KENYA – Student Factory Africa, a consortium of architects, has partnered with a Dutch-based private equity firm EPC to launch student hostel project in Kenya worth US$50million to address the gap in the sector
The project will be located in Karen, next to Catholic University of Africa in Nairobi.
According to data from Kenya’s Ministry of Education, available student housing in Kenya stood at 300,000 compared to a university enrolment of 520,900 in 2019, excluding technical and vocational education and training colleges.
“We are excited to partner with Kenya Conference of Catholic Bishops (KCCB), Tracom and Redbeton to deliver a state of the art, holistic student housing project that will change the lives of young Kenyans,” said Christopher Osore CEO Student Factory Africa Limited.
The proposed development will be located in Karen where the firm has secured a lease over a 12 acre portion of the land from the Kenya Conference of Catholic Bishops (KCCB).
Set to break ground in April 2021, Student Factory will develop, a 4,500 bed student accommodation facility in a span of two and a half years expecting to finish the first phase of 1,500 beds by one year.
Paul Njau Karuma, the Managing Director of Tracom Services Limited, said that the project has come at a time Kenya is in dire need of student housing that will impact young lives and provide habitable spaces.
The hostels are targeting students in the Karen/ Magadi road area of capital city Nairobi and students will pay US$91 -182 per month.
The project will be targeting IFC EDGE green building rating that is benchmarked to international standards
“As a leading contractor in the Netherlands we are looking forward to expand our expertise and experience to Kenya and across all Africa. This project will be our launch project to showcase our professionally and quality that we have established in Europe,” said Daniel Amian, Head of Development RED Betonbouw B.V.
This project will be the first in Africa, but the firm plans to expand to more in the country and finally to other areas in the East African region.
This will be the country’s second branded hostel after Acorn Group’s Qwetu hostels.
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