PRESS OFFICE: Phatisa
The Pan African Housing Fund (PAHF), managed by Phatisa, will invest in a special purpose vehicle with Africa Reit Limited to develop an apartment complex in Kikuyu Town, west of Nairobi, Kenya.
Kenya, and in particular Nairobi, is experiencing a shortage of good-quality middle income housing units. This investment adds good quality middle income residential apartments to the Nairobi market.
Westpoint Heights is a 66-unit high-density development in a desirable node, which will boast, among other innovative building features, green building initiatives such as natural lighting for internal spaces during the daytime, solar-powered external lighting, solar water heating, and recycled waste water for landscape irrigation and cleaning. The project plays its part in the development of the wider Kikuyu Town community.
Africa Reit is managed by a proven and dedicated team of real estate professionals, with a strong track record in delivering similar projects, and is headed by Wainaina Kenyanjui. The joint venture will enable Africa Reit to deliver the project rapidly with decreased risk by unlocking bank funding, and providing value-enhancing project management mechanisms.
PAHF is a private equity fund that provides risk capital to the fast-growing and lucrative middle and affordable housing sector in East and Southern Africa. Phatisa, as the manager of PAHF, is committed to providing development-enabling equity finance to experienced and reputable property developers to enable the increase in the supply of affordable middle class housing in East Africa, Zambia and Mozambique.