Kenya’s Housing Finance to invest US$ 11.2m in projects

Housing Finance has disclosed plans to construct 115 four-bedroom mansionettes in Komarock Estate, Nairobi.

The mortgage financier will construct the housing units at an estimated US$11.2m. The funds will be made available through a rights issue by March next year.

The project will be the sixth housing project undertaken by the company. The project, dubbed Komarock 5B, is commence after completion of Komarock 5A where all the 162 four-bed roomed mansionettes have already been sold.

The financer is currently also constructing a shopping mall in the area.

Housing Finance, established in November 1965, to promote a savings culture and home ownership among the citizens of newly independent Kenya, is the leading mortgage provider bank and Premier Property Company in Kenya.

http://constructionreviewonline.com/2014/11/03/kenyas-housing-finance-invest-us-11-2m-housing-project/