A survey by Mizizi Africa discloses its findings – more women are investing in affordable real estate than men.
Single women are fast outpacing single men when it comes to homeownership, declares Mizizi Africa. Data from the company shows single women own 67 per cent of units in four of its affordable housing projects, while single men own less than 10 per cent.
Most of these women are single mothers over 30 mostly with two kids.
Mizizi Africa Homes Ltd is a fast-growing property developing local company that presently offers three-bedroom bungalows in Kiambu County at Ngoigwa, Torah, Kiahuria and Gatundu. They are looking at future projects elsewhere in the country with the aim of growing as a Pan African entity.
“We are increasingly recording more interest in our properties from women. Most single women will tell you they want to create financial security for themselves and they find it in real estate,” said Mizizi Africa CEO, George Mburu.
THE DEVELOPER BEGAN THE PROCESS OF DEPLOYING BIG DATA TO ITS OPERATIONS EARLIER IN THE YEAR TO BOOST THE EFFICIENCY OF ITS OPERATIONS AND OFFER CUSTOM SOLUTIONS TO PROSPECTIVE HOMEOWNERS.
There is no record of a single man owning any unit over the past year. Only a few units have been taken up by married men with young kids. According to the website, you can either buy a home with a one-off sum of Kshs 3.5 million or pay for it at Kshs 3.75 million with a Kshs 1.5 million deposit coupled with ten monthly instalments.
Mburu said the statistics reveal the strategic role women play in advancing the affordable housing agenda, fixing housing gaps in the country and their contribution in the built industry. “As we continue building up information in the industry we begin to understand the level of participation of women in various segments within the construction sector to see which new opportunities we can avail for them within the built environment,” he said.
Celebrated gospel songbird, Betty Bayo, also a client, said an opportunity presented itself in the form of affordable houses. She then thought she could get herself a home to secure the future of her children while solving the hustle of settling house rent every month.
“It’s awesome. Owning a home as a single woman is all about being comfortable and focused. Securing the kids’ future is a priority for every single woman even if they get married later on,” said Bayo.
AS WE CONTINUE BUILDING UP INFORMATION IN THE INDUSTRY WE BEGIN TO UNDERSTAND THE LEVEL OF PARTICIPATION OF WOMEN IN VARIOUS SEGMENTS WITHIN THE CONSTRUCTION SECTOR TO SEE WHICH NEW OPPORTUNITIES WE CAN AVAIL FOR THEM WITHIN THE BUILT ENVIRONMENT.
The developer began the process of deploying Big Data to its operations earlier in the year to boost the efficiency of its operations and offer custom solutions to prospective homeowners. “With a better understanding of our clients, we find new ways to help serve them even better by introducing new custom and targeted products as well as services that are solution-oriented in future,” said Mburu.
Kenya’s leading female professional boxer, Fatuma Zarika, also owns a unit with Mizizi Africa Homes. Her motivation comes from family, the high cost of living in the city and, like Bayo, the financial strain of monthly rent.
“We needed somewhere we can have peace of mind. It is a very fulfilling accomplishment that gives you a sense of confidence and security especially after a very long period of suffering,” said Zarika.
Betty Bayo and Fatuma Zarika are currently brand ambassadors for Mizizi Africa Homes Ltd.
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.