The government is set to partner with East African Legislative Assembly (EALA) Member of Parliament Suleiman Shahbal in changing the lives of slum dwellers in Nairobi County.
This will be achieved through a Ksh20 billion Affordable Housing Project to be launched on Monday, March 6, by President William Ruto in Starehe Constituency.
The project will be developed by GulfCap Real Estate which is owned by Shahbal who is an Orange Democratic Movement (ODM) politician.
Shahbal in a statement envisioned that the project would transform how Kenyans view home ownership.
“GulfCap Real Estate‘s philosophy revolves around building a lifestyle, not just apartments hence the sharp focus on providing facilities touching on every aspect of the well-being of homeowners,” the statement read in part.
Upon completion, the project will offer a range of amenities including; children's playgrounds, a swimming pool, a gym, greenery, sports facilities, a community centre, an Early Childhood Development (ECD) centre, outdoor communal recreational facilities, and food courts.
GulfCap Real Estate will build over 6,000 units composed of one, two, and three-bedroom and shop typologies.
Kenyans will have a chance to buy the houses at affordable rates starting from Ksh1.1 million according to the statement.
“In addition to creating over 6,000 new homeowners, the project will create thousands of job opportunities directly and indirectly for the people of Nairobi, especially the hustlers,” Shahbal explained the economic impact of the project.
Further, in line with the President’s bottom-up economic agenda, Gulf Cap Real Estate will set aside over Ksh500 million worth of tenders of the project for the Jua Kali sector with at least 50 per cent going toward women.
“We are grateful for the support that both the National and County Governments have extended towards this project which has also excited our local manufacturing players who will provide us with the required materials for the project,” Shahabl remarked in a statement.
Shahbal’s GulfCap is also building housing projects in Buxton Mombasa and is one of the largest real estate companies in the country.
Ruto has embarked on an ambitious program for providing affordable housing programs to Kenyans as part of his economic agenda.
On October 19, 2022, the President revealed that his government would build 200,000 affordable houses per annum.
In Nairobi, the President has already launched affordable housing projects in Kibera and Shauri Moyo.
Other parts in the country that have already benefited from the project include Mavoko in Machakos County, Ruiru in Kiambu County and Homa Bay Town in Homa Bay County.
Affordable housing was part of former President Uhuru Kenyatta's Big Four Agenda. Other development pillars were Universal Healthcare, Manufacturing and Food Security.
