This archive report was first published on 24 October 2019.
With the off-plan house market facing scrutiny over missed deadlines, poor quality, and lack of transparency, Mizizi Africa Homes is introducing a new approach to buying homes before they are built.
According to the company, making homeowners own the entire development process eliminates the risk of missed timelines in project completion and builds customer confidence.
“We commit a definite construction period in our sales agreement and assure our customers of regular progress updates, making them own the entire process,” says Mizizi Africa Finance and Operations Director, Mr George Mburu.
For a competitive price of Ksh3.5 Million, buyers can own a 3-bedroom bungalow in Kiambu County, with a plot and title deed guaranteed upon paying an initial deposit of Ksh1.5 Million.
“Our mission is to empower more Kenyans to own quality and affordable homes. This is a good opportunity for first-time buyers looking for modern features and amenities that power their lives,” said Mr Mburu.
Kenya's low-cost housing deficit stands at 2 million units, with 200,000 houses needed each year to plug the gap. However, only 50,000 units are constructed annually, leaving 61% of the country's urban households to live in informal settlements.
The government's Big Four Agenda has identified affordable housing as a key pillar to drive economic growth, with a target of delivering 500,000 units by 2022.
“We are committed to the affordable housing agenda and will continue to design quality and affordable homes to help the government achieve this goal as we improve the lives of our clients,” said Mburu.
