Corporate News
NHC to construct 4,000 houses with private developer
Mr Bosire Ogero (centre), National Housing Corporation chairman and Mr Dakane Ali (left), Sahal Construction company limited managing director, sign the Sh12 billion agreement. Photo/FREDRICK ONYANGO
Posted Wednesday, July 14 2010 at 00:00
According to Mr Ruitha the housing project is the second project to be executed on the basis of partnership, the first being the Kileleshwa housing unit where 105 units were put up with NHC financing 20 per cent of the scheme.
“Two more such projects are also planned for Thika and Donholm,” said Mr Ruitha.
NHC is also in the process of engaging developers from Iran who have offered to put up more houses to cater for the growing demand.
Demand for houses
Currently, the demand for houses is at 150,000 units whereas the market can only supply 30,000 units on an annual basis.
Due to the mismatch between demand and supply the prices have been on the rise.
Mr Shitanda sees supply for houses improving with the increase in the number of private public partnerships, in what could further push down the cost of houses.
“NHC is engaging in partnership with various players such as land owners, developers and financiers to ensure that we avail more houses to the market hence ensuring affordability,” said NHC chairman Bosire Ogero.
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