Karibu Homes, a leading developer of affordable housing solutions has won the Africa Property Investment (API) Award for Best Affordable Housing Development in sub-Saharan Africa 2019.
This Is the second time Karibu Homes has won the Award, having won a similar accolade at the inaugural API Awards held in 2017 held in Johannesburg, South Africa.
Karibu Homes Founder and Managing Director Mr. Ravi Kohli said the Award underscores the position of Karibu Homes as one of the continent’s leading innovators and promoters of affordable housing solutions.
“Karibu Homes is dedicated to provision of affordable, well-constructed homes that offers better quality of life as we believe everyone has the right to decent quality, affordable homes. We are very pleased to receive this recognition of our efforts and we will continue to strive to meet our goal,” Mr. Kohli said.
Karibu Homes project, a pioneering affordable housing project located in Athi River, is being developed in partnership with pan-African Housing Financier, Shelter Afrique.
Shelter Afrique Chief Executive Officer Andrew Chimphondah, who was also one of key speakers at the 2019 API Summit, congratulated Karibu Homes and noted that their recognition was further evidence that Shelter Afrique had made the right choice of partner. Chimphondah notes that over the past few years, Shelter Afrique had focused on the provision of affordable housing as its key priority by fostering critical partnerships aimed at expanding the supply of low-cost housing across Africa which sits right within the objective of Karibu Homes.
“As we embrace a new strategic direction, we have concentrated our efforts in driving developers to build low-cost houses through innovative and alternative building methods, especially for projects we finance or those we have stake in. We are humbled that one of the projects Shelter Afrique holds dear has been recognized at a continental level,” Mr. Chimphondah said.
Karibu Homes is a mass-market affordable housing project aiming to build 1,000 homes when completed. It consists of 1, 2- and 3-bedroom housing units with pricing ranging between KSh2.5 million and KSh5.8 million