Erdemann injects Ksh. 15 billion into construction of affordable houses

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A section of the Great Wall Gardens Housing Projects in Nairobi. PHOTO/COURTESY: Erdemann Property Ltd

Chinese investors have been vital in pushing for the realization of President Uhuru Kenyatta’s Housing Pillar under the Big Four Agenda; with the latest example being Erdemann Property which has recently invested Ksh. 15 billion into the construction of affordable houses in both Nairobi and Machakos Counties.

In a report by the Business Daily, Zeyun Yang; the company’s Chief Executive revealed that majority of the completed housing projects, which include both residential and commercial units, were constructed as part of the firm’s Great Wall Gardens Project which seeks to create affordable houses for middle and low income earners.

“The Great Wall Gardens (GWG) whose groundbreaking was done in 2015 and construction completed in 2018, comprises 2,173 units and the proposed GWG 2 that is ongoing will comprise of 592 units. And we still intend to do more housing of GWG 3, 4, 5 and so on in Athi River that we will introduce soon into the market,” Mr Yang is quoted as saying by the Business Daily.

“Our Mission is to provide decent and affordable housing to middle- and low-income earners and our vision is to see a Kenya where every family is in a position to own or rent a decent house.”

The Business Daily similarly reports that the completed units, most of which are in Machakos County, will retail at Ksh. 3.7 million to Ksh. 5 million for one bedroom and two bedroom houses respectively with buyers having the option to pay in reasonable installment plans.

The rush by Chinese Companies to invest in Kenya and support President Kenyatta’s Big Four Agenda ties in with China’s Belt and Road Initiative which is a development strategy adopted by the Chinese government that involves the development of infrastructure and investment in countries in Europe, Asia and Africa.

President Kenyatta signed, among other deals, a cooperation agreement within the Framework of the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative during his visit to China in the second half of 2018.

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