Property developer, Leo Capital Holdings, the proprietors of Heri Homes has come up with a new business plan meant to boost home ownership among Kenyan households.
The firm’s equity model dubbed, ‘pooling people together (power of many) under equity model to avoid high-interest cost brought about by debt with an aim of providing quality housing at low cost due to economies of scale,” the company says will encourage home ownership in the country.
Heri Homes acquires a piece of land and invited development partners who buy half of the units at cost where in most cases have to pay a deposit of 20 per cent and balance in twenty-four (24) equal monthly installments – meaning a project’s cash flow is realized from these partners.
“The main purpose of this is in tandem with the Government’s key pillar on affordable housing in order to achieve the Economic blueprint of vision 2030,” said Chief executive Kimotho Kimani while addressing an investor’s forum, adding that the company is equally looking at venturing into limestone mining.
He further said that, “we endeavor to consistently provide serviced land parcels and homes to our esteemed and valued clients so as to secure their financial future.”
Already the company has bought a chunk of land worthy 200 million Kenya shillings in Kajiado County, where there is a wealth of lime, the key component in cement making.
“President Uhuru Kenyatta’s vision for affordable housing requires supports from the private sector and that’s why we’ve partnered with like-minded individuals in a bid to make it happen,” he said.