Centum Real Estate has signed up a partnership with NCBA to provide mortgage finance to aspiring home owners. Under the agreement, NCBA will offer preferential mortgage financing to qualified applicants who include both the salaried and the self-employed, and support with portfolio visibility through its branch network to over 5,000 housing units being developed by Centum Real Estate within Two rivers, Thika road and Kasarani.
The developments include villas, townhouses and apartments ranging from Sh2.2 million to Sh44 million. Centum Real Estate’s Managing Director Samuel Kariuki highlighted the continuing relationship between Centum RE and NCBA,“Our strategic focus is to close the housing deficit that is prevalent across Africa. This cannot be accomplished by one institution, it requires a shared vision and goal. NCBA has proven to be a reliable partner time and time again and we are happy to play our part in addressing the housing shortage in Kenya.”
Bridging the housing gap
Commenting on the agreement, NCBA’s Head of Property Finance Stella Mutai said the bank will continue to seek partnerships in order to improve access to housing within the country and the region.
“This is an exciting partnership with Centum Real Estate as we work together to bridge the housing gap across the country and the region,” said Mutai.
She further added that the huge volume of houses that our country needs will require closer partnerships to help meet the growing housing needs in our major cities and towns. Centum Real Estate offers a range of housing products in Kenya and Uganda with a focus on affordable, modern and functional units fitted with the most advanced construction solutions within master-planned communities.
In Kenya, Centum RE has a portfolio of existing projects and is rolling out several new housing developments in support of the Big 4 Agenda of the Government of Kenya. Centum Real Estate is a wholesale market maker both on the supply and demand sides of the housing sector. Its primary interventions are the financing of large-scale affordable housing projects on the country and the supply of long-term finance for mortgages.