Tungo Place

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).

Overview

900 units	2,300 bedrooms
20 stories Highrise	5.4 acres SF Footprint
800,000 Total SF	350 SF/Occupant

Proposal Origins

Designed Nairobi, Kenya

Produced Nairobi, Kenya

Located Nairobi, Kenya

Design

Construction Type	Site Built
Architecture Style:
Utilities
Approvals
Designations
Sustainability
Inspiration

Budget

Total Unit Materials
Total Unit Labor
Total Unit Delivery
Onsite Estimates
Additional Costs
Total
$ / Unit	$61k / unit
$ / Bedroom

Quoted by:

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Additional Info

Marketing Brochure

0:00 Hook

0:52 Introduction / Company Background

1:33 Kenya housing crisis

1:43 Location within Nairobi

2:47 Site layout

3:28 Floorplan that is building community

4:15 Design: Common areas

4:32 Finance: Construction costs

4:50 Timeline

5:14 Finance: Kenya’s high financing costs

5:40 Creating affordability with the financing program, “25”

7:11 Sales pipeline

8:05 Green design: Word Bank’s EDGE Certification Program

9:17 Company mission

Innovations

• Bonds
• Sustainable Design
• Missing Middle