Student Factory Africa Limited has partnered with Dutch EPC to build US $50m student housing in Kenya to address the gap in the sector. According to Student Factory Africa Limited CEO, Christopher Osore, the company is excited to partner with KCCB, Tracom and Redbeton to deliver a state of the art, holistic student housing project that will change the lives of young Kenyans.
Student Factory housing in Kenya
The company will develop a 4500 bed student accommodation facility in a span of two and a half years. The ground breaking ceremony is set for April this year, with completion of the first phase which will include 1500 beds scheduled for April next year. The proposed development will be located in Karen where the firm has secured a lease for over a 12 acre portion of the land from the Kenya Conference of Catholic Bishops (KCCB).
The hostels are targeting students in the Karen/Magadi road area. Students will pay around US $91.07-US $182.15 per month. The project will be targeting IFC EDGE green building rating that is benchmarked to international standards.
Paul Njau Karuma, the Managing Director of Tracom Services Limited, said that the project has come at a time Kenya is in dire need of student housing that will impact young lives and provide habitable spaces.
According to the Ministry of Education, available student housing in Kenya stood at 300,000 compared to a university enrolment of 520,900 in 2019, excluding technical and vocational education and training colleges.
This project will be the first in Africa, but the firm plans to expand to more in the country and finally to other areas in the East African region.