NHC to construct 500,000 new housing units

National Housing Corporation chairman Francis Gitau (left) being briefed on the new housing projects which have been completed in Kibera, Langata and Athi River as part of the corporation's target of 500,000 housing units in five years. Also present was NHC Managing Director Andrew Saisi.

The National Housing Corporation (NHC) has rolled out an ambitious housing project targeting to construct over 500, 000 new housing units spread across the country.

The first phase of the project was unveiled yesterday in Nairobi and Machakos Counties where the corporation has just completed 222 new housing units.

The units are part of the corporations’ strategic plan of delivering decent and affordable housing.

Speaking during a tour of the housing project, NHC Chairman Architect Francis Gitau Mungai said the Corporation is committed in the creation of 500,000 new home owners through the facilitation of affordable housing to Kenyans.

“The Corporation appreciates that it cannot achieve this on its own and welcomes partnerships that can help achieve these numbers” he said.

 He noted that the Corporation has concluded revaluation of its assets and is now embarking on getting more projects on the ground across the country. We have projects set to commence in Mombasa, Kericho, Nyeri, Kakamega, Samburu, Siaya, Machakos, Uasin Gishu & Nairobi counties among others.

“The Corporation has further enhanced its lending to Kenyans who wish to build houses in the rural and peri-urban areas. We have increased the applicable loan from Kshs. 3 Million to 5 Million. We are now accommodating those who wish to put up multiple dwellings with loans of up to 10 Million. This is at an interest rate of 13% over 10 years. We encourage Kenyans, majority of who have pieces of land to take advantage of this facility”.

The ambitious projects are part of the Corporation’s ongoing projects which range from outright sale to tenant purchase and rentals.