Market News

Erdermann says has put Sh15bn in Nairobi, Mavoko houses

Zeyun Yang
Erdemann Property Chief Executive Zeyun Yang. FILE PHOTO | NMG 

A Chinese firm says it has recently put more than Sh15 billion in construction in Nairobi and neighbouring Machakos County.

The Erdemann Property Chief Executive Zeyun Yang said the company has built more than 4,000 residential housing units for the lower and middle class families, commercial blocks, industrial godowns and shopping malls, majority of them in Machakos County.

“The Great Wall Gardens (GWG) comprises 2,173 units and the proposed GWG 2 that is ongoing will comprise of 592 units. And we still intend to do more housing of GWG 3, 4, 5 and so on in Athi River that we will introduce soon into the market,” Mr Yang said.

“Our Mission is to provide decent and affordable housing to middle- and low-income earners and our vision is to see a Kenya where every family is in a position to own or rent a decent house.”

Mr Yang said each unit is selling from Sh3.7 million to Sh5 million for one-bedroom and two-bedroomed apartments respectively with provisions that payments can be staggered.

The ground-breaking for Great Wall Gardens was done in October 2015.

The construction started in January 2016 and was completed in June 2018.

“The homeowners have already taken occupation and currently the estate is over 60 per cent occupied, our forecast is that by June 2019, one year since completion, it should be 100 per cent occupied,” Mr Yang said.

The CEO said challenges included poor access roads, shortage of water in Athi River and lack of essential services like sewer lines.

According to the Ministry of Land, Housing and Urban Development demand for housing now stands at over 200,000 units per annum.