Bamburi targets lower end of the market with Sh500,000 home solution

Bamburi cement has launched an affordable product aimed at delivering access to quality and affordable housing to the middle and lower end of the market.

The Home construction product, targeting lower to middle earners, will range from Sh500,000 to Sh5.2million. The solution is for residential homes-bungalows, maisonettes and incremental houses.

The product will also see customers access among other benefits, construction funding, architectural drawings, bill of quantities, technical assistance and construction advice.

The product is part of Bamburi cement’s affordable housing initiative dubbed Maskani developed to address the huge need for housing in Kenya. The annual housing deficit in Kenya is estimated at about 200,000 units.

“Maskani offers a seamless end-to-end building solution to our customers including on-site technical advice and tests using our mobile laboratory,” said Bruno Pescheux Bamburi cement Managing Director.

Maskani was introduced last year as part of a pilot ahead of formal launch.

“Currently, the Maskani initiative is being carried out in Nairobi and its environs to enable us gather as much understanding as possible with a plan to progressively expand into other towns in the second half of 2016,” added Mr. Pescheux.

They will also be linked to Bamburi’s countrywide network of reliable and convenient retailers of building materials.

The company’s decision is informed by the fact that most home builders have limited knowledge of the construction process and rely on personal networks or masons for advice.

The high rate of population growth (2.7%) and urbanization (4.4%) is driving the increased need for housing and infrastructure. According to the World Bank, 46% of the Kenyan population lives below the poverty line. This justifies the need for affordable housing initiatives.

In general, Bamburi’s affordable housing initiative covers housing finance, mass housing and alternative building systems like stabilized soil blocks.

Through the initiative, the company is looking to develop partnerships with various financial institutions including commercial banks, micro-finance institutions and SACCOs to provide construction finance to individuals.

“We are also looking to partner with developers and small/medium size contractors to roll-out mass housing projects,” concluded Pescheux.