Kenyan city of Tatu gets 1,000 affordable homes from US backed investors
Talu, November 23, 2018 (AltAfrica)-Karibu Homes, a private developer of modern, inclusive communities in Kenya, has signed an agreement with Tatu City to enable it to develop over 1,000 affordable homes at the mixed-use, mixed-income development in Kiambu County, Kenya.
Backed by US investment, the project’s cost will be in excess of $40 million and will provide increased opportunities for local employment in the area.
Karibu Homes’ site, located right on the Kiambu Road, will have 1-3 bedroom apartments with 24-hour security and numerous amenities including basketball courts, a club house and shops.
It will be similar in scope to other developments delivered by the company and bring current homes in planning or under construction at Tatu City to over 5,000.
“This is a fantastic addition to the range of housing on offer at Tatu City,” said Nick Langford, Kenya Country Head for Rendeavour, Tatu City’s developer. “Provision of housing for the many, not just the few, is a priority for Tatu City. Karibu Homes will provide an important part of the mixed-income housing we are offering the market.”
“Tatu City is a unique development in a prime location for our target market,” said Ravi Kohli of Karibu Homes. “The pace of development around Tatu City is outstanding and we are delighted to be part of it. Our goal is to develop a flourishing community of decent, affordable homes, providing the best value for money within this high profile estate. If you are interested in buying, please call +254 705 151515 to register your interest.”
With a shortfall of around 1.9 million housing units across greater Nairobi and approximately 70% being in the lower to middle income segment, Karibu Homes and Tatu City are well placed to assist in providing towards the goal of over 200,000 units per year to meet the shortfall.