Pangani Affordable Housing Project to Receive 160 Tenants
By Estate Cloud - over 2 years ago - Kenya
The Pangani affordable housing project is set to give occupation to the first group of 160 tenants to move into the government’s affordable housing project by February 2021.
The government plans to hand over 160 units from one block of the project to the tenants in two months’ time, making them the first owners of the Pangani Estate project.
Work on the Ksh. 5 billion Pangani affordable housing project began in May 2020 with eight blocks under construction and a total of 1,562 units.
Nairobi County Lands, Housing and Urban Renewal Executive Charles Kerich said the first block of 160 units will be handed over in February, just nine months after groundbreaking.
The 160 tenants include the original 48 tenants who were evicted from the premises in June 2019 to allow for construction.
Chinese company China Wu Yi has been undertaking construction work on the 5.2-acre Pangani affordable housing project in partnership with Technofin Kenya.
Mr. Kerich said construction is ongoing at a good pace with nine floors already completed in the first block.
“The foundations for the other blocks 2,3,4 and 5 are already complete while the foundations for blocks 6,7 and 8 have been excavated,” he said.
The units have been priced at Ksh. 1 million for one-bedroom units, Ksh. 2 million for two-bedroom units and Ksh. 3 million for three-bedroom units with a deposit requirement of Ksh. 500,000.
According to Stima Investment Sacco, the Pangani affordable housing project also contains affordable premium three-bedroom duplexes priced at Ksh. 7.5 million.
Nairobi Metropolitan Services (NMS) Director of Housing and Planning Charles Sikuku said the first phase of the project comprising 1,000 units will be complete by December 2021.
A recent analysis by FSD Africa revealed that the Affordable Housing Program (AHP) requirement for the private sector to deliver at KES 50,000 per sqm with own land and financing in the Park road project was not feasible. The Pangani project is expected to be delivered at KES 40,000 per sqm for one-bedrooms.