Kenya: NHC starts construction of 500,000 new houses
The National Housing Corporation (NHC) has rolled out a housing project to construct over 500,000 new housing units spread across the country.
The first phase of the project was unveiled yesterday in Nairobi and Machakos Counties where the corporation has just completed 222 new housing units.
NHC Chairman Architect Francis Gitau Mungai said the Corporation is committed to the creation of 500,000 new homeowners through the facilitation of affordable housing to Kenyans.
“The Corporation appreciates that it cannot achieve this on its own and welcomes partnerships that can help achieve these numbers” he said.
“We have projects set to commence in Mombasa, Kericho, Nyeri, Kakamega, Samburu, Siaya, Machakos, Uasin Gishu and Nairobi counties among others.
“The Corporation has further enhanced its lending to Kenyans who wish to build houses in the rural and peri-urban areas. We have increased the applicable loan from Kshs 3 Million to 5 Million. We are now accommodating those who wish to put up multiple dwellings with loans of up to 10 Million. This is at an interest rate of 13% over 10 years. We encourage Kenyans, a majority of who have pieces of land to take advantage of this facility”.
The ambitious projects are part of the Corporation’s ongoing projects which range from the outright sale to tenant purchase and rentals.
“These projects have been built using the EPS (Expanded Polystyrene) technology. The Corporation has a factory in Mlolongo that produces this alternative building material, which it is utilizing in all its projects and facilitating others to build using it,” the chairman noted.
He further said that the use of the EPS and other alternative building technologies will go a long way in ensuring that the projects are completed faster without compromising on quality. Enormous cost savings are gained as well as other benefits, all of which will be passed on to the end buyer.