This archive report was first published on 2 December 2019.
December 2, 2019 - Housing Finance has signed a partnership with Tecnofin Kenya Limited to finance end-users of the Nairobi Urban Renewal Affordable Housing project in Pangani estate, Nairobi.
The project, which aims to provide affordable housing to residents of Nairobi, will see Housing Finance finance end-users of the 1,562 affordable housing units being developed by Tecnofin.
Speaking after signing the partnership, Housing Finance Group CEO Robert Kibaara emphasized the need to address the country's housing deficit, which he said was one of the major current problems facing the country.
“At the heart of this partnership is helping to address one of the biggest challenges the country is currently facing – a staggering housing deficit that keeps growing each year while doing so at both an accelerated pace and within the reach of Kenyans. This is the second major deal we have signed in as many weeks underlying our strategic focus on affordable housing,’’ said Kibaara.
The Nairobi Urban Renewal Affordable Housing project is an initiative by the Nairobi City County Government in partnership with Tecnofin Kenya Limited to renew and re-create Pangani Estate by providing dignified and affordable housing for residents of Nairobi.
According to Tecnofin Executive Director Robert Muchoki, the project aims to increase the number of units on the property to meet the growing demand for housing in the city.
“The Pangani development offers exceptional value across the board with innovative social and affordable house concepts that are efficient and spacious for families coupled with large green spaces that promote sustainability and freedom,’’ said Muchoki.
