The government has announced the sale of at least 1050 affordable housing units in Ruiru’s Ruiru Boma Estate.
In a circular by the principal secretary for the Ministry of Lands, Public Works, Housing and Urban Development Charles Hinga said that the housing units will be sold separately from parking bays.
The houses have been developed in through Kings Developers Limited, a real estate development company.
“The Government of Kenya has committed to the delivery of 200,000 houses with supporting infrastructure annually. To this end, the Government through the State Department for Housing and Urban Development in partnership with M/S Kings Developers Limited has embarked on the development of Ruiru Boma Estate. The development will comprise 1,050 No. housing units,” Hinga said.
Affordable housing units
There are 40 one-bedroom studio apartments with each going for Ksh1,250,000 and 30 one-bedroom apartments going for Ksh1.5 million.
The project has 60 two-bedroom apartments going for Ksh2 million and 504 two-bedroom (without master ensuite) selling at Ksh3,392,000.
The project has 336 two-bedroom (master ensuite) apartments selling at Ksh3,975,000 and 80 three-bedroom (with balcony) apartments going for Ksh4,505,000.
Parking bays will be sold separately for Ksh200,000, according to the circular.
“Parking bays will be sold separately from the housing unit. An applicant will be at liberty to buy a unit with or without parking. A parking lot will be available at a price of Ksh200,000 and will be financed together with the housing unit for those interested,” Hinga said.
“Officers will finance the purchase of the houses through either their respective housing mortgage schemes where applicable or through own financing. Independent Public Mortgage Schemes can reserve houses for their staff through the State Department in liaison with the developer.”
Hinga says the government has facilitated the provision of financing for the purchase of affordable housing through the Kenya Mortgage Refinance Company (KMRC) and its partner local commercial banks and SACCOs.
“KMRC will provide long-term fixed-rate funding at single-digit interest rates thereby increasing the availability and affordability of mortgage loans,” he added.
