Property developer, Mi Vida Homes, has commenced construction of its three key projects, Amaiya and 237 GC in Nairobi’s Garden City Development and KEZA in Riruta, as it sets its eyes on a mixture of investors and homeowners.
“Mixed-use developments, exemplified by our successful projects at Garden City, have proven to be increasingly appealing to tenants compared to standalone developments,” Samuel Kariuki, CEO Mi Vida Homes, said, “They boast impressive returns, including an up to 13% yield across completed projects.”
- KEZA is an 1,150-unit affordable housing project in the Riruta area of Nairobi County with a mix of studio, one-, two-, and three-bedroom apartments.
- Amaiya is the second phase of the Developer’s mid-market product within Garden City and follows the completion of Mi Vida’s first project within the precinct. The project comprises of 1-and-2-bedroom duplexes and three-bedroom units.
- 237 GC is a 640-unit affordable housing project within Garden City community, with a mix of studio, one- and two-bedroom apartments.
“The projects are fully funded, and the current phases are more than 80% presold. I am confident that they will be delivered on time, in meeting our customers expectations”, the CEO added.
237 GC includes a component of bulk institutional offtake that was recently announced by Mi Vida. “237 offers high-quality housing within Garden City, complemented by a diverse array of amenities. Life in this community grants you access to a variety of essential services, including supermarkets, delis, over 100 retail shops, restaurants, as well as financial and health facilities,” Kariuki said.
Mi Vida is a joint venture between Actis, an investor in growth markets across Africa, Asia, and Latin America, and Shapoorji Pallonji Real Estate, the real estate arm of one of India’s largest construction conglomerates.