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Optiven real estate firm to invest Sh 700 million on affordable housing in Kenya

By Biko Rading | January 17th 2019 at 06:43:35 GMT +0300

Government’s bid to provide affordable housing has received a boost after a local-based real estate company expressed interest in investing in the program.

Optiven Group has set aside millions to partner with the government in providing affordable housing.

The company has pumped an extra Sh 700 million into its consistently expanding portfolio that includes projects in five major counties namely, Kiambu, Machokos, Kajiado, Nyeri and Uasin Gishu.

Recently the company awarded title deeds to over 200 clients who have purchased various Optiven Real Estate plots, in addition to over 5000 titles that the company has so far delivered to its clients countrywide.

Optiven Group Chief Executive Officer George Wachiuri said: “Under the Affordable housing pillar the government intends to deliver 1 million affordable homes in the next five years, out of which 800,000 units are supposed to bedsitters, one, two- and three- bedroom, costing between Sh800,000 and Sh3 million.”

“As Optiven, under our various projects, we are offering a very good deal for Kenyans where our clients are not only provided with super value added land but also with a housing plan. We also walk with you on your journey towards the construction of your house, in a very affordable manner,” he added.

Mr Wachiuri said that in order for the government to deliver affordable homes to Kenyans, they must create a win-win situation through Public Private Partnership (PPP) where private developers can use their financial muscles to develop affordable housing to Kenyans.

The government is also exploring the establishment of a land bank, already a taskforce has been formed to set aside land from excess land holdings by corporations and parastatals.

The government has set aside Sh460.2 billion last financial years to finance its Big Four agenda, under which housing is a pillar.

Affordable housing is one of the government’s Big Four Agenda that seeks to bridge the housing deficit that currently stands at 2 million.

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