This archive report was first published on 11 June 2020.
On June 11, 2020, HF Group handed over the first phase of its Sh700 million Clay City housing project to buyers. The project, launched in 2018, was a joint venture with Clay Works Ltd, which owns the land, and was financed by HF Group.
The Sh700 million project consists of 80 three-bedroom apartments, priced at Sh8.7 million per unit. The apartments come with separate dining areas and spacious en-suite master bedrooms in a gated community development.
According to HF Group Chief Executive Robert Kibaara, the company dedicated significant time and resources to ensure the project met the needs of its home buyers. "We dedicated significant time and resources to ensure we're delivering exactly what our home buyers are looking for," he said.
Mr. Kibaara noted that the project's setting is perfect for home buyers seeking serenity, convenience, and amenities. "The setting of Clay City is perfect for home buyers who want the serenity, convenience and amenities they’ve dedicated their lives and hard-earned income to achieve," he said.
HF Group has committed to developing affordable housing units in the second phase of the project, with plans to build about 800 units, comprising a mix of one, two, and three-bedroom apartments. The company aims to make home ownership a reality for the majority of Kenyans through its affordable housing agenda.
As part of its turnaround strategy, HF Group is concentrating on mortgage financing for buyers. The company has invested in the Kenya Mortgage Refinance Company, which is set to unlock funds for lending to developers and buyers.
