Centum Re & KCB Seal Major Housing Partnership
Centum Re intends to build more than 10,000 residential units throughout the East African area with assistance from KCB Bank.
A branch of Centum Investment Company Plc, operating various initiatives in Vipingo, Entebbe, and Nairobi, aims to enhance its real estate holdings through this transaction.
The collaboration seeks to address the housing deficit through adaptable and environmentally friendly mortgage solutions by improving financial support options for individuals interested in buying properties within Centum Real Estate developments. Additionally, this initiative will assist Centum with project funding to ensure the provision of high-quality, contemporary residences. As stated by Caroline Wanjeri, the Director of Mortgage Business at KCB, during the signing ceremony, "This partnership will deliver various banking services, extend mortgages to help aspiring homeowners achieve their dream houses, as well as supply necessary credit facilities."
This coincides with the government’s aim to construct approximately 500,000 affordable housing units nationwide, which would increase access to high-quality and safe living spaces along with job prospects for many individuals.
So far, the state has finished several housing projects across different regions of the country, with others remaining underway.
"Our projects are crafted to address a broad spectrum of the market, primarily targeting investors. An excellent illustration is our Two Rivers development; here, we're positioning the initiative to meet the increasing need for rental homes, specifically catering to clients associated with the United Nations and diplomats," said Kenneth Mbae, the Managing Director at Centum Real Estate Limited.
As the United Nations broadens its activities in Nairobi, we expect considerable interest in premium accommodations. This will offer robust returns in US dollars to our investors and aid in the ongoing development of the local property market.
Provided by Syndigate Media Inc. ( Syndigate.info ).
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