KCB Bank Kenya will launch its annual property bus tour on Saturday, 30th April, 2016 in Nairobi as it sets focus on low cost housing through business lines diversification.
The move is part of plans to expand its offering by actively participating in the lucrative property development market. To support these efforts, KCB plans to launch the Property Center in June this year, which will host its construction arm.
KCB Mortgage Director Sam Muturi said that the Bank is keen to tap into the rising demand for affordable housing by raising cheap offshore seed funds and leveraging on modern technology to help pass pricing benefits to the mortgage end buyer.
“We are ready to broaden our wings to the existing opportunities to house the majority Kenyans who feel left by the high cost of housing. The bank will also continue to leverage on partnerships with like-minded corporations both locally and internationally to ensure we address the issue of cost of housing,” said Muturi.
In February this year, KCB led a delegation of 30 East African developers to a successful Brazil property tour aimed to broaden business scope and exposed them to modern architectural designs which they will transfer to Kenya. The new technologies will help build houses priced at Kshs1 million to Kshs 3 million catering for the deficit in housing.
According to the latest housing price index from the Kenya Bankers’ Association, released at the end of January, average housing prices edged up by just 1.14% in the last three months of 2015. This year, real estate investors are likely to ride on the growing demand for residential and commercial developments in the country, thanks to urbanisation and growth of the middle-class.
KCB has other initiatives to help boost their book and offer an enhanced product proposition. These efforts has seen the lender partner with Chloride Exide, East African Cables, and Crown Paints aiding customers’ to access building accessories at discounted prices.
The Nairobi Property Tour will be flagged of at KICC Comesa ground from 7:00 am. Potential customers will be able to view houses and land readily available for sale.
| ROUTE 1 | ROUTE 2 | ROUTE 3 | ROUTE 4 | ROUTE 5 | ROUTE 6 |
| Average Price Range 5M – 10M | Average Price Range 5M – 10M | Average Price Range 10M – 25M | Average Price Range 6M – 14M | Average Price Range 7M – 18M | Average Price Range From 300K and Above |
| Athi River | Rongai | Lavington | Mombasa Road | Kiambu Rd | Kangundo |
| Kitengela | Kiserian | Kilimani | Imara Daima | Thika Rd/ | Joska |
| Kisaju | Ngong | Kileleshwa | Syokimau | Ruiru | Kamulu |
| Kikuyu | Westlands | Mlolongo- -Athi River | Thika | Utawala |
