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Business Daily Africa: Firm to Complete Sh1.6m Homes for Low-End Buyers in March

Low-income group focused developer Karibu Homes says it expects to complete phase one of its mixed development next month.

The firm is offering 281 units in the first phase of a 1,082-unit project in Athi River off Mombasa Road for sale. The apartments are priced at between Sh1.6 million and Sh5.25 million in the estate worth Sh3 billion. One-bedroom units go for Sh1.6 million each, two-bedroom houses will be sold at Sh3.23 million while three-bedroom units will cost Sh5.25 million.

Ravi Kohli, Karibu Homes co-founder and managing director, said the prices are based on the principle that rent or monthly mortgage payments should not be more than one third of disposable income.

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