Madison Life Assurance and HF Group’s banking subsidiary Housing Finance Company (HFC) have partnered to develop a planned mixed-use project in Athi River dubbed, VillaKazi Homes.
Madison Life Assurance will provide 100 acres of land valued at Kes3 billion while HFC will provide end-user buyer financing, project management expertise as well as sales support for the project in the partnership.
Madison Life MD Githua Ngaruiya said that the project will provide over 600 homes.
“The community will provide residents with holistic living including social, commercial and education amenities,’’ he said.
The VillaKazi Homes project will be implemented in two phases on a 60-acre plot of land and on a 40-acre parcel, respectively.
HF Group CEO, Robert Kibaara stated that the partnership was in line with its strategy to provide Kenyans with holistic banking and property ownership solutions.
Further, Kibaara said that the partnership reinforces HF Group’s commitment to enriching lives by providing Kenyans with relevant homeownership opportunities and financing options.
This project will contribute towards alleviating the housing deficit amongst the thousands of working-class Kenyans in the rapidly growing industrial area within Athi River and nearby satellite towns.
Madison Life offers insurance and wealth management services in the Country. It is a subsidiary of the Madison Group Limited which comprises Madison General Insurance Kenya Limited, and Madison Investment Managers Limited.
HFC is a subsidiary of the HF Group that offers fully-fledged commercial banking and property finance solutions customized to meet the unique needs of our customers.
The services include; Retail Banking, Corporate Banking, Trade Finance, SME banking, Asset Finance & Insurance Premium Financing, plot loans, construction financing, home loans, project finance and equity release solutions.
