Genghis Capital and Paradigm Projects have partnered to help homebuyers purchase residential houses in Nairobi without standard loans.
Through a rent-to-own home solution called Home Ownership Made Easy (HOME), buyers will be able to obtain a long-term purchasing facility from the developer, with monthly repayments priced at equal or close to prevailing rental rates in the target areas.
Genghis Capital is handling the financing through clients while Paradigm Projects is handling the technical issues.
The development is expected to start in July in Dagoretti, Uthiru, Kikuyu and Ngong Road.
Genghis Capital chief executive Geoffrey Gangla on Wednesday said property ownership requires investors and developers to be innovative in enabling home purchases at reasonable rates.
“Majority of people seeking home ownership do not have enough money to make an outright purchase or the down payment required which are usually steep. HOME is a solution that addresses the interdependency between developers, investors and buyers allowing more people affordable home ownership,” said Mr Gangla.
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