Residential developer, Mi Vida Homes announce a significant bulk sale of units within its KEZA Riruta residential development to a local fund.
This strategic transaction underscores the increasing investment potential for housing-linked instruments within Kenya’s domestic capital markets, particularly in the affordable housing sector.
The local fund has committed to acquiring a substantial allocation of residential units in the second phase of the KEZA development. This move highlights a growing institutional appetite for affordable housing as a viable and impactful investment asset class, echoing a similar transaction in 2023 with an international private equity fund.
KEZA, a master-planned green affordable housing development, will feature 1,100 units located off Naivasha Road in the Riruta area of Nairobi. The development boasts a diverse mix of studio, one-bedroom, and two-bedroom apartments, complemented by green spaces, children’s play areas, and community amenities.
Its prime location offers excellent connectivity to Nairobi’s key transport and commercial hubs, making it an attractive option for first-time homeowners, young professionals, and families. The first phase of the KEZA project is scheduled for handover by September 2025.
Commenting on the landmark transaction, Mi Vida Homes Chief Executive Officer, Mr. Samuel Kariuki, stated, “This transaction is a strong validation of the maturing intersection between residential real estate and institutional capital in Kenya. It highlights the potential for structured housing investments to deliver long-term value for investors while addressing critical social infrastructure needs.”
Mr. Kariuki further emphasized, “KEZA builds on Mi Vida’s proven track record of innovative market-firsts, following a precedent-setting bulk purchase transaction with a global private equity investor concluded in 2023. Both transactions affirm the evolving investment thesis around affordable housing, offering local funds and alternative asset managers a compelling avenue to match long-duration liabilities with resilient, impact-oriented real assets.”
This latest bulk sale solidifies Mi Vida Homes’ position as a key player in addressing Kenya’s housing demand and signals a robust future for affordable housing investments within the nation’s capital markets.
