Stanbic Bank Kenya has entered into a strategic partnership with Fanaka Real Estate Ltd to revolutionise the affordable land ownership and housing landscape in the country.
Through this collaboration, the financial institution will offer Fanaka real estate client’s affordable financial solutions on plot purchase and mortgage loans.
Fanaka, a leading real estate company in Kenya, offers affordable land for sale within Nairobi Metropolis. In areas such as Ruiru and Juja along Thika Road, Katani area along Mombasa Road, and Kamulu and Malaa areas along Kangundo Road, all its properties are ready to build and within the Nairobi Metropolis
Affordable Housing Platform
The partnership leverages the strength of Stanbic Bank’s financial expertise and Fanaka Real Estate’s development capabilities to create a robust platform that addresses the critical housing shortage in Kenya.
The platform, which is strategically aligned with the Kenya Mortgage Refinancing Company (KMRC), offers a compelling proposition to potential homeowners:
- Competitive Interest Rates: Stanbic Bank, in collaboration with KMRC, provides attractive interest rates of only 9.5% on home loans, making homeownership more accessible to a wider segment of the population.
- Long-Term Repayment Tenors: The platform offers flexible repayment terms, allowing borrowers to spread the cost of their home over an extended period.
- Construction and Buy & Build Options: Clients have the flexibility to either construct their own homes or purchase ready-built plots from Fanaka Real Estate.
Addressing Housing Deficit
Kenya faces a significant housing deficit, with a large portion of the population unable to afford decent and affordable housing. This partnership between Stanbic Bank and Fanaka Real Estate aims to address this challenge by providing innovative financial solutions and quality housing options.
By offering construction and buy & build propositions, the platform empowers individuals to build their dream homes or acquire ready-to-move-in properties, depending on their preferences and financial capabilities.
This flexibility is expected to drive increased homeownership rates and contribute to the overall growth of the housing sector.
Impact on the Economy
The Stanbic Bank and Fanaka Real Estate partnership is poised to have a positive impact on the Kenyan economy. By increasing access to affordable housing, the partnership is expected to stimulate economic growth through job creation, increased consumption, and improved living standards.
Moreover, the collaboration aligns with the government’s affordable housing agenda, contributing to the realisation of the ‘Big Four’ development agenda.
Conclusion
The partnership between Stanbic Bank Kenya and Fanaka Real Estate marks a significant milestone in the country’s affordable housing sector.
By combining financial expertise with development capabilities, the partnership offers a promising solution to the housing challenge. As the platform gains traction, it is anticipated to drive positive change in the lives of countless Kenyans by making homeownership a reality, with Fanaka saying “we are your ideal real estate partners and Stanbic saying “It can be”
For more information on the partnership or to get started with our property or property financing feel free to reach out to Fanaka Real Estate Ltd through:
Kanyiri Duncan
Email: [email protected]
Tel: 0700 664 669
See Also > Fanaka Real Estate, NCBA Partner to Simplify Home Ownership
