NHC projects to lower housing costs in Nairobi

The corporation has also intensified joint ventures with private investors such as land owners, financiers and property developers to boost home supply.

“NHC is working in partnership with other players such as land owners, developers and financiers to ensure that we provide more houses at the least cost to ensure affordability,” said Mr Bosire Ogero the chairman of NHC.

For instance, NHC has partnered with Sahal Construction to put up 4,500 units in Mavoko area.

The housing project, that is estimated to cost Sh12 billion, will be the single largest housing scheme in the country.

With a market price of Sh2.75 million for the two bedroom units and Sh3.75 million for three bedroom units, it heralds the lowest market prices.

“NHC is looking at carrying out projects of such magnitude to enable us influence the prevailing market prices for the benefit of the home buyers,” said Mr James Ruitha, the corporation ‘s managing director.

“This project is expected to trigger price changes with the potential of lowering costs and enhancing house ownership,” said Housing minister Soita Shitanda while presiding over the signing of the partnership agreement.

NHC is in the process of finalising agreement for the construction of a similar number of houses in Thika and Doonholm.

It is also planning to pull down Nairobi’s old restates such as Jamhuri, Shauri Moyo, Starehe and Makadara to put up more units.

It is currently constructing 315 units in Shauri Moyo which will be used to settle the civil servants living in the old houses estimated to occupying 15 acres of land.

According to Mr Shitanda, the relocation will allow the corporation to put up 2,500 units which will be allocated to civil servants and others sold.

Subsequent redevelopment of the estate will provide units for sale to the public.