Kenya to raise US $647m to construct 100,000 house units

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Kenya is set to raise a whopping US $647m to deliver at least 100,000 affordable housing units across the country as part of United Nations Office for Project Services (UNOPS) and the Kenyan government’s landmark affordable housing agreement.

Unops Executive Director Grete Faremo, confirmed the reports and said that the houses will be built using green technologies and energy efficient solar rooftops, while the implementation work will include local equipment, skills and expertise.

The agreement is a major milestone in Sustainable Development Goals (SDGs), and will help the government of Kenya in alleviating the housing crisis in the country and beefing up its communal amenities to meet community member’s needs.

Also Read:Kenya to construct high-rise apartment units

United Nations Office for Project Services 

UNOPS will kick start investment with US $10m in seed funding. The Director emphasized that needs of local communities will be a key priority of the project, through the inclusion of public facilities such as children’s playgrounds, schools and community halls.

UNOPS helps the UN and its partners provide peace and security, humanitarian and development solutions in the developing countries. UNOPS Social Impact Investment Initiative (S3i) seeks to de-risk infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas. This project is designed to ensure that a positive environmental, social and economic impact, with a financial return.

It has worked in Kenya since 1995, where it manages a growing portfolio of engagements, including project management, infrastructure and procurement services, as well as advisory services, human resources management and financial management. It is also expected that the project to have a total estimated gross development value of around US $4.7bn.

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