KENYA – FBW Group, planning, design, architecture, and engineering team, is partnering with Fusion Capital, a real estate developer, to create a low-cost, affordable housing strategy in Kenya.
FBW has been appointed as consultant to help develop the plan.
The group, which is celebrating 25 years in East Africa, has a strong track record in the planning, design, and delivery of volume housing projects.
Fusion Capital is a private firm which started operations in 2006 and has grown to be one of the largest and most successful real estate developers and asset managers in East Africa.
Together, Fusion and FBW are putting together a large-scale, low-cost housing strategy to deliver affordable homes for people in Kenya earning less than US$500 a month with the ultimate aim being to roll the development plan out across the region.
Fusion is known for its success in funding, completing, and managing East African developments across various real estate sectors and has successfully planned, funded, and developed projects valued at more than US$200m over the past 14 years.
An experienced commercial real estate developer, with almost 1 million square feet of living and working spaces developed, it has now decided to build on its experience in residential development and asset management to focus on the affordable housing market.
Antje Eckoldt, FBW Group director and its Kenya country manager, said: “We are working with Fusion Group to create a large-scale, low-cost housing strategy that will deliver truly affordable homes and we look forward to unveiling it with them in 2021.
“It is a challenging task, but we believe that it will play a major role in the drive to close the housing gap in Kenya and other East African countries. We are using all our experience in the planning, design and delivery of volume housing projects to create innovative solutions that will meet budget requirements, while delivering homes of real quality,” she added.
“We are working with Fusion Group to create a large-scale, low-cost housing strategy that will deliver truly affordable homes and we look forward to unveiling it with them in 2021”
Antje Eckoldt – Director, FBW Group
“As with all our work, the design and delivery of sustainable building solutions and green principles is an integral part of our thinking, along with the use of locally sourced materials and skills,” she concluded.
FBW has operations in Uganda, Kenya, and Rwanda, as well as an office in Manchester in the UK and is a major player in the region’s construction and development sector.
James Maclean, director of real estate at Fusion Capital in Kenya, said FBW’s experience and innovation would play a key role in developing a successful strategy.
“We are looking to build on our extensive experience in residential development and asset management to focus on the affordable housing market. Creating a workable strategy is key to this. We believe there is a real gap in the sector. Much of the housing currently described as being ‘low-cost’ is actually only affordable to those in the middle-income bracket. That is something we are looking to change.”
“We’re very excited by the strategy that we are developing and the design, architecture and engineering experience that FBW is bringing to the project. Our aim is to officially launch it in Kenya and we aim to roll it out across East Africa over several years.”
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE
