Haco Industries & Centum RE partner in affordable housing project in Kasarani
Above from left to right is Charles Hinga – PS for Housing and Urban Development, Prof Mutahi Ngunyi – Technical Assistant to H.E the President, and Mary-Ann Musangi – MD Haco Industries during the ground breaking ceremony of the Elmer One Project, an affordable housing project that will benefit from land contribution made by Haco Industries.
HACO Industries, a landowner in the Kasarani neighborhood is proud to be able to play a part in supporting the government’s efforts to provide affordable housing in Kenya. Through its partnership with Centum RE, it has provided the land for affordable housing in Kasarani. This was a vision that was very dear to the two companies’ late Chairman, Dr. Chris Kirubi and that is how the Elmer One project came to be.
The Government of Kenya’s inclusion of Affordable Housing under the Big 4 agenda is a recognition of the criticality of providing decent and affordable homes to Kenyans, as a core part of Kenya’s development. Affordable housing supply in key urban centres has been fragmented with very few institutional investors participating, leading to a significant deficit, estimated at over 2 million units. A key challenge for affordable housing in major urban centres has been the prohibitive cost of land.
The Elmer One project was launched on Monday 27th September, 2021 at a ground breaking ceremony officiated by Charles Hinga – PS for Housing and Urban Development. The PS was hosted by Mary-Ann Musangi the MD Haco Industries, in the company of Mr. Samwel Kariuki the MD Centum Real estate.
The Elmer One initiative has been recognized and endorsed by the State Department of Housing and Urban Development as a strategic project in the Affordable Housing Program. It will be able to serve people seeking housing in Nairobi and is ideal for consideration by employees of companies in the neighbouring Kasarani area and this includes Haco’s employees. In line with Haco’s aim to enhance employee welfare, Haco staff members at all levels are encouraged to invest in their first homes in a bid to enable them to establish a stable base.
The area is also accessible to other potential buyers who can easily commute back home from other areas of work owing to the adjacency of the project to a good road network including the Thika Super Highway. Elmer One will also be suited to senior civil servants to purchase through the Civil Servant Mortgage Scheme and State Officers Mortgage Scheme.
Haco Industries and Centum RE remain focused on creating sustainable solutions for the Mwananchi.