E-Farm eyes real es­tate with Sh200m project

The Star (Kenya) - - News -

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.

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