Mizizi Africa Homes, a real estate firm, is hoping to change the off-plan house market by involving prospective buyers in the construction process.
The company says making homeowners own the entire development process eliminates the risk of missed timelines in project completion and builds customer confidence.
“We commit a definite construction period in our sales agreement and assure our customers of regular progress updates, making them own the entire process,” says Mizizi Africa Finance and Operations Director, Mr George Mburu.
Off-plan developments have recently come under scrutiny 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 Ksh1.5 Million.
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The company targets middle-income buyers with competitive pricing of Ksh3.5 Million for 3-bed-roomed Bungalows in Kiambu County. “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 Mr Mburu.
World Bank puts Kenya’s 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% of the country’s urban households to live in informal settlements.
Quality and affordable homes
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 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.
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