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Kenyan firms feted in continental property summit

REAL ESTATE
By Peter Muiruri | October 17th 2019
Karibu Homes Marketing Executive Kevin Ndungi (right) welcomes home buyers to the company's stand, during Home Expo at KICC in Nairobi on September 29, 2019 [David Njaaga,Standard]

Karibu Homes has been voted the Best Affordable Housing development in Africa at the just concluded Africa Property Investment Summit and Expo in Johannesburg, South Africa. This is the second time for the Kenyan firm to bag this award in three years.

The API award is the fourth prize the firm has won for its Riverview project in Athi River.

Other winners at the forum from Kenya included Tatu City Education Village (Crawford International School) for the Best Architectural Design while the Best High-end Residential Development went to Purple Haze, Nairobi.

The affordable housing award is given to a project that features amenities typically associated with high end developments such as 24-hour security, shops and sports facilities, but at prices that are affordable to a broader segment of the population in the given area.

The project’s founder and Managing Director Ravi Kohli said many homeowners at Riverview have a household income below Sh50,000 while the other half has an income below Sh100,000 “but share the dream of homeownership.”

“We believe everyone has the right to decent and affordable homes.  We are very pleased to receive this recognition of our efforts and will continue to strive to meet our goal In response to the news,” said Kohli.

A two-bedroom home in the estate starts from Sh3.56 million.

The company develops large scale affordable housing communities in an effort to broaden home ownership within Kenya.

It has been recognised by the London Stock Exchange as one of 360 Companies to Inspire Africa. It recently launched Amana Hills in Kiambu.

The API summit is Africa’s largest investment and real estate development forum.

The awards, now in their third year, recognise innovation and outstanding achievement across the entire property industry across 13 categories.

The categories include retail, office, mixed use developments, green buildings, hotel, alternative assets, leading architectural designs, logistics and best women in the property field.

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