Housing Kenya's Growing Middle Class
Currently in predevelopment by Kenya-based Moad Capital, the 900-unit, $55 million ($61k/unit) masterplan community offers affordable homeownership opportunities for moderate income working professionals in the suburbs of Kenya’s capital, Nairobi. Phase 1 of the three-phase project will begin the end of 2021 and include completing the site improvements and on-site amenities, and the first of six, 20-story, 160-unit towers. The housing development will be built using prefab panels, assembled on-site for a quick, predictable, and cost-effective construction process. In addition, the building will be built to EDGE Green design standards, a sustainable building incentive program by the World Bank to encourage more investment in housing minimizes environmental impact – notably, 20% less lifetime energy consumption, 20% less water, and 20% less overall construction impact. Moad Capital is early-stage developer, part of Nairobi Stock Exchange’s Ibuka Accelerator Program.
Related Trend: Kenya’s first green bond raised $42.5 million in January 2020, listed on Nairobi Securities Exchange and London Stock Exchange, issued by Nairobi-based property developer, Acorn Holdings, to build student accommodation (story).
N/A - Site Built
5.4 acres SF