NCBA Bank has partnered Mi Vida homes to provide mortgage finance for the purchase of apartment units at their Garden City project.
The units being financed will include 1, 2-and 3 bedroom apartments with prices ranging from Kshs. 8.8 to 16.7 million. Phase One construction is very advanced with completion due in March 2022.
Commenting on the signed Memorandum of Understanding (MOU), NCBA Head of Property Finance Stella Mutai noted that NCBA Bank is committed through partnership with institutions, to facilitate affordable long-term mortgage financing thus supporting the agenda of delivering affordable housing to Kenyans by participating in both the supply and demand side.
‘’NCBA is seeking to partner with credible developers who have a notable real estate portfolio locally and internationally and are able to deliver quality middle-income homes on time, in line with Vision 2030, and the governments agenda of offering affordable Housing to Kenyans.” she said.
On his side, Mi Vida homes CEO Chris Coulson said‘’Our aim at Mi Vida is to address the shortage of middle-income housing that families can afford, by delivering a minimum of 3,000 units over the next five years that boast innovative design, modern engineering, trusted construction, quality materials and finishes and of course on time delivery. ‘’
Mi Vida’s project at Garden City, is a first of its kind with the development cantered on green space and family living. Launched in 2019, the project is 50% sold, under construction and on course to be complete by Q1 of 2022.
NCBA customers will further be able to take advantage of property financing to invest in current and future Mi Vida projects.