Kenya Affordable Housing Progress

[Kevin85ify]

Construction

The new housing units built by GOK along park road ,ngara area, kiambu county,machakos county, kisumu county are ready for occupation. Park road project having 1800 units while the Ngara project has 1400 units. All units in these areas will be allocated by the end of the year.

Private developers in the housing programme have also finished some of their units with Unity homes in Tatu city handing over units worth Kes 4.5 billion to their new owners.

Ngara riverside estate is also coming up quite well with the first units expected to be handed over by mid next year.

President uhuru visiting the ark road housing units.

Ngara housing units​

Financing
Kenyan banks have allocated Kes 300 billion for the affordable housing projects.

GOK in combination with the World bank, Kenyan banks, saccos and microfinance institutions have formed the Kenya Mortgage Refinancing Company (KMRC). A financial institution that will offer cheap loans to buyers of affordable housing units with maximum amount capped at Kes 5 million for Nairobi and 4 million for the rest of the counties.

KMRC is 25% owned by GOK, 20% by the World bank through IFC and the rest is held by Kenyan banks, saccos,microfinance institutions, Pension funds and private kenyan investment companies like cyton and centum.

The world bank through IFC , has pumped into KMRC a total of Kes 45 billion.

More money to the tune of Kes 127 billion is being pumped by the UK into the programme with multiple projects by british companies under construction and more than 10 lined up.

In order to deliver on the promise of 500,000 affordable houses by 2022, GOK will need to marshall about Kes 1.2 trillion in investments already Kes 409 billion in investments are underway but that is not even half of what is needed.

 

[luangalila]

Hivi ni vitu vya kupewa kipaumbele sana well done on that Kenya

 

[luangalila]

Hivi ni vitu vya kupewa kipaumbele sana well done on that Kenya.

 

[Lewis254]

Hivi ni vitu vya kupewa kipaumbele sana well done on that kenya

Mkuu,, haya ni mambo mazuri na tena matamu yanayopatikana kwenye nchi zilizoendelea na zilizostawi.

 

[luangalila]

Mkuu,, haya ni mambo mazuri na tena matamu yanayopatikana kwenye nchi zilizoendelea na zilizostawi.

Ni commitment tu na focus ya izo project, sio kwamba Tz hazipo, lahasha zipo ila gharama zake ni juu mnoo hopee hata huko gharama zake zipo juu

 

[Kevin85ify]

Ni commitment tu na focus ya izo project, sio kwamba Tz hazipo, lahasha zipo ila gharama zake ni juu mnoo hopee hata huko gharama zake zipo juu

The houses are built for people earning between Kes 40,000 to Kes 150,000. The price is from Kes 1.5 million for a one bedroom to 3.4 million for a three bedroom house.

There are two options
i) Deposit 12% of total amount and take a 28 years mortgage from KMRC
ii) Deposit 12% of total amount and enter a tenant purchase agreement.

For Kenya this is cheap, a three bedroom house will normally go for between Kes 5 million to 15 million depending on location.

GOK, UN, UK and Kenyan banks have already commited about kes 409 billion, but Kes 1.2 trillion is required to deliver all 500,000 houses all across the country.

This is part of vision 2030 document and fulfillment of our bill of rights in our constitution. The next president will also continue with this agenda and pick others from the document which he/she can implement.

All materials are made in Kenya, roofing, steel, cement,windows, doors, kitchen fittings, cabro paving etc.

 

[MK254]

The houses are built for people earning between Kes 40,000 to Kes 150,000. The price is from Kes 1.5 million for a one bedroom to 3.4 million for a three bedroom house.

There are two options
i) Deposit 12% of total amount and take a 28 years mortgage from KMRC
ii) Deposit 12% of total amount and enter a tenant purchase agreement.

For Kenya this is cheap, a three bedroom house will normally go for between Kes 5 million to 15 million depending on location.

GOK, UN, UK and Kenyan banks have already commited about kes 409 billion, but Kes 1.2 trillion is required to deliver all 500,000 houses all across the country.

This is part of vision 2030 document and fulfillment of our bill of rights in our constitution. The next president will also continue with this agenda and pick others from the document which he/she can implement.

All materials are made in Kenya, roofing, steel, cement,windows, doors, kitchen fittings, cabro paving etc.

The fact that it's embedded in vision 2030 , makes it fail-safe during intricacies caused by regime changes.

 

[Kevin85ify]

The fact that it's embedded in vision 2030 , makes it fail-safe during intricacies caused by regime changes.

Very true. This year after Kenya made affordable housing a development agenda, I heard ghana too copying and putting affordable houses as a top priority in their next election cycle.
What most african countries do not know is that this is not a haphazard decision but one codified in our development document from over a decade ago.What politicians pick and choose is what they think will resonate most with people at that point in time.