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Market News

HF Group earns Sh2bn from new homes

Robert Kibaara
HF Group CEO Robert Kibaara. FILE PHOTO | NMG 

Listed real estate developer-cum-lender HF Group #ticker:HFCK has sold 95 percent out of its 248 Kiambu-based modern apartments featuring two- and three-bedroom units for about Sh2.2 billion.

The houses, known as Richland Point, were built through a joint venture between HF Group’s development and investment subsidiary — Housing Finance Development Investment (HFDI) — and Richland Development Limited.

Mortgage financier Shelter Afrique financed the project.

“We are only left with about 18 units, which are not sold. Actually, all two-bedroom units are sold,” HF Group CEO Robert Kibaara told the Business Daily yesterday. That means all the remaining houses are three-bedroom units worth a total of Sh171 million.

“A two-bedroom unit has been selling at Sh8.5 million while a three-bedroom one has been going at Sh 9.5 million,” he said.

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The apartments on Kamiti Road, Kiambu County, consist of 63 two-bedroom units and 185 three-bedroom units.

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