Real-estate developer Diamond Property Merchants is putting up Sh2.5 billion low-cost residential units in Mlolongo.
The project, which is mostly financed by five banks including Family Bank and comprises two-bedroom and bedsitters on a ten-acre plot, will be funded through a mix of debt and internal cash.
A two-bedroom house will go for Sh4.5 million and a bed-sitter for Sh1.8 million.
The groundbreaking, according to the firm, takes place early next year. They should be complete in two years.