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