Housing Finance Group has launched phase two of its Precious Gardens development located at Riruta estate off Naivasha Road, Nairobi. This follows the successful completion and sale of phase one of the project.
The housing developer and mortgage financier says it is in line with the group’s key focus through its development and investment subsidiary, HF Development and Investment (HFDI) — a subsidiary of HF— to scale up on property development and provide affordable housing.
The new phase will see the construction of 152 executive three-bedroom apartments set in two blocks, whose construction is expected to take about 22 months with units ready for occupation from April 2019.
The three-bedroom apartments starts from Sh9 million, have a master bedroom ensuite and have well-fitted kitchens with ample balconies and wash areas.
The executive director of HFDI, James Karanja said the group’s confidence of a positive uptake of units under the project has been drawn from the success of phase one. “The positive outcome recorded in the first phase is a true testament that this is indeed a worthwhile investment. The units under phase one are fully sold out with a marked capital appreciation of 25 per cent,” said Karanja.
Once complete, the project will boast of on-site borehole to complement county water supply, solar water heating, two lifts on each block, ensuite master bedrooms, ample balconies and laundry areas. Other key features are fitted kitchens, electric fence and landscaped parking areas.
The project title is ready and buyers will receive a complete sales pack from the offer letter all the way to the lease document ensuring occupancy immediately after completion.
Other recent or ongoing projects the group has had are the Komarock Heights, Richland Points and Komarock Phase 5B. Ground breaking for the Komarock heights was done in 2015 where President Uhuru Kenyatta was the chief guest. These are 1272 two- and three-bedroom apartments.