The company broke ground for the 25-unit modern housing project at Kimunyu over the weekend.
- Peacock 2 will have 25 units when complete with a unit going for Sh6.5million in cash price.
- The firm has however decried high cost of construction materials due to the return of VAT and dollar fluctuations that has resulted in weakening of the shilling.
Real Estate firm, Mizizi Africa Homes will deliver its Peacock Estate Phase 2 project within a year, the company has said.
Construction of the 25-unit modern housing project at Kimunyu town, along Kenyatta road exit 14, off Thika Superhighway, begun with the ground breaking over the weekend.
“We are now seeing people rushing to snap up few affordable housing units available in the market.
Mizizi Africa Homes chief executive George Mburu.”
Peacock Estate Phase 2 is the second project to be unveiled by the developer in less than two months to underscore the rising demand for affordable housing units in the country.
According to chief executive George Mburu, demand for affordable units continues to rise with investment in homes driving the real estate market.
“We are now seeing people rushing to snap up few affordable housing units available in the market. Kenyans are also looking at units with modern designs that are also within their budget. Mizizi Africa Homes is responding to this demand,” Mburu said.
The latest project is four-bedroomed maisonette, all-ensuite with a spacious master bedroom, a bath tab and a walk-in closet.
The new design comes with a flat roof and an extra room for either home office or library to support working from home especially during the pandemic, management notes.
Other key features include a spacious sunken lounge, dining area with large windows for natural lighting, a provision for solar power and an offer for free internet for a year.
“Listening to customers and being dynamic with changes in the market have been our greatest source of inspiration in structuring designs to meet clients’ expectations,” said Mburu.
Peacock 2 will have 25 units when complete with a unit going for Sh6.5million in cash price or Sh 6.75 for those opting for a 10 -month installment payment plan upon depositing Sh 3 million.
Peacock 2 will cost over Sh100 million to put up and will take about 10-12 months to complete and handover to owners.
Meanwhile, Mburu has decried high cost of construction materials due to the return of VAT and dollar fluctuations that has resulted in weakening of the shilling.He said cost of cement, nails, tiles have risen significantly.
“We are coming up with new house designs for the subsequent projects to adopt flat roofs to help us off-set the rising cost of construction. Roofing could take almost half of the total construction costs,” he noted.
Mizizi Africa Homes Ltd is a leading property developer company in Kenya that offers homes & investment solutions that are pocket-friendly, high quality and timely delivery.