Kenya: Home Owners Get Reprieve After Lesedi Developers Extend Payment Period

16 August 2021

Home owners who have bought houses and land with one real estate company in Nairobi have a reason to smile after a firm gave them a grace period to repay their loans.

Many home owners across the country have been struggling to pay their mortgages and loans, with some defaulting on payments, due to the outbreak of the Covid-19 pandemic that has rendered many Kenyans jobless.

However, those who bought their dream houses with Lesedi Developers have been given more time to repay their loans.

4,000 Kenyans

"Lesedi Properties objective is to ensure many Kenyans own their homes and since the outbreak of Covid-19 last year, many Kenyans have been ravaged by the deadly disease and that is why we have given our clients more time to recover as they reorganise their financial status," said Mr Geoffrey Kiragu, chief executive officer and founder of the city-based property firm.

He said since the company was formed four years ago, it has helped more than 4,000 Kenyans to own land and houses in Juja in Nairobi and Machakos.

The official announced that, in the next one year, the company plans to build nearly 300 houses in Nairobi in line with the government's Big Four Agenda of providing Kenyans with affordable housing.

Mr Kiragu revealed that the company has launched nearly 40 projects and has issued more than 5,000 title deeds to land owners since inception.

Lesedi Developers is undertaking several real estate projects in Makongeni in Thika and is also eyeing Nakuru County.

Spread wings

"Nakuru Town is soon becoming a city and the demand for homes will increase. We're planning to extend our wings there as we plan a rollout in all the 47 counties. There is growing potential for affordable houses with devolution taking root," he said.

The official hailed the move by the government to digitise records at the Ministry of Lands, saying, it will eradicate fraudsters who have been conning unsuspecting Kenyans by selling fake land.

The move, he said, will speed up the process because getting a title deed is a nightmare for many Kenyans because of the rampant fake title deeds."

"One of our objective is to support the government Big Four Agendas, specifically the housing pillar and this year we plan to build at least 300 houses,"

AllAfrica publishes around 800 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X