The average price per acre was Sh1.2 million in 2011, but is more than Sh120 million today.
Introduction of evaluation fee is already facing fierce opposition from Nairobi residents.
The new product will be used in place of other cement and lime varieties.
The project has 178 three-bedroom houses and 171 four-bedroom units.
The factory has a capacity to produce 126,720 expanded polystyrene panels (EPS) panels a year.
The new houses will be built using the Expanded Polystyrene (EPS) technology.
The one bedroom apartments will be sold for as low as Sh2 million.
The NCA oversees all areas of the Kenyan construction industry.
The centres will promote the use of location-specific building materials.
The luxury homes are centred around waterholes and salt licks.