Firm bets on risky off-plan housing market

Friday, November 1st, 2019 06:10 |

Property firm, Mizizi Africa Homes is looking to change the narrative in off-plan house market with a commitment to involve prospective buyers in the entire construction process and offering competitive home  prices.

The company says by making homeowners own the entire development process, it eliminates the risk of missed timelines in project completion and builds customer confidence.

“We commit a definite construction period in our sales agreement and assure our customers of regular progress updates, making them own the entire process,” says Mizizi Africa Finance and Operations Director, George Mburu.

Off plan development has recently come under criticism due to missed deadlines, poor quality of houses, lack of accurate information on the final product and fraud.

Mburu says Mizizi will instead guarantee buyers a plot and title deed for its off-plan units upon paying an initial deposit of Sh1.5 million. The developer targets middle-income buyers, offering  three-bed-roomed units  in Kiambu county at Sh3.5 million.

Reselling homes

 The government, through its ambitious Big Four Agenda, has singled out affordable housing as one of its key pillars to drive the economy to double-digit growth. Under the plan government seeks to deliver 500,000 units by 2022. 

“We are committed to the affordable housing agenda and will continue to design quality and affordable homes to help the State achieve this goal,” said Mburu during the ground-breaking ceremony of Penguin estate.  

The firm also offers to re-sell complete units on behalf of buyers upon completion of the project with guaranteed returns of at least Sh1 million.

Mizizi Africa Homes offers homes and investment solutions that are pocket-friendly, high quality and timely. Currently, it is offering three bedroomed bungalows in Kiambu county at Ngoigwa, Torah, Kiahuria and Gatundu, with other projects coming soon in other parts of the country with the aim of moving across other Africa countries.

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