GulfCap Real Estate has launched sales of its Sh20 billion Starehe Point Affordable Housing Project in Nairobi, the largest in the country so far.
The developer started selling the over 6,000 apartments which were launched by President William on March 6 this year.
According to the firm, the asking prices for one bedroom units starts from Sh1.98 million, two-bedroom Sh3.46 million while three-bedroom units are is sold at Sh4.12 million.
"Over 1,200 people expressed interest to buy the units on the first day of sale of the modern and affordable apartments," GulfCap Real Estate CEO Chris Ochieng said.
He said the project is among those that will help the national government solve the housing deficit in the country.
President William Ruto's administration is targeting to construct at least 200,000 housing units annually, to deal with the housing shortage in the country mainly in urban areas.
Starehe Point which is strategically located is being done through a Joint Venture (JV) between GulfCap Real Estate and the national government, through the State Department of Housing and Urban Design.
The project is a walking distance to the Nairobi Central Business District and other key social amenities, including the new Starehe District Hospital, Pumwani Hospital, Business Bay Square- Eastleigh, Starehe Boys Centre, Pumwani Girls, Gikomba Market among others.
In addition to the 6,000 units being built at Starehe, GulfCap Real Estate is also developing the Sh6billion award winning Buxton Point affordable housing project in Mombasa, which has 2,000 units.
584 units are in the process of being handed over to the respective buyers.
“The pathway to housing should be fair and equitable for all citizens, this is the foundation that helps families support their communities and contribute to building the economy of our country," Ochieng said.
He said the real estate firm remains committed to building sustainable communities, anchored around lifestyle facilities for the lower- and middle-income citizens.