NBK to finance buyers of new Bamburi homes

Lush Homes director Samuel Gichuru (left) explains the model of the house to NBK manager Elizabeth Kivusyu while Wycliffe Omuya looks on

Wednesday, June 12, 2013 - 00:00 -- BY CHARLES MGHENYI -

Wednesday, June 12, 2013 - 00:00 -- BY CHARLES MGHENYI - See more at: http://www.the-star.co.ke/news/article-124038/nbk-finance-buyers-new-bamburi-homes#sthash.xnJ0aejU.dpuf

The National Bank has entered into an agreement with Lush Homes to finance home buyers in a new development in Bamburi, Mombasa.
The development, dubbed Simba Village, which is being put up by the coast-based property developer, will sit on a three-acre piece of land near Braeburn International School and the Jesus Celebration Centre-Bamburi.
It will comprise 50 units of three-bedroom houses, which will be built in three phases over two years. Construction of the first phase of 15 houses has begun and the show-house will be ready in three months. The second phase will have 15 houses while the third will have 30 units.
The houses are on off-plan sale for Sh7 million, where buyers will be required to make a down payment of 10 per cent and the rest will be financed by the NBK.
Elizabeth Kivusyu, the NBK Changamwe branch manager, said demand for modern residential houses in Mombasa is huge.
“Fifteen houses have already been booked by our NBK staff while the remaining 35 will be for the open market where anyone is free to purchase,” she said during ground breaking at the weekend.
Wycliffe Muya, a director of Lush Homes, said the development will change the face of housing in Mombasa from the traditional Swahili homes to modern maisonettes and bungalows.
“We are targeting the middle-income earners in this project. We have chosen this prime area where residents will be living in a serene and tranquil environment, not far from the town centre,” he said.
Omuya said home owners in the development will benefit from recreational and social facilities in the proximity.
“The Jomo Kenyatta beach, Nyali City mall and Haller Park are just three kilometres away,” he said.
Simba Village will have a nursery school, shops and a recreational centre which will be built in the second phase.
http://www.the-star.co.ke/news/article-124038/nbk-finance-buyers-new-bamburi-homes