NCBA partner with Mi Vida to offer affordable mortgage financing.
By Douglas Muriithi
NCBA Bank partnered with fully capitalised 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 Kshs. 8.8 to 16.7 million. Phase
One construction is very advanced with completion due in March
Commenting on the signed Memorandum of Understanding (MOU),
NCBA Head of Property Finance Stella Mutai noted that NCBA 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.
‘’NCBA is seeking to partner with credible developers who have a
notable real estate portfolio locally and internationally and are able
to deliver quality middle-income homes on time, in line with Vision
2030, and the governments agenda of offering affordable Housing to
Kenyans.” she said.
On his side, Mi Vida homes CEO Chris Coulson said ‘’Our aim at Mi
Vida is 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 that boast innovative design, modern engineering,
trusted construction, quality materials and finishes and of course on
time delivery. ‘’
Mi Vida’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% 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.