The first phase of Mi Vida Homes is complete and ready for occupation. At the official launch on July 29, 2022, Managing Director Samuel Kariuki praised the project team for delivering on time despite the challenges posed by Covid 19.
“Despite most of the execution phase being disrupted by the COVID 19 pandemic, we completed the project in 21 months with the desired quality level and zero fatalities,” said the Chief Executive.
Mi Vida is a middle-income housing development located within Garden City, one of Nairobi’s premier Live, Work and Play communities. It is a joint venture between Actis, a global investment firm focused on the private equity, energy, infrastructure, and real estate and Shapoorji Pallonji Real Estate (SPRE), the real estate arm of one of India’s largest conglomerates. The project kicked off in 2019 and was aimed at addressing the shortage of affordable middle-income housing that continues to plague the country. Already 60 percent of the units have already been purchased. Mi Vida is also offering rental options.
At the launch, Mr Kariuki said that the second and third phases would commence soon. “For any developer, this (completion and launch) is the proudest moment”, he said, noting that trust and credibility were critical elements in the real estate sector. “Mi Vida Joint Venture partners have committed at least Ksh 12 billion in the overall investment rollout”, he added.
Mr Kariuki further revealed that land had already been acquired in other areas near Nairobi where additional homes would be built.
