Real estate firm, Mizizi Africa Homes is looking to change the narrative in the off-plan house market with a commitment to involve prospective buyers in the entire construction process and offering competitive prices on properties.
The company said by making homeowners own the entire development process, it eliminates the risk of missed timelines in project completion and builds customer confidence in the market.
“We commit a definite construction period in our sales agreement and assure our customers of regular progress updates, making them own the entire process,” said Mizizi Africa Finance and Operations Director, George Mburu.
Off-plan developments have recently come under pressure due to missed deadlines, poor quality of houses, lack of accurate information on the final product and developer trust issues.
Mizizi guarantees buyers a plot and title deed for its off-plan units upon paying an initial deposit of Sh 1.5 Million.
The company targets middle-income buyers with competitive pricing of Sh 3.5 Million for 3-bed-roomed Bungalows in Kiambu County as it positions to play a pivotal role in fixing the country’s housing deficit with affordable houses.
Similar projects in the county go for a low of Sh 5 Million and above per unit.
“Our mission is to empower more Kenyans to own quality and affordable homes. This is a good opportunity for first-time buyers looking for modern features and amenities that powers their lives,” said Mburu.
World Bank puts Kenya’s shortage for low-cost housing at 2 million units, with 200,000 houses needed each year to plug in the deficit.
Only 50,000 units are constructed annually, leaving 61 per cent of the country’s urban households to live in informal settlements.
The government, through its ambitious Big Four Agenda, has singled out affordable housing as one of its key pillars to drive the economy to double-digit growth.
Under the plan, the government seeks to deliver 500,000 units by 2022.
“We are committed to the affordable housing agenda and will continue to design quality and affordable homes to help the government achieve this goal as we improve the lives of our clients,” said Mburu.
The company also offers to re-sell complete units on behalf of buyers upon completion of the project with guaranteed returns of at least Sh 1 Million and hand over all proceeds.
Courtesy of The East Africa Business Times Magazine