Hous­ing Fi­nance plans to put up Sh5 bil­lion apart­ments for mid­dle class at Thika Road

The Star (Kenya) - - News Business - real es­tate

The Hous­ing Fi­nance Group has em­barked on a Sh5 bil­lion project to put up 1,520 apart­ments at Thika Su­per­high­way in a bid to ramp up its de­vel­op­ment port­fo­lio. The apart­ments will be built at the for­mer Clay Works in a joint ven­ture with Clay Works Lim­ited which owns the land. The project will sit on 24.5 acres and will be built in three phases. “The first phase will see the con­struc­tion of 560 units, the sec­ond phase 480 units and the third phase will also see the de­vel­op­ment of 480 units,” the group’s sub­sidiary- Hous­ing Fi­nance De­vel­op­ment and In­vest­ment ex­ec­u­tive di­rec­tor James Karanja said. The two bed­room units will sell at Sh6.5 mil­lion up­wards, while the three bed­room unit’s ask­ing price will be Sh7.5 mil­lion, it said. Phase one is ex­pected to be com­plete by the end of 2019, tar­get­ing the mid­dle class mar­ket and other in­vestors who may look to let out the units.

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