E-Farm eyes real estate with Sh200m project
Nairobi-based housing society E-Farm Housing Co-operative is planning to move into real estate from next year. Chairman Wallace Mwaura said the move is aimed at tapping into the increased appetite for affordable housing from its 5,000 members, and boost its revenue streams. “The shift is expected to play a key role in our growth plan with proceeds going to fund our future projects and in the process reduce over reliance on local borrowing to fund our projects,’’ Mwaura said in an interview. Under the plan, the firm plans to build 5,000 low-cost housing units with a one bedroom unit going for Sh1 million.