Property developer, Mi Vida Homes, has commenced construction of its three key projects, namely Amaiya and 237 GC anchored within Nairobi’s Garden City Development and KEZA in Riruta, as it sets its eyes on a mixture of investors and homeowners who are looking for affordable and quality houses within and without the city.
KEZA is an 1,150-unit affordable housing project in the Riruta area of Nairobi County with a mix of studio, one-, two-, and three-bedroom apartments. The demand for such houses has been on the rise as homeowners seek quality and affordable houses.
Amaiya is the second phase of the Developer’s mid-market product within Garden City and follows the successful sale and completion of Mi Vida’s first project within the precinct. The project comprises of 1-and-2-bedroom duplexes and three-bedroom units.
237 GC is a 640-unit affordable housing project within Garden City community, with a mix of studio, one- and two-bedroom apartments. It includes a component of bulk institutional offtake that was recently announced by Mi Vida.
“237 offers high-quality housing within Garden City, complemented by a diverse array of amenities. Life in this community grants you access to a variety of essential services, including supermarkets, delis, over 100 retail shops, restaurants, as well as financial and health facilities,” said Mr. Samuel Kariuki, Mi Vida Homes Chief Executive Officer.
Commenting on the groundbreaking events, Mr. Kariuki noted that this was a significant milestone in keeping the Company’s promise to its customers. “The projects are fully funded, and the current phases are more than 80% presold. I am confident that they will be delivered on time, in meeting our customers expectations”, he further added.
Mr Kariuki also noted: “Mixed-use developments, exemplified by our successful projects at Garden City, have proven to be increasingly appealing to tenants compared to standalone developments. They boast impressive returns, including an up to 13% yield across completed projects. Furthermore, the modern homebuyer is more informed and wants value beyond the unit they purchase.”