- European Investment Bank commits Sh3.2B to housing projects in Nairobi and Kiambu.
- Over 3,000 affordable homes to be built for low and middle-income families.
- Projects to embrace green, climate-resilient construction.
- Target areas: informal settlements and high-demand urban zones.
- Expected to create jobs and boost Kenya’s real estate sector.
Kenya’s Affordable Housing Programme has received a major lift after the European Investment Bank (EIB) pledged Sh3.2 billion to projects in Nairobi and Kiambu counties. The funding is part of the bank’s wider plan to promote sustainable urban growth in Africa.
The investment will help build more than 3,000 new housing units and is expected to create jobs in construction and related sectors. Local developers and housing finance institutions will work alongside the EIB to ensure the projects meet government policy targets.
Priority will be given to green, climate-friendly construction methods, ensuring homes are not only affordable but also sustainable. Planned settlements will include basics like water, electricity, and proper roads, reducing pressure on Nairobi’s and Kiambu’s overstretched urban infrastructure.
The units will mainly cater to residents in informal settlements and low-income areas, where housing demand far exceeds supply. This aligns with Vision 2030 and the Bottom-Up Economic Transformation Agenda (BETA), both of which call for inclusive urban development.
Sector players have welcomed the EIB’s move, noting it will help narrow Kenya’s estimated two million-unit housing gap. The government continues to attract more local and foreign investors with tax breaks, serviced land, and infrastructure support, all aimed at making affordable housing a reality for more Kenyans.
