Kenya targets US $22bn from developers for affordable housing project

The Kenyan government is currently targeting to receive US$ 22bn from developers for the construction of affordable housing. The mega project is among President Uhuru’s “Big Four” policy agendas that he intends to fulfill together with his team before his term expires.

The Principal Secretary for Housing and Urban Development Aidah Munano confirmed the reports and said that the ministry was working on an incentive package to attract international developers into the project that targets up to a million low-cost housing units by 2022.

Also Read: Kenya’s Transport and Housing Ministry to construct 8,000 houses

However, she pointed out that 500,000 units was the bare minimum and that the ministry was targeting up to a million units. “The project will seek to put up 800,000 affordable units targeting buyers and 200,000 social units through development of land in slums in Nairobi, Mombasa, Kisumu, Nakuru and Eldoret,” she explained.

Other targeted sectors

The other sectors the government is targeting are manufacturing, food security and universal healthcare.

Recently, the Transport and Housing ministry in Kenya announced plans to construct 8,000 houses in Mavoko, Machakos County. The houses will be set up on a 55-acre piece of land and construction will commence soon.

Additionally, The National Housing Corporation (NHC), a parastatal under the Ministry of Housing, will contribute 6,000 houses to the mega project with a target of reaching eight counties over the next three years.

NHC chairman Francis Gitau Mungai said the parastatal will also construct housing estates with a combined 5,000 units on Eldoret (Uasin Gishu County), Stoni Athi (Machakos County) and Changamwe (Mombasa County) and another 1,000 units in Voi (Taita Taveta County), Kericho, Kisumu, Meru and Nyeri Counties.

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