Residential Projects

Construction of Everest Park II Estate Gets Underway

The project includes 60, 100, and 40 units of one-, two-, and three-bedroom units respectively.

Updated on

July 4, 2019

Everest Park apartments in Athi River. PHOTO | COURTESY

Work is underway on phase two of Athi River-based Everest Park Apartments, following the signing of a deal between the developer Everest Park Limited and Shelter Afrique.

The two partners say the project in Machakos will have a total of 60 one-bedroom units, 100 two-bedroom units and 40 three-bedroom units targeting low to middle-income earners.

Everest Park II, which comes shortly after phase one received an occupation nod from the NIB, is selling its units at Sh2.95 million, Sh4.95 million, and Sh6.5 million for one-, two- and three bedrooms respectively.

“We are glad to announce that we have so far sold 96 of the 200 units with one- and two-bedroom units being in high demand. We are upbeat about the uptake of the remaining units.

“We plead with the government to support private developers to enable us to construct more affordable houses,” Everest CEO James Muriuki said.

Phase one, which is already sold out, has 240 units: 120 one-bedroom units that sold for Sh2.6 million each, 60 two-bedroom units priced at Sh4.6 million each, and 60 three-bedroom units sold for Sh5.5 million each.

Several of the houses had in 2017 developed massive cracks prompting the NIB to undertake a structural audit of the newly built property. The audit findings condemned the building due to structural weaknesses.

Everest Park Limited was compelled to correct the defects, an undertaking that has now given the project the much-needed occupation green light.

Shelter Afrique managing director Andrew Chimphondah said: “Africa has a shortage of houses of up to 51 million units with Kenya taking a share of two-million units shortage, creating a need for affordable quality houses not exceeding Sh3 million.”

The firm, which has injected Sh200 million into the Kenya Mortgage Refinance Company, has teamed up with Karibu Homes Parktel to build 288 middle-class homes in Athi River.

The Sh355 million Riverview Estate, which was launched in March, comprises one-, two- and three-bedroomed houses selling at Sh2.5 million to Sh5.8 million.

The project came barely a week after Shelter Afrique in partnership with HF Group announced the completion of 248 units at Richland Pointe on Kamiti Road for Sh990 million.