NAIROBI, Kenya, Nov 4 — Real estate firm Jabavu Village Limited (JVL) has refuted claims of delays in the construction of Ngara’s Jevanjee Housing Estate, asserting that the affordable housing project remains on track and financed through legally approved channels.
JVL Managing Director Abdulkadir A. Hussein emphasized that the project, now at 50 percent completion, is set to deliver affordable housing units by September 2025 and market units by September 2026.
“Construction is still on course despite initial delays related to land acquisition, COVID-19 disruptions, and rising steel costs due to the Ukraine war,” he clarified.
The development will include two towers of 400 units each, rising 14 stories. Hussein reported that Towers 3 and 4 have been fully structured, with Tower 3’s roofing nearing completion, while Towers 1 and 2 have reached the ninth floor.
JVL addressed concerns regarding project financing, clarifying that the Jevanjee land—originally held by Nairobi City Council—was legally transferred to a Special Purpose Vehicle (SPV), Nairobi Bachelors Jevanjee Estate Ltd, in 2019.
Jabavu Village Ltd holds an 80 percent stake in the SPV due to its investment in the project, while Nairobi County Government holds 20 percent.
To finance the project, JVL obtained a Sh1.9 billion bank facility and has so far drawn Sh450 million based on work completed, backed by contractor certifications.
