Sh5 billion housing for students coming up
CEO and Director of Student Factory Africa Limited Christopher Osore (left) and Chairman Red Betonbouw B.V. Enes Djerlek after SFAL partnered with Dutch EPC to build student housing in Kenya worth Sh5 billion.
What you need to know:
- The brand new student hostel will consist of 10 five-storey buildings providing a total capacity of about 4,500 beds.
- Student housing has gained traction in Kenya in recent years with attractive returns and a captive market.
Student Factory Africa is set to put up a Sh5 billion student residence in Karen Nairobi over the next two years.
The firm has partnered with Kenya Conference of Catholic Bishops to launch the 4,500-bed hostel at the Catholic University.
Student Factory Africa Limited CEO Christopher Osore said planning has been completed successfully and the partnership will now proceed to the construction phase.
"The brand new student hostel will consist of 10 five-storey buildings providing a total capacity of about 4,500 beds in different room typologies. All entities are committed to finalise the construction of the project within 24 months,” Mr Osore said.
Affordable units
Student housing has gained traction in Kenya in recent years with attractive returns and a captive market.
Available student housing in Kenya stands at 300,000 against a university enrolment of 520,900 as at 2018, excluding technical colleges, according to Education ministry.
Most of the available private student housing stock lacks in quality and amenities that are expected of such accommodation.
Student Factory is tapping into the demand for student accommodation with affordable units and additional amenities such as gyms, a large café, well-appointed study areas and chapel to cater for students’ spiritual needs.
