State offers purchase guarantees to developers of low-cost housing units

A section of Chosen Green City estate that is built by Gakuyo real estate in Kenol-Kabati. [Photo by Kamau Maichuhie/Standard]

Private companies that will partner with the Government to build half-a-million houses will be allowed to sell the houses to the Government if they do not get buyers, a principal secretary has said.

The deal is in the form of a put option to sell the houses back to the Government after five years, Housing and Urban Development PS Charles Hinga said.