Money Markets
The Koto Housing show house in Mlolongo. This house was built in two weeks. PHOTO | COURTESY
By JOHN GACHIRI
National Housing Corporation (NHC) is finalising selection of a consultant who will handle its Sh5 billion bond.
NHC general manager for finance George Kinyanjui says the
main transaction adviser will be selected in the next three weeks and
the winner is expected to help the State property developer look for
other service providers for the upcoming bond.
“The main consultant will work with our in-house
team to get other consultants,” said Mr Kinyanjui at a company briefing.
The Sh5 billion bond is part of a Sh10 billion medium-term note
programme whose proceeds will be used to construct up to 6,000 units in
the next three years.
The venture into the capital markets to raise Sh5
billion was announced at the beginning of the year but the roll-out has
been slow due to delays in getting approvals.
The houses that will be a mix of apartments,
bungalows and maisonettes will be put up in Kisumu, Eldoret, Mombasa and
Athi River. The agency is trying to diversify its sources of funding
to enable it construct some 30,000 units by 2017.
Some of the housing units that will come up will be
constructed using Expanded Polystyrene (EPS) panels from the company’s
Mavoko-based plant, a move expected to bring down costs.
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