KCB Bank and Mi Vida Homes have entered a strategic partnership to accelerate the development of eco-friendly, affordable homes in Kenya.
The move aligns with the governments affordable housing agenda and seeks to bridge the housing gap by enabling more individuals and families to own quality homes at competitive financing terms.
Through this arrangement, KCB will provide a range of banking solutions, including debt financing to support Mi Vida Homes in the construction of modern, well-planned housing units while the bank will offer end-user financing to facilitate homeownership for prospective buyers.
Mi Vida Homes is committed to bridge the gap in quality affordable and mid-market housing and timely delivery. As part of this mission, Mi Vida is set to deliver 5,000 homes over the next five years, ensuring sustainable, high-quality living for homeowners while maintaining our track record of excellence and reliability.
With Kenya facing a significant low-income housing deficit, this partnership aims to bridge this gap by ensuring a steady supply of ready-built, high-quality homes at Mi Vida Homes master-planned, mixed-use communities. The units will be available to KCB Bank Kenyas mortgage customer base, making it easier for first buyers and existing homeowners to achieve their dream of home ownership.
Speaking at the signing ceremony, KCB Bank Director of Mortgage Business, Caroline Wanjeri emphasized the banks commitment to strengthening Kenyas housing sector from both the supply and demand sides.
“At KCB, we believe that homeownership is a key pillar of economic and social progress. This partnership with Mi Vida Homes reflects our ongoing efforts to provide innovative and accessible financing solutions that empower more Kenyans to own homes. By leveraging our financial expertise and Mi Vida Homes development capabilities, we are unlocking new opportunities for families across the country, said Wanjeri.
“Sustainable urban living is no longer a luxuryit is a necessity,” said Samuel Kariuki, CEO of Mi Vida. “At Mi Vida, we are committed to building homes that balance affordability, quality, and green living. In a rapidly urbanizing Kenya, timely project delivery is key to unlocking value, whether for a homeowner looking for a place to settle or an investor seeking strong returns. Real estate must evolve to meet the needs of our people today while ensuring a sustainable future for generations to come,” Mr. Kariuki added.
Kenya’s Affordable Housing Programme represents a significant effort to address the nation’s housing needs. The success of the programme hinges on a strong partnership ecosystem between financial institutions and developers to provide over 250,000 decent and affordable housing units, particularly for low-income earners. The bank remains at the forefront of mortgage financing in Kenya, leveraging strategic partnerships to provide innovative solutions in the real estate sector
