Kenya is set to construct 300 housing units in Kiambu county through Sprinter Real Estate investment limited who expressed interest in investing in Kenya’s real estate sector.
Mr. Mbugua, Sprinter’s Chief Executive said they will construct the housing units which will be two and three bedroom units in Ndenderu dubbed Fanisi Tigoni View.
“We are excited to be part of the vehicle of improving the housing sector in Kenya. The first project ‘The Fanisi Tigoni View’ is a fantastic project, with the first phase being launched on Saturday with about 90 units on a one acre piece of land,” said Mbugua, Sprinter’s Chief Executive.
The Fanisi Tigoni View
The Fanisi Tigoni View will be a mixed use development that will sit on 8 acres prime land next to the western Bypass interchange. Additionally, the firm plans to build over 700 units this year targeting the middle income with their prices ranging between US $50,000 and US $70,000.
According to the World Bank, there is a shortage of 2 million low-cost houses in Kenya. 200,000 houses are needed each year in order to achieve the yearly demand for housing in Kenya but only 50,000 units are constructed annually. The Bank also states that 61% of urban households in Kenya leave in informal settlements.
About TEMA and Sprinter
TEMA was founded in 1988, its headquarters are located in Naples, Florida. TEMA works with 5,000 business owners in over 22 countries with the aims of growing the revenues of their businesses, increasing their market share, reducing and controlling their business costs and turning their businesses into great businesses.
Sprinter Real Estate Investment Limited, on the other hand, aims to be a market leader in the provision of alternative and market-friendly real estate options. Sprinter joins a long list of real estate companies that have constructed high-rise residential buildings in Ruaka after the completion of Two Rivers Mall two years ago and the proposed construction of the Northern Bypass.