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It’s now easier for low-income earners to own homes

FINANCIAL STANDARD
By | May 19th 2009

By James Anyanzwa

Housing Finance has unveiled a Sh1 million home ownership facility under the 'Makao' initiative.

The move is part of the company’s efforts to offer standard house types to low and middle-income people living in both urban and peri-urban areas.

The 'Makao' concept was pioneered barely two years mainly to deal with the inefficiencies and resource constraints that have barred tenants from owning houses.

Statistics show over 77 per cent of the population in urban areas dwell in rental premises.

'Makao', which allows 20 per cent savings on the normal cost of construction, offers a convenient building solution for those who own pieces of land and wish to build their own homes.

Moses Wekesa, the company’s Property Supply director, says the programme helps bring together a team of building professionals who will supervise your construction from start to finish.

"We will deliver your complete house within the agreed time frame (9-11 months), within a fixed cost, and to the highest quality," says Wekesa.

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housing design

Makao offers clients a wide basket of 17 prototype houses with values ranging from as low as Sh1 million to Sh15 million to choose from. These range from a two-bedroom bungalow to a five-bedroom maisonette. Clients could also formulate their own housing designs for execution.

"Customers can also come up with their own designs for implementation," says Wekesa.

Some of the house types include Kilimanjaro, Serengeti, Amboseli ,and Kalahari whose designs are trendy and suitable for the Kenyan market.

HF has brought together a consortium of professionals in the construction industry - Architects, Project Managers, Quantity Surveyors, and Structural engineers, Legal Advisors, Services Engineers and Contractors - who will work together to ensure the complete delivery of the preferred homes.

"Makao is a one stop solution for people who aspire to own property without the hassles of construction. Sign up the type of house you prefer with HF and have the house delivered to you on your plot, complete with keys and a house manual, after a pre determined period," says Wekesa.

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