Hope for aspiring homeowners with new affordable middle-income housing units from the Pan African Housing Fund

Westlands Place in Westlands [Courtesy]

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For most middle-income families, the dream of owning a house has remained just that, a dream. This has primarily been as a result of the high cost of home ownership more so in urban centres where land pressure has pushed up real estate prices.

As a result, most middle-income families and young professionals have stuck to rentals or sought to own homes further away from their places of work.

Though various initiatives have been put in place by both government and private investors to generate more affordable housing units, home ownership still remains out of the reach of many.

It is this category of home owners that Phatisa has set out to house through the Pan African Housing Fund (PAHF), a residential real estate private equity fund. Phatisa is a sector-specific African private equity fund manager located in and operating across sub-Saharan Africa. The firm currently has three funds under management, totalling more than US$ 400 million, focused on food and affordable housing. 

Phatisa is managing the Fund’s three projects in each of the counties of Nakuru, Kiambu and Nairobi targeted at two main categories of home owners; middle-income families and young professionals.

According to Joy Gichuru, an administrator at Phatisa, the projects include Nakuru Meadows, Westlands Place and Westpoint Heights.

“Traditionally it has not been easy to own property in the Kenyan market but as time goes on there have been more diversified products available in the market and Phatisa’s contribution to that space through the Pan African Housing Fund has been to reach out to the young professionals and middle-income families who have otherwise been left out in the past,” said Gichuru.

Under the young professional’s category, Westlands Place is a premier apartment complex comprising of mainly one bedroom apartments, two penthouses and the studio option now fully sold. The facility is located at the heart of Nairobi’s Westlands area enabling easy access to the Central Business District, Westlands, Upperhill and Gigiri where young professionals work.  According to Wycliffe Ogongo from Phatisa, proximity is a key consideration for young professionals.

“Westlands Place is centrally located and this makes our product very convenient to people,” he said.

Westpoint Heights in Thogoto, Kikuyu [Courtesy]

“The property also includes key amenities for young professionals including controlled access, 24-hour reception, rooftop areas where there is a gym and laundry, backup generator, and high-speed lifts.”

Also included in the list of amenities are the finishing mahogany parquet floors, panelled entrance doors, ceramic tiles in wet areas and kitchen MDF cabinets and granite worktops.

The middle-income family category comprises Westpoint Heights and Nakuru Meadows located in Kiambu and Nakuru counties, respectively.

Located in Kikuyu’s Thogoto area, Westpoint Heights is a residential estate hosting two-bedroom units ideal for young families. The two-bedroom – master en suite apartments have soaring ceilings and large windows to create a bright ambiance.

The kitchens have large countertops and multiple cabinets for storage needs with utility area extending from the kitchen that is perfectly suited for your laundry related needs. Phatisa has given due consideration to the needs of young families including access to key social amenities such as schools, hospitals and ease of travel to and from work.

“The key advantage to the project is the close proximity to the Southern Bypass giving residents easy access to Karen, Wilson Airport and Westlands,” says Dorothy Suleh from Phatisa.  

Nakuru Meadows in Nakuru County [Courtesy]

The project whose units are priced at Sh. 6.9 million has recreational areas for children and paved walkways and driveways enabling activities such as biking and roller-skating within the confines of the property.

On the other hand, Nakuru Meadows which is the first of its kind real green residential community in the county hosts maisonettes and townhouses.  It is located long the Nairobi – Nakuru highway next to CITAM Church just a five-minute drive from Nakuru town. It is a centre piece of gated community with safe playing grounds for children. The first phase comprising townhouses is ready for occupation.

“We also sought to solve some of the challenges that face residents of Nakuru including access to water by providing borehole water and installed a reverse osmosis water treatment plant to cater for the health of residence and ensure the water is drinkable from the tap.” Nancy Makinda from Nakuru Meadows says.

The property features detached four bedroomed townhouses, which are all en suite with a detached DSQs and a second option of a three bedroomed all en suite townhouses with DSQs.  Both townhouse options are however sold out. ?

The community also hosts 70 units of detached and semidetached maisonettes with DSQs to cater for privacy needs of families. Unit prices start at Sh9.5 million with a possible rental offer at Sh38, 500.