× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Phase Four of Sh6 billion estate in Kajiado launched

By Nanjinia Wamuswa | February 19th 2015

Kenya; Inadequate and unfavourable terms of financing have slowed down acquisition of houses. This is according to Cathy Achola Warega, Chief Executive Officer of Urbanis Africa.

The Urbanis Africa CEO said there is an overwhelming demand for low-cost housing in Kenya, with all categories of buyers aged between 22 and 60. A demand, she said, they are working on meeting.

She said: “Urbanis Africa manages to construct descent low-cost housing because of the direct purchase from manufactures.” The average increase in demand yearly is 3,000 units.

Warega was speaking as the fourth phase of the Sh6 billion Kisaju View Park Estate kicked off with 120 low-cost housing units expected to be ready by end of this year.

Urbanis Africa says that this brings the entire construction to 55 per cent completion level. When complete, the estate will have 3,000 housing units, on 293 acres of land in Kisaju area of Kajiado County.

Warega revealed that six investors have shown interest in funding the housing estate. “

The investors have visited the project to consider it for future funding,” she said.

She added: “This tells you that the project is clearly feasible to a number of investors and on the right track. We expect more investors to come on board.” Warega said over 800 units have been built so far and more than 2,000 people are already residing in the estate. She said that Urbanis Africa is committed to constructing 120 units every 18 months.

The houses target low and middle-income earners and cater to different budgets in this segment of the market. A two-bedroom bungalow is going for Sh1.5 million, while a three bedroom bungalow is priced at Sh2 million and four bedroom at Sh2.5 million.

The other units include three bedroom bungalow with detached guest wing at Sh3.95 million, three bedroom en-suite bungalow and detached servant quarter for Sh3.65 million and four bedroom en-suite maisonette plus detached servant quarter for Sh5.95 million.

“Our target market is that person who feels phased out in Nairobi market, from low and middle income earners,” said Warega.

She said despite the high cost of building materials, Urbanis Africa keeps prices low through direct bulk buying from manufacturers. Phase five will commence next year for another 120 units


Share this story
Survey: Many prefer building own homes to buying
A majority of Kenyans aspiring to own a home say it will take them more than two years to realise their dream.
Dog walking becomes the newest hustle in town
Dog walking is now a status symbol. Owning a pet is cool. I nowadays meet lots of Kenyans and foreigners walking their dogs and some running.