Located on the edge of Nairobi, this project is a collaboration between NACHU, the Tausi Fairtrade Housing Cooperative Society, and Finlays horticultural business, one of the largest exporters of fresh produce and flowers in Kenya. These homeowners previously paid extortionately high rents to landlords to live in poor-quality housing.
This collaboration involved the members of the housing cooperative, all of whom are employees of Finlays, moving to new homes close to their workplace. Finlays paid for all costs related to land, survey, planning, service roads and water and sanitation, and NACHU delivered housing and loan services for the homeowners in the form of micro mortgages. The project consists of 184 fully serviced incremental ‘starter homes’. All homes are built with an option to be extended after residents have paid off their initial loans.
Clients estimated to sit between 1st and 10th percentiles of incomes in Nairobi
|Description||Type||Number Expected||Number Completed||Unit Size (m2)||Sales Price |
|Monthly Cost |
|Loan Length (months)|
|2 rooms & wetcore, 20m2, 137m2 plot (land cost not included)||Basic||184||184||20||528687||9864||60|
|Finance Description||Finance Source||Deposit||Interest Rate (%)|
|2 rooms & wetcore, 20m2, 137m2 plot (land cost not included)||NACHU||100,000||14.0|
Of KES 79,259,716 total investments, KES 3,467,500 was recycled funds from previous project payments
Of $732,923 total investments, $32,064 was recycled funds from previous project payments
Based on exchange rate on 31/12/2020
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Data last updated on 10/03/2021