Actis and Shapoorji Pallonji Real Estate (SPRE) has launched Mi Vida, a new Ksh. 12 billion residential housing project. The new project seeks to address the shortage of middle income housing in Kenya.
This joint venture follows an ongoing partnership between Actis and Shapoorji Pallonji in India where they have delivered thousands of homes at affordable prices. Their project in Kenya is a culmination of a partnership they launched earlier this year.
The first project will be rolled out within the Actis’ Garden City mixed use development. A total of 624 residential units ranging from one bedroom, two bedroom and three bedroom units will be constructed on a 4.5 -acre parcel of land, adjacent to Garden City mall, off Thika road. Construction of the first phase, comprising 208 units, will commence in the third quarter of the year.
This project will be managed by Chris Coulson who was appointed by Actis and SPRE as the CEO of the joint venture earlier in the year. Commenting on the launch, Chris who is also the Managing Director of Garden City noted: “This is a great time to launch and bring the much needed buyer confidence into the local residential market. I am very pleased and excited to lead this project and look forward to driving the development and execution of the platform’s corporate strategy.”
Mi Vida will feature health and sports facilities such as an Indoor gym with yoga and fitness studio, multi-purpose sports court, 300 metre outdoor jogging track and outdoor gym. Additionally, residents will also have access to special community and leisure amenities such as a barbeque deck, both an adult and children’s pool, social events hall, kids play area, crèche (play school) and day care and over one (1) acre of landscaped gardens. The development will feature security features such as an intercom system for each apartment, 24 hour manned security, CCTV monitoring and access control to all blocks.