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The project consists of 331-quarter acre serviced plots which will be retailing at Sh6.95 million per plot and with flexible payment plans and ready individual title deeds/FILE

Kenya

NHC to develop 10,000 housing units

The National Housing Corporation Chief Executive Officer Wachira Njuguna told Capital FM Business that the houses will be up for sale from July this year/FILE

The National Housing Corporation Chief Executive Officer Wachira Njuguna told Capital FM Business that the houses will be up for sale from July this year/FILE

NAIROBI, Kenya, May 15 – The National Housing Corporation has announced a roll-out of a 10,000 housing units throughout the country.

The National Housing Corporation Chief Executive Officer Wachira Njuguna told Capital FM Business that the houses will be up for sale from July this year.

“It’s very important that all Kenyans get their deposits in place so that they can be able to buy and have a house in a year,” Wachira said.

Wachira said that this is in line with the Jubilee government’s plan in creating affordable and decent housing in the country pointing out that the houses will be 20 percent cheaper than what is on the market.

“The houses in the neighbourhood that will be sold at Sh7 million, we will sell them at Sh5 million.

Among our products include 1 to 4 bedroom units, the smallest bedroom unit ( one bedroom) will be retailing at Sh2.5 million, people will pay them in a period of 18 years after having paid a 20 percent deposit,” he explained.

Wachira also revealed that the corporation is partnering with willing land owners to develop and sell their land to their customers making profit for the land owner.

“Land owners can partner with us, where we get the monitory value of their land and invest in the land, there after selling it to our huge customer base making profit for the owner,” he explained.

Interested land owners should apply attaching a proposal with feasibility study and the title deed, deposit Sh200,000 and get in talks with the corporation.

NHC recently held a conference for contractors who will bid for tenders to build the houses.

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The contractors will build the houses in a design-finance-build-and-operate transfer which will see them provide management of the houses in garbage collection and security.

The first units will begin in August and they will be completed in a year’s time.

The Jubilee government is keen in developing affordable and decent housing and has promised to develop 280,000 units a year throughout the country.

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