Centum, NCBA Bank ink mortgage financing deal for 5,000 homes

centum homes

An artistic rendering of residences by real estate firm Centum in Nairobi.

Photo credit: Pool

Investment company Centum and NCBA Bank have inked a deal that will see the lender provide mortgage financing to salaried and self-employed people in the NSE-listed firm's 5,000 housing units.

The homes are being developed by Centum's subsidiary within the Two Rivers development, along Thika Road and in Kasarani. The housing units along Thika Road are in Ruaraka while those in Kasarani are near USIU.

Some units are already complete and ready for occupation while others are at different levels of development.

In an announcement made on Tuesday, Centum Real Estate said that under the partnership, NCBA will offer preferential mortgage financing for the developments including villas, townhouses and apartments ranging from Sh2.2 million to Sh44 million.

“Our strategic focus is to close the housing deficit that is prevalent across Africa. This cannot be accomplished by one institution, it requires a shared vision and goal. NCBA has proven to be a reliable partner time and time again and we are happy to play our part in addressing the housing shortage in Kenya,” Centum Real Estate managing director Samuel Kariuki said.

“This is an exciting partnership with Centum Real Estate as we work together to bridge the housing gap across the country and the region,” NCBA’s head of property finance, Stella Mutai, said.

Applications for the mortgages are already open.