NCBA Bank has partnered with the developer, Mi Vida homes to provide mortgage finance for the purchase of apartment units at their Garden City project.
The units being financed will include 1, 2-and 3 bedroom apartments with prices ranging from Sh8.8 to 16.7 million.
Phase one construction is an advanced stage with completion due in March 2022.
NCBA Head of Property Finance Stella Mutai said that the bank is committed through partnership with institutions, to facilitate affordable long-term mortgage financing thus supporting the agenda of delivering affordable housing to Kenyans by participating in both the supply and demand side.
Mutai added that the bank is seeking to partner with credible developers to deliver quality middle-income homes on time, in line with Vision 2030, and the governments agenda of offering affordable Housing to Kenyans.
Mi Vida homes CEO Chris Coulson said that they are seeking to address the shortage of middle-income housing that families can afford, by delivering a minimum of 3,000 units over the next five years.
The developer’s project at Garden City, is a first of its kind with the development cantered on green space and family living.
Launched in 2019, the project is 50 per cent sold, under construction and on course to be complete by Q1 of 2022.
NCBA customers will further be able to take advantage of property financing to invest in current and future Mi Vida projects.