Housing Finance Limited has been renamed HF Group Limited after receiving approval from the central bank to set up a non-operating holding company (HF Group Ltd) and to establish a new subsidiary, HFC Ltd, which is licensed to offer mortgage financing and banking services.
HF Group feels the new identity better reflects its dynamic offerings in the financial services industry, and will allow the firm to offer banking, financial, property and investment solutions across the value chain.
Frank Ireri, HF’s managing director said: “The group has expanded its range of services in recent years and we wanted to consolidate all those services under a new group identity. The rebranding will give us the stimulus to register further growth.”
The real estate development arm that is licensed to engage in project financing and development under the Banking Act will continue to manage projects that are being undertaken by the KBS such as Kahawa Downs, Precious Gardens, Komarock Phase 5B and K-Mall among others.
The company is set to begin work on Komarock Phase 5C, which involves construction of 1,272 apartments – with plans underway to build 240 apartments on Kamiti Road and another 1,100 apartments on Thika Road.