IHS to Build 200 EDGE-Certified Green Homes in Limuru

IHS Kenya Green Housing Fund has acquired 2.5 acres at the Tilisi mixed-use development in Limuru for its upcoming green housing project.

IHS, the local subsidiary of South African property fund manager International Housing Solutions, plans to construct more than 200 EDGE-certified green homes in response to the rising demand for such buildings in Kenya.

EDGE (Excellence in Design for Greater Efficiencies) is a green building certification system by the World Bank’s International Finance Corporation (IFC), tailored for emerging markets.

EDGE-certified buildings meet criteria for resource efficiency in construction and operation, using less energy, water, and materials than conventional buildings, resulting in cost savings for occupants and the environment.

“This land acquisition reinforces IHS’s focused strategy of the development of green affordable housing across Africa. Through our investment in climate-friendly affordable housing, our projects help create jobs, grow skills and stimulate economic development,” said Kioi Wambaa, managing director, IHS Kenya.

RELATED: New Index to Evaluate ‘Green Buildings’ in Kenya

IHS, which specialises in green affordable housing investments in Africa, recently acquired 200 units in Mi Vida Homes’ affordable housing project at Garden City on Thika Road, Nairobi, seeking to capitalize on the local housing market.

As per the deal, IHS acquired 100 one-bedroom apartments, each priced at Sh4.2 million, and 100 two-bedroom apartments, each selling for Sh6.4 million.

This amounted to Sh1.06 billion. However, it is unlikely that the investor, who intends to hold the units for rental income, purchased them at the quoted prices.

RELATED: Property Manager Acquires 200 Homes at Garden City

In response to the new development, Tilisi CEO Graeme Reid expressed excitement at the partnership with IHS saying, “Our vision has always been to create more than just a collection of buildings. We are building a place where integrated communities thrive and flourish in a beautiful, clean, and secure environment.”

Mr Reid added that the investment by IHS Kenya underscores the attractiveness of Tilisi’s offer for developers —fully serviced land parcels in a strategically located, sustainable and integrated neighbourhood.

Located about 30 minutes from Nairobi city centre, Tilisi is a 400-acre mix-use development containing a logistics park, a residential area, and a commercial zone.

The logistics park area offers land for light industrial and logistics developments. Africa Logistics Properties has already built a Grade A warehousing within it.

On the other hand, residential options including Tilisi Views, Maisha Homes, and Chigwell cater to various density needs. Tilisi is planned to accommodate 5,000 homes and more than 20,000 residents upon completion.

Join 15,000+ pros getting our weekly digest of news and insights.