Muzi Salama Ground Breaking
IHS Breaks Ground on “Muzi Salama” Affordable, Green Housing Project in Tilisi
IHS Kenya, a Southern African Private Equity fund manager, has today launched a green affordable housing development located within the Tilisi Masterplan Development, Limuru.
The affordable housing project, dubbed “Muzi Salama”, will comprise 240 green units of two and three-bedroom apartments secured within a gated estate. Additionally, Muzi Salama will include children’s play areas, ample parking, and reliable water and power supply. The development is set on 2.5 acres.
IHS Kenya Managing Director-Capital and Investor Relations, Peter Mayavi, said that the Muzi Salama development will address the growing demand for affordable housing that offers residents quality living that is conveniently located.
“Muzi Salama is designed to foster a sense of community by ensuring that the units are affordable, comfortable, and is complemented by amenities that will give users quality urban living. We also chose to develop in Tilisi due to its strategic location that is served by major transportation nodes.”
Mr. Mayavi added that Muzi Salama will incorporate the International Finance Corporation’s (IFC) EDGE green building standards that encourage intelligent design, from the project’s conception, construction, and operation phases which minimise energy and water use to the benefit of the environment and the homeowner.
The units will retail from KES 5.2 Million and will offer flexible payment plans and financing options for buyers. Construction is anticipated to take 24 months.
Muzi Salama is IHS Kenya’s first development for sale project in Kenya. IHS Kenya has also partnered with Mi Vida to develop 200 green, affordable, and quality rental housing units within the Garden City mixed-use masterplan along the Thika Road Superhighway. The funding for the affordable green housing will be provided by the IHS Kenya Green Housing Fund.
About IHS
International Housing Solutions is a private equity fund manager focused on affordable housing in Africa. IHS has raised over US$740 million in capital and manages six affordable housing funds in the Southern African region. IHS has delivered over 30,000 affordable housing units across more than 90 investments and has developed a solid track record in the African affordable housing space with operations across four countries in the Sub-Saharan African region (South Africa, Namibia, Botswana and Kenya). IHS is a wholly owned subsidiary within the Hunt Companies group, a US real estate and infrastructure fund manager.
