Property development in Nairobi. The Langata phase VI homes will retail at Sh6 million each. PHOTO | FILE
By GEORGE NGIGI
In Summary
- The apartment units to be built on a 1.5 acre piece of land will retail at Sh6 million each.
- Completion of the project, slated for mid next year, will push the total number of housing units built on the 25 acre piece of land to 895 units.
National Housing Corporation (NHC) has kicked off
construction of 80 two-bedroom units in Langata phase VI housing
project. The apartment units to be built on a 1.5 acre piece of land
will retail at Sh6 million each.
Completion of the project, slated for mid next year, will
push the total number of housing units built on the 25 acre piece of
land to 895 units. NHC acquired the land from the Kenya Wine Agencies
Ltd.
The project is located along the junction between
the Southern by-pass and the link road from Otiende Road junction
approximately 10 kilometres from the Nairobi Central business district.
Affordable houses
“The main objective of the development is to
provide decent and affordable housing units while optimising the use of
scarce urban land and blending favorably with the environment and
existing structures,” said NHC managing director Henry Maina.
The units will be sold under the tenant-purchase
scheme which requires the prospective buyer to deposit 10 per cent of
the cost with the corporation while the rest is paid within 20 years
through monthly remittances.
NHC sold Langata Phase 1 units at Sh3.5 million
each but they are currently retailing at approximately Sh6 million
underlining the rapid gains enjoyed by real-estate investors.
The corporation intends to build a commercial centre for the residents.
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