HF Group yesterday handed over 248 housing units worth Sh1.9 billion to owners under its Shika Nyumba campaign.
The housing project located along Kamiti Road off Thika Super Highway developed under a joint venture vehicle with Richland Development Limited has two and three bed roomed apartments selling for between Sh8.5 million and Sh9.5 million respectively.
Speaking during the handover ceremony, HF Group CEO Robert Kibaara attributed the quick uptake to the recently launched Shika Nyumba campaign which has helped create widespread awareness of the listed lender’s projects.
‘’Our mission is to empower Kenyans to own property specifically affordable housing with modern features and amenities that improve the quality of life for individuals and communities both now and in the future,’’ Kibaara said.
He added that HF Group is committed to the affordable housing agenda and will continue to deliver on this fundamental human right and make home ownership a reality for the majority of Kenyans
Steven Njoka, chairman Richland Development said that they projected developing phase two of the housing units and urged the government to reduce VAT rate on housing.
The Promotion provides customers with discounts of up to 30 per cent on 700 ready homes, with mortgage financing available from HF. This campaign has seen an accelerated uptake rate with over 100 units sold in the first two months of the campaign.
HF is one of the few players that have invested in the Kenya Mortgage Refinance Company (KMRC), which is set to unlock funds for lending to developers and buyers under the government’s housing plan.
The Group has recently embarked on a business transformation strategy anchored on building a digital bank, expansion into new banking segments and maintaining dominance in mortgage finance.
