NAIROBI, Kenya, Sept 29 – Housing Finance Group has completed the first phase of a residential development in Komarock, Nairobi at a cost of Sh7.5 billion.
The 480 apartment estate, comprising of two and three bedrooms, is HF Group’s largest real estate project since the development of Buru Buru Estate in the 1970’s, developed by the Group’s subsidiary, Housing Finance Development and Investment.
HFDI Executive Director James Karanja says Komarock Heights is ready for occupation with the two bedroom units selling at Sh6.1 million while the three bedroom houses cost Sh7.1 million for cash buyers.
“This project featuring 144 two-Bedroomed units; 336 three-Bedroomed units, is one of a kind in Eastlands, with passenger lifts in each apartment block, children’s play area, ample parking, excellent finishes, borehole water and provision for solar water heating,” says Karanja.
Komarock Heights phase 1 is part of 1,272 housing units the company is developing in Komarock estate.
For those purchasing through a Tenant purchase or mortgage scheme, a two-bedroom unit costs Sh6.6 Million and Sh7.6 million for a two and three-bed apartment respectively.
Majority of the current and upcoming projects undertaken by HFDI are under joint venture partnerships with select land owners. However, Komarock Heights is fully owned by HF group.
“Customer feedback is taken into consideration during the project planning and design stages, to ensure that as we strive to bridge the current housing shortfall, customer interests are taken into account,” he adds.
Other properties HFDI has developed include Buru Buru, Komarock Phases 1 to 4, Ngei and Woodley estates in the past, and more recently Kahawa Downs, Precious Gardens, Richland Pointe, Komarock Phases 5A &B, Komarock Heights and Clay City.