Unity Homes, a leading affordable housing developer in Kenya, has handed over keys to another 64 new homes in Tatu City. The new Unity East development sits on 10.4 acres and is made up of two-, three- and four-bedroom apartments.
Unity East, a Ksh5.4 billion ($45 million) investment, is on track to complete 640 apartments amid rapid uptake by buyers. The units are priced between Ksh7.65 million ($63,750) for cash buyers and Ksh8.85 million ($73,750) for investors who choose the flexible 24-month payment plan or mortgage financing.
Speaking during the handover, Jason Horsey, Executive Director of Unity Homes said: “Unity East targets both investors and homeowners with an exceptionally high-quality home that ensures attractive capital gains and returns for investors, as well as a homely and secure community for people who intend to reside in it.”
He added, “Unity East is a fusion of contemporary lifestyle and community. With enchanting park views and expansive outdoor amenities, such as a 35-acre park, swimming pool, gym, and a coffee shop, Unity East creates a truly lucrative opportunity for any investor and an ultra-modern, all-inclusive lifestyle for residents.”
Unity East is the developer’s third project after completing Unity West, also in Tatu City, a year ago and Unity Gardens, in Eldoret, in 2018. Unity East and Unity West are located a five-minute walk from the restaurants and shops of Tatu Central, the CBD of Tatu City.
To date, the company has provided over 500 direct jobs on the Unity East project alone and has upskilled workers from general laborers to skilled workers on the bespoke formwork technology, provided by South Korea’s Kumkang Kind, earning more than twice as much as they would as general laborers.
“In terms of supply, due to our vertically integrated business model, whereby we undertake all the construction works ourselves, we can scale up or ramp down the construction to match supply with demand. On the demand side of the equation, we have had over two years of incredible sales velocity and due to our diverse product portfolio, catering to a broad array of buyers who are purchasing up to 50 apartments per month,” explains Mr. Horsey.
Unity Homes has consistently pushed down the pricing scale since its inception to support the Government of Kenya’s affordable housing agenda. Only this year, the company launched Unity One, which offers apartments for $36,500 (Ksh4.5 million) with a three-year payment plan. This allows for a 10% down payment and thereafter monthly payments of $1,144 (Ksh 140,000) to become a homeowner.
“We are pleased to support the Government of Kenya’s homeownership agenda. As with all of Unity Homes projects, for a very reasonable price the apartments are all finished to the same excellent standard,” said Mr. Horsey.
