The developer is already in two joint ventures two years into its revival after 13-year dormancy, raising HF's presence in the housing supply chain and boosting mortgage sales.
"We are negotiating about six potential joint ventures with big land owners and hopefully we'll close at least three in the course of this year," said
The lender could not disclose the particulars on the joint ventures in the pipeline as yet, only saying they are "bigger" than the two it has entered into so far.
"The negotiations take a bit of time because they involve families, due diligence, and working on approvals," managing director
HF's first JV was a Sh1.2 billion development in Riruta Satellite - christened
Kahawa Downs on Thika superhighway is the latest where it broke ground in November. It is valued at Sh1.5 billion and will offload 220 units of two- and three-bedroom. The homes are on offer for Sh5 million and Sh6 million respectively.
"This project is already more than 90 per cent sold-out in just over two months since we broke ground. This is testament of Kenyans' trust in us and the pent-up demand in the market," Ireri said.
The lender aims to be "a one-stop-shop" for housing solutions, he said, hence its involvement in the entire property supply chain.
KBS will break ground for a new development within two months on a 7.5-acre parcel of land in
The mortgage lender said it has diversified its funding sources to include bonds and sovereign debt. It is preparing to offer the first tranche of a Sh20 billion seven-year bond approved by the
It has foreign currency loans from the
Sovereign debt has enabled it to start lending foreign currency mortgages - euro, dollar and sterling pound - since last October.
"We have a pot of
Under the new product, it has already lent
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