Monday, February 26, 2024
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HF Group signs deal to finance end user buyers of affordable housing project

The  Big4 agenda on housing has received a boost after the Housing Finance (HF) Group announced a partnership with Habitat Heights Limited to provide end user financing, sales and marketing of 8, 888 affordable housing apartments currently under development.

Habitat Heights Limited is a joint venture between Singapura Developers Ltd, a subsidiary of Singapore consortium AFRA, and Habitat Housing Cooperative Society Limited. The units will include one, two and three bedroom apartments as well as studio apartments and retail shops.

“This partnership is in line with our strategy to focus on end user financing for affordable housing and create opportunity for Kenyans in the middle income bracket to own homes. Our goal as HF is to facilitate decent housing for the middle class by connecting them with developers such as Habitat Heights Limited,” said HF Group CEO, Robert Kibaara.

The  Habitat Heights Chairman, Maheshwaran  Suresh Kumar said Kenya would benefit from the experience the consortium has garnered through developing some of the best in class residential, office, retail, and amusement properties across the globe.

“This new development accords us a unique opportunity to create a true housing project that benefits the country for generations to come and will be a model for other countries around the continent and the world. We look forward to working with HF Group and leveraging on its knowledge of the Kenyan property market and legacy of making dreams possible to enable tens of thousands of families to own homes,” said Kumar.

The project is split into seven phases of construction with each construction phase projected to take 18 months. A new phase will be launched every three months to ensure timely delivery of the project.

The project will also tap into HF Group’s expertise in property sales and marketing to accelerate uptake of units.

Residents of Habitat Heights will benefit from convenience stores, cafes and bistros, a multipurpose hall, integrated solar heating for hot water supply, garbage management system, backup power supply and a smart city maintenance system.

“The features and design of this estate promote a wellness lifestyle with numerous sporting facilities that enable residents to lead a consistently active lifestyle,” added Kumar during the MoU signing ceremony which took place at HF Group’s Rehani House headquarters.

By  Joseph  Ng’ang’a

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