GulfCap Real Estate begins sale of its Sh20 billion housing project
Real Estate
By
Patrick Beja
| May 11, 2023
GulfCap Real Estate has begun the sale of its Sh20 billion Starehe Point Affordable Housing Project which is the largest in the country.
On Monday, the developer started selling the over 6,000 apartments which were officially launched by President William Ruto in March.
The selling price for a one-bedroom unit starts from Sh1.98 million, a two-bedroom goes for Sh3.46 million while a three-bedroom unit is being sold at Sh4.12 million.
Over 1,200 people expressed interest to buy the units on the first day of the sale of the modern and affordable apartments. The project is among those that will help plug the housing deficit in the country. The government is targeting to construct 200,000 housing units annually to solve the affordable housing shortage.
Starehe Point which is strategically located is being done through a Joint Venture (JV) between GulfCap Real Estate and the national government through the State Department of Housing.
The project is a walking distance from the central business district (CBD) and other key social amenities including the new Starehe District Hospital, Pumwani Hospital, Business Bay Square- Eastleigh, Starehe Boys Centre, Pumwani Girls, Gikomba Market among others.
In addition to the 6,000 units being built at Starehe, GulfCap Real Estate is also developing the Sh6 billion award-winning Buxton Point affordable housing project in Mombasa which has 2,000 units of which 584 units are in the process of being handed over to the respective buyers.
"The pathway to housing should be fair and equitable for all citizens, this is the foundation that helps families support their communities and contribute to building the economy of our country. GulfCap Real Estate is committed to building sustainable communities anchored around lifestyle facilities for the lower- and middle-income citizens," said GulfCap Real Estate chief executive Chris Ochieng.