Malaa

  • Status: Complete
  • People Housed: 873
  • Country: Kenya
  • City: Nairobi
  • Partner: NACHU
  • Year Approved: 2015
Total Invested
KES 275,408,562
Average Sales Price
KES 1,350,000
Total Invested
$2,546,731
Average Sales Price
$13,426
Delivery of Homes
Total Expected
Completed
Basic
180
180
Cross Subsidy
48
48
Project Overview

This project involved the construction of 228 semi-detached units, built in response to high demand for affordable housing in the area. The site chosen sits in close proximity to Kangundo Road, on the Eastern fringe of Nairobi and adjacent to previous projects that were also developed in partnership with NACHU.

A 10 acre parcel of land for the project was purchased and then subdivided into plots for housing, water and sanitation services. It incorporated a mixed design that included 120 core and 60 core+1 houses, with a further 48 core+2 houses that were sold on the open market to subsidise construction. The majority of clients chosen for this project were young professionals earning between USD $450 to $750, as houses currently being offered in the market are beyond their affordability. All 180 of the cooperative beneficiaries involved were advanced with micro-mortgage loans by NACHU, to be paid back over 5 years.

Due to extra efficiency achieved during construction, Malaa was completed a month ahead of schedule, which allowed for increased profit and freed up NACHU resources for other projects.

228
Homes Completed
182 Homes Sold
182
Homes Occupied
228
Connected to Electricity
228
Connected to Water and Sanitation
3
Nearest Employment Area
3
Nearest Health Centre
3
Nearest Primary School
3
Nearest Bus Stop
3
Nearest Market
3
Nearest Secondary School

Client Data

Displayed In
Client Monthly Household Incomes

Clients estimated to sit between 31st and 40th percentiles of incomes in Nairobi

Mean
51,800 KES
479 USD
40th percentile at year of occupancy KES 56,465
40th percentile at year of occupancy $522
Household Demographic Data
Household Size
4.80
Proportion Female
60.0
Proportion Children
50.0
Proportion Elderly
5.0
Housing Information
Description Type Number Expected Number Completed Unit Size (m2) Sales Price
(Local Currency)
Monthly Cost
(Local Currency)
Loan Length (months)
2 rooms & wetcore, 27m2, 137m2 plot Basic 120 120 27 1250000 23268 60
3 rooms & wetcore, 32m2, 137m2 plot Basic 60 60 32 1550000 28853 60
4 rooms & wetcore, 45-55m2, 137m2 plot Cross Sub 48 48 52 - 36643 120
Finance Description Finance Source Deposit Interest Rate (%)
2 rooms & wetcore, 27m2, 137m2 plot NACHU 250,000 14.0
3 rooms & wetcore, 32m2, 137m2 plot NACHU 310,000 14.0
4 rooms & wetcore, 45-55m2, 137m2 plot NACHU 590,000 14.0

Project Finances

Displayed In

Investments — Reall to Affordable Housing Partners

Total Project Investments
KES 275,408,562
$ 2,546,731
Loans
KES 275,408,562
$ 2,546,731

Of KES 275,408,562 total investments, KES 75,511,325 was recycled funds from previous project payments

Of $2,546,731 total investments, $698,261 was recycled funds from previous project payments

Based on exchange rate on 31/12/2020

Funds Lent by Partners to Households
Funds Lent by Partners to Households
KES 91,648,000
$ 847,478
Funds Repaid by Households to Partner (to date)
Funds Repaid by Households to Partner (to date)
KES 33,148,418
$ 306,527

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Data last updated on 10/03/2021