The National Housing Corporation (NHC) has continued to link investors to financial institutions for eased access to mortgages, even as it seeks to offset 1, 200 housing units nearing completion.
Managing Director David Mathu, has said that the Corporation was working closely with financial institutions such as the Kenya Mortgage Refinancing Corporation and its affiliate institutions, to afford would-be customers with single-digit interest finance credit.
Mathu, who noted that 45 units were available for sale in addition to 1,200 housing units nearing completion, said that the corporation, in collaboration with the State Department for Lands & Physical Planning, had also set up a desk to facilitate faster transfer of titles to potential customers.
“This would enable our customers to acquire sectional titles for easier access to mortgage finance. The Corporation offers very competitive pricing, with the tenant purchase scheme affording lenient payment terms that are flexible up to 18 years on a rent-to-own mode of sale,” he added.
The ongoing Affordable Housing Program (AHP), which is also on the Corporation’s to do list, has since rolled out 103, 000 housing units that are at various stages of construction across the country, with the corporation also targeting Kenyans in the Diaspora.
In partnership with the county governments, Mathu foresaw a drastic reduction in the cost of the housing units owing to the provision of land by the counties, in addition to operationalization of at least eight regional offices to bring its services closer to the people.
“The Corporation has engaged professionals in addition to implementation of its building information modeling system for all its projects designs and execution to mitigate against cost and time overruns and quality of the housing units and therefore, guarantee efficiency of our projects and attractiveness of our units,” he said, boasting in promotion of green building practices, in line with global standards.
“The NHC Expanded Polystyrene (EPS) factory, the largest in East and Central Africa, produces climate-friendly and cost-effective building materials. Over 2,000 artisans and masons have been trained in using EPS technology, contributing to faster and more sustainable housing construction,” added Mathu.
Currently, the Corporation is implementing various projects under its traditional commercial segments portfolio and AHP in the counties of Meru, Kericho, Kakamega, Marasabit, Kisumu, Nakuru, Mombasa, Homa Bay, Embu, Samburu, Kirinyaga, Siaya, Nyeri, Uasin Gishu, Machakos, Taita Taveta and Nyandarua.
These projects, he said, have created over 160, 000 employment opportunities through the multiple programmes that the Corporation was undertaking either directly or indirectly in both informal sectors, such as boda boda riders, market vendors, suppliers, artisans, security guards, construction professionals, manufacturers, banking and insurance companies among others.
By Anne Sabuni
