Real estate developer Mi Vida Homes, has signed a strategic partnership with the banking arm of HF Group Kenya in a move that will see potential home buyers experience a holistic homeownership ecosystem beyond the usual sales.
- •The two real estate players plan to create an ecosystem that goes beyond development and financing, involving such elements as investment opportunities and property value enhancement.
- •The deal will see home buyers get upto 95% financing at a fixed rate from Housing Finance Company (HFC).
- •Mi Vida has been a key player in the Kenyan real estate market for six years, while HFC is the full-service banking arm of the listed HF Group.
“By combining HF Group’s financial expertise with our commitment to high-quality, sustainable housing, this partnership is poised to set new benchmarks in the market, addressing key industry challenges and creating more accessible homeownership opportunities,” Mi Vida Homes Chief Executive Officer Samuel Kariuki says.
“Unlike traditional developer-financier partnerships that focuses only on selling homes, our MoU aims to create a full-fledged ecosystem that includes financing, home advisory, investment opportunities, and even long-term property value enhancement”, he explained.
Kariuki noted that HF Group’s extensive market presence and long-standing industry expertise provide access to a wider client base. He emphasized that the real estate sector is seeking strong institutional partnerships that not only enhance credibility but also leverage complementary strengths to deliver forward-thinking solutions.
“We will provide financial assistance of up to 95 percent of the purchase price at a fixed rate of 9.5% for a period of up to 20years. This will allow many people to afford the mortgage as it a good incentive for them to buy the property rather than renting”, HFC’s Managing Director Peter Mugeni explained.
According to HFC, the partnership with Mi Vida Homes will provide a joint exposure of the housing units into the market and the ability for those who intend to own them go through the ownership journey hassle free by providing them with financial assistance.
Since its launch in 2019 as a joint venture between Actis and Shapoorji Pallonji Real Estate (SPRE), Mi Vida has built more than 3, 000 middle income housing units. In August 2024, the Capital Markets Authority licensed the developer as a Real Estate Investment Trusts (REITs) manager.