The 120 houses, which will be completed in one and a half years, will bring to 1,000 the total number of homes constructed at the Kisaju View Park Estate which sits on 293 acres of prime land.
Urbanis Africa is investing Sh300 million in the project, according to its chief executive officer Cathy Achola-Warega.
“Forty houses will be completed in six to eight months’ time and the rest should be ready in over a year,” Ms Warega said.
Phase one and two of the project, comprising 850 housing units are completed and fully sold.
Ms Warega said that units under the current project were 80 per cent sold off-plan at Sh2.8 million per unit and new buyers will now be required to part with Sh3.5 million for the same.
She said low cost home buyers are excluded in the Nairobi market, which is why Urbanis was keen on providing an affordable option on the outskirts of the city.
A low cost housing boom is gathering pace in the country as builders and financiers begin to focus their attention to this segment of the market, which was previously viewed as unprofitable.