Centum Real Estate, a fully owned subsidiary of Centum Investment Company Plc, has recently entered into a strategic partnership with Safaricom Sacco Ltd.
This collaboration aims to support Safaricom Sacco members in acquiring residential homes in key locations such as Nairobi, Kilifi, and Entebbe, Uganda.
Centum Real Estate offers properties in various developments, including:
- Two Rivers Development, Gigiri: Situated on a sprawling 106-acre land, offering homes priced from Sh4.2 million to Sh45 million.
- Elmer One Development, Kasarani: Covering 265 acres, providing properties ranging from Sh2.5 million to Sh6.3 million.
- Vipingo, Kilifi: A vast 10,254-acre development, offering homes priced from Sh1.98 million to Sh19.95 million.
- Pearl Marina, Garuga, Entebbe: A 389-acre lakefront city where homes are available from $56,000.
Under the Memorandum of Understanding (MoU), Safaricom Sacco members are eligible for exclusive benefits:
- Financing Options: Safaricom Sacco is offering up to 100 percent financing for properties under development by Centum RE. Members can avail mortgages through Kenya Mortgage Refinance Company (KMRC)-backed home loans.
- Interest Rates: For homes valued at Sh8 million and below, the interest rate is 8 percent per annum on a reducing balance for a maximum period of 25 years. Homes valued above Sh8 million will be financed at a rate of 12 percent per annum on a reducing balance for a maximum period of 20 years.
Centum Real Estate’s Role
Centum Real Estate stands out as a leading developer in the region, offering a diverse portfolio that caters to different segments of the market. Their offerings include affordable housing, mid-market, and high-end properties.
Addressing Kenya’s Housing Deficit
With Kenya facing an annual housing deficit of 200,000 units, Centum RE and partners like Safaricom Sacco are playing a vital role in bridging this gap. By delivering affordable housing options and providing essential financing, these collaborations contribute significantly to promoting homeownership in the country.