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Qwetu invests Sh800m in furnished student hostels in Nairobi

NAIROBI, Kenya, Apr 18 – Real Estate firm Qwetu limited has invested Sh800 million in two storey building state of the art hostels.

The self-contained hostels located in Ruaraka and Joggoo Road have a combined 734 rooms.

The hostel is equipped with a fridge, a cooker, a bed, a microwave, a wardrobe and will cost Sh22,000 per month for students.

Furthermore, the rooms are Wifi enabled and have free shuttle services to pick and drop students to and from school.

“Living with Qwetu isn’t just about buildings, it’s about safe, secure homes where you can study and socialise in comfort. Qwetu is an inspirational place for students to live and work. We ensure that you have everything you need to feel safe, calm and at home than any other student accommodation out there, said Iain White, Sales and Marketing Consultant.

He says the model was borrowed from the United States, UK, South Africa and Australia.

The firm used debt financing from banks to build the hostels with plans to build about 40 more hostels in the country.

Security is secured with biometric access to the building and exclusive access to rooms with a keycard.

“We see a huge gap in the hostels’ sector; we are bringing this type of model in Nairobi to sort out the issues parents go through to find a suitable place for their children to study comfortably without fear,” White added.

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The buildings are also equipped with common social lounges with music, TV and games, open study rooms and roof terrace.

Moreover, the buildings also have a private on-site fully equipped Gym for its residents.

“So far, the uptake has been good with about 400 students already in our two premises, since we launched in 2017. Students are from 26 institutions and 20 nationalities,” White added.

The firm has been existence since 2015 funded by some private equity companies and local banks.

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