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The National Housing Corporation (NHC) has today unveiled plans to develop 2,820 affordable housing units through a Public-Private Partnership (PPP).
The announcement was made during an investor conference held at Boma Hotel in Nairobi, which was graced by the Cabinet Secretary for Lands, Public Works, Housing, and Urban Development, Hon. Alice Wahome.
The project will take place on 23 acres of land at Stoni Athi Waterfront City in Machakos County, marking a significant milestone in Kenya’s ambitious affordable housing agenda. Hon. Wahome highlighted the critical importance of addressing Kenya’s growing housing deficit, which stands at around 200,000 units annually.
Rapid population growth and urbanization are expected to continue driving the demand for affordable housing in the coming years.
“Building affordable housing units for Kenyans is not only an exciting opportunity but a crucial need. The housing demand continues to grow due to the rapid pace of urbanization and population growth,” Hon. Wahome said.
“This project will go a long way in contributing to the government’s vision of providing affordable housing to every Kenyan.”
The NHC’s initiative is in line with Kenya’s National Housing Policy, introduced in 2016, and the Affordable Housing Programme launched in 2017.
The Government aims to deliver at least 200,000 affordable housing units annually.
With Kenya’s population projected to rise from 50.8 million in 2022 to 55.8 million by 2028, and the labour force expected to increase significantly, the need for sustainable housing solutions has never been more urgent.
Hon. Wahome further emphasized that the Public-Private Partnership framework would provide the private sector with opportunities to invest in the affordable housing sector while balancing risks and rewards.
She also reaffirmed that the affordable housing programme is central to the Government’s Bottom-Up Economic Transformation Agenda (BETA) and forms a key pillar of Vision 2030.
“In partnership with NHC, and with the backing of the PPP Directorate and IFC’s financial expertise, we are laying a strong foundation for this project. It will unlock both financial and infrastructural opportunities for the country,” Wahome added.
By James Nyaigoti