Housing Finance is set to embark on the construction of residential apartments along the Thika Superhighway.
The Sh5 billion project is set to sit on a 24.5-acre piece of land and will see a total of 1,520 2 and 3 bedroom apartment units put up.
According to the company's development and investment Executive Director James Karanja, the project is among the strategies to boost its development portfolio and also bring aboard the Clay Works Company who are the legal owners of the land.
“The first phase will see the construction of 560 units, the second phase 480 units and the third phase will also see the development of another 480 units,” he said as quoted by the Star.
The project will be carried out with the middle-class population in mind as the 2-bedroom apartments will cost about Sh6.5 million while the 3-bedroom ones will go for about Sh7.5 million.
Buyers will also be allowed to let out the units after purchase and enjoy returns
The first phase of the project is set to be complete by late 2019.