This archive report was first published on 15 July 2021.
Published on July 15, 2021, the Pangani housing project, a 17-storey building with a façade of baked clay, is a significant development in Nairobi's affordable housing landscape.
Located on 5.2 acres, the project is a subsidiary of investment company Sovereign Group, managed by Regent Management. The Affordable Housing Programme (AHP) aims to provide affordable housing to low-income earners, with the Pangani project catering to those with a basic salary of Sh150,000 and below.
The project consists of 128 one-bedroom houses, 248 two-bedroom houses, and 576 three-bedroom units, all sold out. An additional 610 three-bedroom duplexes will be sold at market rate to help offset the subsidisation of the other 952 units.
Regent director Noah Kulei notes that there is a big need for affordable housing in the city, and the project's high-quality construction and finishing have drawn in buyers. The houses feature vinyl flooring, granite on kitchen sinks, and wood plastic composite material for doors.
Buyers pay a 40% deposit, followed by monthly or quarterly installments over three years. The one-bedroom house costs Sh1 million, two-bedroom Sh2.5 million, and three-bedroom Sh3 million. The three-bedroom duplexes, originally priced at Sh7.5 million, now sell for Sh10 million due to high demand.
Project manager Alvin Muchai of Mace YMR notes that four blocks will be completed by August, with eight identical blocks in total, featuring a courtyard with children's playing facilities and other recreational areas.
