Property developer Heri Homes has partnered with real estate firm Finsco Africa to construct 384 apartments in Ruiru as part of its mixed-use development project dubbed Legacy Ridges.
The housing project sits on a 10-acre property in Ruiru Town, off the Thika Super Highway and primarily targets low and middle-income earners.
The apartments comprise two-bedroom units, which will cost Sh3.5 million, and three-bedroom units retailing at cost Sh4.3 million.
“This new project is in line with our promise of providing Kenyans with affordable houses. These houses are strategically located, making them ideal for Kenyans intending to commute to the city daily,” said Kimani Kimotho, Chairman Legacy Ridges.
The new addition comes after the company launched its maisonette project on the same property in February 2022 with three-bedroom units retailing at Sh8.5 million with the introductory pricing of the four-bedroom units at Sh9.7 million.
The company said it opted to sell the houses off-plan -before the property is built and with only the plans available for inspection- since it gives customers an opportunity to re-design their houses to suit their benefits and also gives them some flexible terms of payments.
So far, 90 units have been sold, with the company hoping to offload the remaining units in the next few months.
The Legacy Ridges project is expected to be completed in the next two years.
The project, which is being carried out in phases, will comprise 2,800 units that will include two and three-bedroom apartments, while the rest will be maisonettes, including servant quarters, lounges, dining area, car parking, and kitchen.
“In complementing the government’s efforts of affordable housing agenda, we are focused on real estate solutions that are in line with the customer satisfaction that will deliver practical solutions like having stable families and community, that starts with every homestead owning a home,” said John Mwaura, CEO Finsco Africa.
The real estate sector has seen growth post-Covid.