Money Markets
NHC plans Sh5bn bond as housing demand increases
The NHC plans to build an average 10,000 units every year to meet the growing demand. Photo/FILE
Posted Tuesday, October 20 2009 at 00:00
The move by NHC will lead to increased competition as commercial banks are raising their stake through partnership with developers.
The latest entrant is Co-op Bank that intends to work with Saccos which holds a substantial stake of land in the country.
“The country Saccos movement holds extensive land for their members and we intend to ride on the direct business ties we has with them to enable ease of access to houses by the members”, said Chris Chege the Head of Mortgage in previous interview with Business Daily.
Similarly, insurance companies are taking into real estate to cushion themselves from dwindling returns experienced in the equity market.
Pan African Insurance is developing a high end property in the leafy Runda estate.
Other players upping their game include Habitat for Humanity Kenya, a non-governmental housing actor which intends to provide construction finances to individuals across the country who put up houses costing not more than Sh160, 000.
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