Situated on the edge of Nairobi, this project serves people from three housing cooperatives who earn their income at a local market where they operate small businesses ranging from groceries, food kiosks and second hand clothes. Units consist of stand-alone homes, equipped with water, sanitation and energy with the opportunity to extend in the future. Prior to moving to their new homes, clients were living in slums and were vulnerable to the threat of eviction and the negative consequences of living in substandard housing.
The project site is located across the road from Ngumbo Mbega, a previous Reall-funded housing development. Since completion, Royal Phase 2 and Gitongu Starehe were also developed, with Royal Phase 2 on the same site and Gitongu Starehe adjacent to it. This process of developing multiple projects in the same locations allows neighbourhoods to grow and communities and services to flourish.
To finance the sale of the homes, NACHU lent the capital to the housing cooperative itself as members were not able to access housing finance from traditional banking institutions. All members of the cooperative have a proven track record of saving and reimbursing money with NACHU and were assessed on their capacity to repay loans.
Clients estimated to sit between 31st and 40th percentiles of incomes in Nairobi
|Description||Type||Number Expected||Number Completed||Unit Size (m2)||Sales Price |
|Monthly Cost |
|Loan Length (months)|
|1 room & wetcore, 16m2, 137m2 plot||Basic||49||49||16||529361||10562||60|
|6 rooms & 2 wetcore, 60 m2, 137m2 plot (Demonstration house)||Cross Sub||1||1||60||-||41869||60|
|Finance Description||Finance Source||Deposit||Interest Rate (%)|
|1 room & wetcore, 16m2, 137m2 plot||NACHU||105,872||14.0|
|6 rooms & 2 wetcore, 60 m2, 137m2 plot (Demonstration house)||NACHU||429,878||14.0|
Based on exchange rate on 31/12/2020
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Data last updated on 10/03/2021