Construction of the 20-Bn Low-Cost Housing Project Officially Begins

By Lynnet Okumu / Published February 15, 2022 | 11:12 am

KEY POINTS

The project, dubbed ‘Legacy ridges will sit on a 200-acre land in Ruiru and is expected to house over 20,000 people.

KEY TAKEAWAYS

The prices will cost as low as 3.5 million shillings and 4.3 million shillings for two-bedroom and three-bedroom houses respectively.

Two actual property corporations, Heri Houses and Finsco Africa have today launched the development of a 20 billion shillings housing project comprising 4,000 models in Kiambu County.

The project, dubbed ‘Legacy ridges will sit on a 200-acre land in Ruiru and is expected to house over 20,000 people.

The prices will cost as low as 3.5 million shillings and 4.3 million shillings for two-bedroom and three-bedroom houses respectively.

Meanwhile, a three-bedroom flat is retailing at 8.5 million shillings whereas the introductory charge of the four-bedroom is 9.7 million.

The houses will include 2,800 two and three-bedroom apartments with the rest being marionettes and servant quarters.

According to Finsco Africa CEO John Mwaura, the clients involved in the undertaking are anticipated to pay a 20 percent deposit and clear the remaining throughout the building interval.

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Talking on behalf of Heri Houses CEO KimothoKimani, advertising, and marketing director Paul Mugo stated that the companies will start building the primary 58 models instantly and roll out new models every six months.

“The fact that sold out is a sign that there is high demand for quality housing that is also affordable,” Mugo stated.

The true property companies have assured consumers that the cash will be channeled to an escrow account to make sure of its security.

“We have MOUs with some of the saving institutions, including Saccos and banks, which will give them loans to service for up to 25years. The monthly installment is equal or less than their current house rent,” Mugo stated.

The CEO added that the businesses have been committed to delivering trendy, two- and three-bedroom residences that match into the federal government’s reasonably priced housing plan.