Support investors in housing industry, Government urged

By Maseme Machuka

The Government has been asked to support investors in the housing and property industry to make Vision 2030 a reality.

Erdermann Properties Ltd and the China Wu Yi Company managers, who have partnered with the Government to put up low-cost housing in Mlolongo area, said the housing deficit can be scaled-down by 2015.

Erdermann Managing Director Zeyun Yang said the company targets to reduce the deficit by building more than 150,000 decent houses for Kenyans. "This will give Kenyans the surest way of owing a home. The property is secure with stone perimeter wall and a shopping mall," added Yang.

The 528 units, dubbed Great Wall Apartments, are fully serviced two-bedroom apartments.

Job creation

They are located along Beijing Road in Mlolongo township.

Gender Minister Wavinya Ndeti, who is also the area MP, said the Chinese-Kenya partnership has also helped create jobs.

Kenyans interested in the property can access it through available financial arrangements from the Development Bank of Kenya.

The minimum financial requirement is 10 per cent deposit of Sh300,000 and a monthly instalment of Sh32,600 to service the Sh2,700,000 mortgage by Development Bank of Kenya.

China Development Bank Commissioner Fan Jinsong said foreign companies investing in the country should focus on Kenyans’ welfare. "The completion of this project is a goal that we have made to support Kenya’s economic development."