UK Investors to Develop 80,000 Affordable Houses in Kenya
A group of investors drawn from the United Kingdom have inked a deal to build 80,000 houses under President Kenyatta’s affordable housing project.
The deal to develop the new housing units was sealed during the inaugural UK-Africa Investment Summit held in London last week, according to Housing Principal Secretary Charles Hinga.
“During the UK tour, we managed to get potential investors for 80,000 units, 30,000 of them under Nairobi Urban Renewal and 50,000 as rental units,” said Hinga.
During the London summit, a Kenyan delegation led by President Kenyatta secured deals worth KSh170 billion. In a statement, the British High Commission in Nairobi said the deals cutting across housing, finance, renewables, and entrepreneurship “will create a new lasting partnership that will deliver more investment, jobs, and growth to Kenya.”
Under the National Affordable Housing Programme (AHP), Kenyatta’s administration targets to build 500,000 new units across the country by 2022.
The affordable housing project alongside food security, universal healthcare, and manufacturing are Kenyatta’s four main pillars that form the basis of his legacy.
Comments (4)
Don't UK have an Affordable Housing Crisis as it is?
And very serious one.
Much better than if they're built by the Kenyan corruption lords who would overcharge and do shoddy jobs or build nothing at all but pocket the money.
President Kenyatta is really trying hard to follow former Singaporean prime minister who changed that country so hard! Unfortunately his cohorts have no idea what he is trying to achieve... Most are concerned with enriching themselves... sad! It’s a good trial Mr President and we pray this project be successful!