The National Lands Corporation (NHC) has unveiled plans to construct 500 affordable housing units in Kiambu County’s Ruiru Town by December 2021.
The 500 units comprise a total of 2,000 housing units set to be unveiled in different parts of Kiambu County by the end of the year. The government corporation has similarly inked a new deal to construct 5,000 housing units at Konza City effective November 2021.
According to specialists from Cytonn Investments, improved infrastructure on the Thika Super Highway and Mombasa Road, together with increased population and urbanization in the region, as well as the availability of prime land for development has driven NHC’s resolution to institute affordable housing units in the county.
The remaining 1500 units will be unveiled in other parts of Kiambu County such as Thika, and Kiambu town. Kiambu and Machakos where Konza City is situated now join Laikipia, Muranga and other counties that have inked deals with NHC to develop affordable housing units in their respective regions.
The announcement by NHC follows earlier commitments by firms such as the UK Climate Investments (UKCI) and FSD Africa Investments (FSDAi), who have pledged to support Kenya’s green affordable housing initiative by delivering close to 10,000 units this year.
The housing units will offer reasonably priced ownership and rental opportunities with 100 percent ownership at an average cost of Ksh. 4.5 million while rentals will cost buyers approximately Ksh. 15,000 to Ksh. 50,000 per month.
A recent report by Deloitte has anticipated that the country’s construction sector will grow this year as a result of increased enactment of investor-friendly coupled with the roll-out of infrastructure projects aimed at augmenting regional integration and economic diversification.
According to the report, the sector accounted for almost 6 percent of Kenya’s GDP while supporting over 221, 000 jobs per year in both the public and private sectors in the last five years.
In the period under review, the sector recorded a year-on-year growth of 7.8 percent on average but is estimated to have slowed down to 1.3 percent real growth in 2020 as the COVID-19 pandemic ravaged through the sector’s activity.