The Co-operative Bank of Kenya is providing a Ksh. 110 million financing package to Eboss Investments, a youth-led real estate company, to build a new British-curriculum school in Ruiru.
The school, named Seven Oaks School, will be a key part of the larger 143 Brookview Membley community, a mixed-use development that also includes residential homes, commercial spaces, and recreational facilities.
The financing package includes an Ksh. 80 million mortgage facility for the school’s construction and a Ksh. 30 million revolving term loan to fund the fit-outs of 20 four-bedroom townhouses. The groundbreaking for the new school marks the start of the project’s fourth phase.
According to Vincent Kihara, Head of Mortgage Finance at Co-operative Bank, the bank’s support is based on a successful partnership model. “Our financing approach aligns with the project’s natural growth. After Eboss proved their ability to deliver on earlier phases, we were confident in structuring this support for the school through a mortgage facility,” he said. “This model ensures sustainable delivery and is a testament to our continued commitment to youth-led developments.”
Eboss Investments has successfully completed the first three phases of the project since 2018, a track record that was crucial in securing the bank’s financing. The partnership will help Eboss accelerate its timelines and unlock more value for its buyers.
Geoffrey Gitaka, Director at Eboss Investments, praised the partnership with Co-op Bank. “Co-operative Bank has been with us from the beginning. They sat down with us, analyzed our vision, and saw that we had a solid plan,” he said. “This has grown beyond just financing; it’s a strong partnership for the long journey ahead.”
Once completed, the 143 Brookview Membley project will feature 100 housing units, the Seven Oaks School, a commercial hub, and other amenities like jogging tracks, play areas, and green spaces, creating a modern, self-contained community.
The Co-operative Bank Group has 212 branches in Kenya, 5 in South Sudan, and a network of ATMs and agency banking outlets, the bank is dedicated to serving its growing client base. Eboss Investments has led the 143 Brookview Membley project, a mixed-use gated community that integrates residential, educational, commercial, and recreational spaces.