Erdemann Property managing director Zeyun Yang (left) with suspended
Cabinet Secretary for Land, Housing and Urban Development Ms Charity
Ngilu at the ground breaking for the Great Wall phase two in Nairobi in
2014. Erdemann Property will Friday break ground for a Sh6 billion
residential housing project in Athi River.
Property developer Erdemann Property will Friday break ground for a Sh6 billion residential housing project in Athi River.
The
investment will be the company’s third phase of Great Wall Gardens,
which would see the setup of 2,000 units comprising two-bedroom and
three-bedroom apartments.
Acting Cabinet Secretary for Lands, Housing and Urban development, Dr Fred Matiangi, is expected to preside over the event.
“Our two- and three-bedroom apartments will be going at Sh5 million and Sh6 million respectively, we intend to complete the first phase of 600 units by end of next year,” said Erdemann Property head of planning John Rajwayi.
Since incorporation in 2003, Erdemann Property has set up over 1,800 apartments, including Windsor View (40 units), Metro Fairview Towers (206 units) as well as Great Wall Apartments Phase 1 and 2 with 560 and 288 units respectively.
This will be the second largest housing development to be launched, with HF Group announcement to develop over 1,272 units at Komarock earlier in the month.
Acting Cabinet Secretary for Lands, Housing and Urban development, Dr Fred Matiangi, is expected to preside over the event.
“Our two- and three-bedroom apartments will be going at Sh5 million and Sh6 million respectively, we intend to complete the first phase of 600 units by end of next year,” said Erdemann Property head of planning John Rajwayi.
Since incorporation in 2003, Erdemann Property has set up over 1,800 apartments, including Windsor View (40 units), Metro Fairview Towers (206 units) as well as Great Wall Apartments Phase 1 and 2 with 560 and 288 units respectively.
This will be the second largest housing development to be launched, with HF Group announcement to develop over 1,272 units at Komarock earlier in the month.
The HF Group project, which targets the high-end market, is expected to cost Sh7.5 billion.
LOW INCOME EARNERS
While observing that there is increasing demand for private homes by middle and low income earners, the cost of building materials is still a major hindrance to the provision of affordable houses in Kenya.
“However, we are in talks with the Ministry of Land, Housing and Urban Development to see how we can offer much more affordable housing in future,” said Mr Rajwayi.
LOW INCOME EARNERS
While observing that there is increasing demand for private homes by middle and low income earners, the cost of building materials is still a major hindrance to the provision of affordable houses in Kenya.
“However, we are in talks with the Ministry of Land, Housing and Urban Development to see how we can offer much more affordable housing in future,” said Mr Rajwayi.
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