of the key pillars of President Kenyatta’s government. The other pillars under the Big Four Agenda are manufacturing, Universal healthcare and food security-all aimed at boosting Kenya’s development, creating wealth and employment.