Housing Finance (HF) Group’s banking subsidiary, Housing Finance Company (HFC), has formed a strategic partnership with farmers in Kiambu County to undertake a housing project valued at Sh1.4 billion.
The development, known as Barista Gardens, will cover an expansive area of 58 acres. It will offer a range of fully serviced plots in five distinct courts. Four of these courts will consist of spacious quarter-acre plots, while the remaining court will feature slightly smaller eighth-acre plots.
HF Group’s Managing Director, Robert Kibaara, has announced that Barista Gardens will introduce a collection of 180 new residences in a scenic gated community. This development promises a serene countryside ambiance, offering residents a delightful country lifestyle, whether they seek a permanent home or an investment opportunity.
Kibaara further stated that whether you reside in Kenya or abroad, you have the opportunity to save for, purchase, or invest with HFC and experience a convenient lifestyle in a well-managed setting, with convenient access to social and commercial facilities.
Nyokabi Kamau, the chairperson of Kigutha Farmers Limited, expressed that the association had formed a partnership with HF Group because of its impressive legacy in the real estate industry and its proven success in comparable endeavors.
“By joining forces, HF Group reaffirms its dedication to enhancing the lives of Kenyans through the provision of meaningful opportunities for homeownership and a range of financing choices,” stated Nyokabi Kamau, Chairman of Kigutha Farmers Limited.
The news came as the ruling coalition is working to address the housing shortage in the country. The government has made a dedicated commitment to collaborate with the private sector, aiming to facilitate the construction and delivery of a minimum of 200,000 affordable houses every year.
This strategic partnership between the government and private entities is intended to alleviate the housing crisis and ensure accessible housing options for the population.
Based on the Centre for Affordable Housing Finance in Africa (CAHF), it is estimated that Kenya currently faces a housing shortage of 2 million units. This deficit continues to grow at a rate of 200,000 units per year, while the supply of housing is only able to meet 50,000 units annually.
The project aims to address the housing market disparity by helping bridge the existing gap, considering the current deficit of more than two million housing units.
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