HF to launch phase two of Komarock Sh3.3bn estate

Sunday October 8 2017

Housing Finance seeking to boost property portfolio. file photo | nmg

Housing Finance seeking to boost property portfolio. file photo | nmg 

By BONFACE OTIENO
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Housing Finance Group #ticker:HFCK is in the coming months set to embark on the construction of a 480-unit residential estate at the cost of Sh3.3 billion in Komarock, Nairobi, as it seeks to boost its property portfolio.

The project, Komarock phase two, will be developed by the Group’s subsidiary, Housing Finance Development and Investment.

HF said it will be the second-largest housing project after Nyayo Estate, Embakasi, to be undertaken in Nairobi in the past 10 years.

“The project will features 480 housing units. It will consist of one-bedroom, two-bedroom and three bedroom units with lifts in each apartment block, children’s play area, ample parking, borehole water and provision for solar water heating,” said Housing Finance Development Investment Executive Director James Karanja in an interview.

Cash buyers will get a one bedroom unit at Sh3 million, two-bedroom unit will cost Sh4.95 million while three bedroom units will go for Sh4.95 million.

The houses will also be sold through mortgage loans at a cost of Sh3.5 million, Sh5.6 million and Sh7.6 million for a one-bedroom, two-bedroom and three-bedroom units respectively.