KCB, Centum Real Estate team up to boost homeownership
KCB Bank Kenya and Centum Real Estate Limited have partnered to make home ownership more affordable and accessible to Kenyans through structured financing mechanisms.
Lender KCB and Centum Real Estate have struck a deal to help homebuyers access finances in a move aimed at accelerating the rate of homeownership in the country.
In a joint statement on Monday, May 5th, the two entities said that KCB will be offering a number of financing plans to enhance homeownership in addition to debt financing to help Centum Real Estate to develop "modern, well-planned housing units."
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"Our approach to housing finance is multifaceted, combining innovative mortgage solutions with a strong focus on sustainable development and thereby working with like-minded partners to offer affordable and accessible solutions to Kenyans and address the nation’s housing needs," explained KCB Director Mortgage Business, Caroline Wanjeri.
She added, “The partnership aims to bridge the housing gap with flexible, sustainable home financing solutions by enhancing end-user financing options for customers seeking to purchase units within Centum Real Estate projects, while also supporting Centum with development financing to drive the delivery of quality, modern homes.”
According to Mr. Kenneth Mbae, Managing Director of Centum Real Estate Limited, the developer said their homes are, "designed to serve a wide market with predominantly being investors. A key example is our Two Rivers development, where we are priming the project to cater to the growing demand for rental properties, particularly from the United Nations and diplomatic clientele."
"With the expansion of the UN's operations in Nairobi, we anticipate significant demand for high-quality housing, providing strong dollar denominated returns for our investors and contributing to the continued growth of the region’s real estate market.”
The fresh partnership will see the construction of over 10,000 housing units across East Africa, complementing Centum Real Estate’s vision of delivering master-planned, sustainable developments.
At the moment, Centum Real Estate has several projects in across the region including in Nairobi and in Entebbe, Uganda.
In Nairobi, Centum Real Estate has put up developments such as Cascadia, Mzizi, Riverbank, and The Loft around its signature commericial hub: Two Rivers Mall.
