Kenyan realtor Karibu Homes, which partnered with mass-housing lender Shelter Afrique to put up 288 housing units in Athi River, has won this year’s Africa Property Investment Award.
The award was for the ongoing activities to develop affordable housing that help address the biting shortage for decent housing.
Karibu Homes founding managing director Ravi Kohli said the award confirms suitability of their housing product innovations that could be replicated across Africa.
“Karibu Homes’ strategy is to provide affordable and well-constructed homes that present Kenyans with a decent living space,” he said.
Karibu Homes received a Sh355 million loan from Shelter Afrique that was used to put up 288 housing units in Athi River town.
The lender’s chief executive, Andrew Chimphondah, said recognition of Karibu Homes’ model created a ready market for its products that informed the lender’s decision to fund construction of more homes.
“Shelter Afrique focuses on the provision of affordable housing via such partnerships with developers and Karibu Homes’ objective augurs well with our mandate of expanding supply of low-cost housing across Africa,” he said.