KCB, Superior Homes ink deal to smoothen property financing
Superior Homes Head of Sales Clive Ndege, CEO Shiv Arora, KCB Bank Senior Manager, Green Financing & Sustainability Alois Ngure and Head of Projects and Investments Kenneth Luusa during the signing of an MOU between KCB Bank and Superior Homes that seeks to enable homeowners to access the KMRC mortgage facility at 105 per cent.
Superior Homes Kenya has entered into a deal with KCB Bank Kenya where the two entities aim at bridging the gap between property development and financing to boost uptake of real estate products.
In an update, Superior Homes Kenya investors will access tailor-made mortgage products from KCB Bank. The house loans are tailored to support the mid-income and premium housing market segments, which aligns with their shared vision of empowering more Kenyans to achieve homeownership while driving sustainable urban growth.
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Under the deal, KCB Bank will offer structured repayment plans, longer tenure options, and customer support to guide homebuyers through the application and approval process.
The partnership comes at a time when Kenya’s real estate sector continues to experience significant economic growth, currently contributing 6.7 percent to the country’s Gross Domestic Product (GDP), up from 4.1 percent in 2020.
Despite this growth, majority of Kenyans (88.6 percent) still construct their homes over a long period, relying on personal savings rather than mortgage financing, due to limited access to structured financial solutions.
This collaboration aims to bridge that gap by unlocking flexible financing for existing and potential homeowners looking to buy into Superior Homes developments.
Superior Homes CEO Shiv Arora noted that the partnership marks a transformative milestone in the company’s mission to offer communities of value to their investors.
“Our goal as a company is to create and drive the uptake of sustainable master-planned communities. Whether you are a first-time buyer, an investor, or living abroad, this partnership brings you one step closer to being a homeowner in a financially sustainable way, while also contributing meaningfully to the country’s housing agenda,” said Arora.
“Through this partnership, we are looking to offer the Kenya Mortgage Refinance Company (KMRC) mortgage facility which allows for 105 per cent borrowing. Not only are we will be offering loan facilities but also cover some of the closing costs which allow investors ease in their transition into homeownership,” said KCB Group Head of Projects and Investments Kenneth Luusa.
