Centum Real Estate, a subsidiary of Centum Investment Company Plc, has announced plans to construct over 10,000 housing units across the East African region, supported by a new financing partnership with KCB Bank.
The real estate developer, known for its projects in Vipingo, Nairobi, and Entebbe, will leverage the deal to strengthen its property portfolio and expand access to homeownership.
Speaking during the signing of the agreement, KCB Director of Mortgage Business Caroline Wanjeri said the partnership will help close the housing gap by offering flexible and sustainable financing solutions.
“The partnership aims to bridge the housing gap with flexible, sustainable home financing solutions by enhancing end-user financing options for customers seeking to purchase units within Centum Real Estate projects. It will also support Centum with development financing to deliver quality, modern homes,” Wanjeri said.
The deal will offer a suite of banking solutions, including end-user financing to facilitate homeownership and debt financing to support Centum’s development activities.
The announcement comes as the Kenyan government pursues an ambitious plan to deliver 500,000 affordable housing units nationwide, aiming to improve access to quality housing while creating employment opportunities.
Centum Real Estate Managing Director Kenneth Mbae highlighted the company’s focus on serving a diverse market, especially investors seeking rental income.
“Our developments are designed to serve a wide market, with a majority being investors. A prime example is our Two Rivers development, where we’re positioning the project to meet the rising demand for rental properties, particularly from the United Nations and diplomatic community,” Mbae said.
“With the expansion of the UN’s operations in Nairobi, we expect increased demand for high-quality housing, which will offer attractive, dollar-denominated returns to investors and fuel the region’s real estate growth.”
