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Real Estate Investment Trusts are regulated Collective Investment Schemes where their managers source funds to build or acquire real estate assets, which they sell or rent to generate income /FILE

Kenya

Shelter Afrique to boost capacity for large scale developments in Kenya

The courses are scheduled for April 24 and 25 which will also help deepen the capacity of project management and execution of similar projects in readiness for the government’s Big Four Agenda on affordable housing/FILE

NAIROBI, KENYA, Apr 8 – Pan African housing development financier, Shelter Afrique will conduct a two-day course aimed at training contractors and developers on the full execution of Public-Private Partnership (PP) projects.

This will help boost and support the government’s agenda to create affordable housing in different parts of the country.

The courses are scheduled for April 24 and 25 which will also help deepen the capacity of project management and execution of similar projects in readiness for the government’s Big Four Agenda on affordable housing.

Shelter Afrique Managing Director and CEO Andrew Chimphondah said the courses seek to walk contractors and developers through the PPP process from inception, project implementation and handover to equip them with necessary skills to handle such projects.

“We are happy that the response from contractors and developers has been positive. There is a visible lack of capacity on the continent for large scale development. Usually, large Public-Private Partnerships are done through a consortium of developers which leads to problems of quality control, design dissimilarities and responsibility,” he said.

Chimphondah said Shelter Afrique was committed to improving and strengthening the environment for private sector participation in Africa which is a key plank in the organisation’s 2019-2023 Strategic Plan.

“Shelter Afrique is confident that through the PPP modality, the private sector will offer a dynamic and efficient way to deliver and manage public infrastructure,” Chimphondah said.

The masterclass will build on a similar one the company successfully held for constructors and developers in Cameroon and will be focusing more on the needs already identified in the market.

In its Big 4 Agenda, the current government highlighted provision of affordable housing as one of its key priority areas, for which it expects to deliver 500,000 housing units in five years.

With the affordable housing plan, a bedsitter will cost a maximum of Sh800,000 to purchase and Sh1 million for a two-bedroom while a three-bedroom unit will cost Sh2 million.

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Already, the first lot was cleared last year in Park Road with 1,640 units, Makongeni with 20,000 units, Shauri Moyo with 5,300 units, Mavoko 5,500 units, Social Housing at 15,000 units and Nairobi County at 67,800 unit.

The government is continuously inviting developers to place bids for the affordable housing project.

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