The property is expected to appeal to high net worth international buyers.
Phase one and two of the project, comprising 850 housing units are completed and fully sold.
Nairobi building permit fees are said to be the highest across the continent.
Developers are unveiling low cost housing projects targeting individuals earning less than 30,000 a month.
114 applications were received for the 104 apartments that were being sold off-the-plan.
The provisional budget for the project has been set at Sh4 billion.
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 homes, costing Sh1 million for a two-bedroom unit, will be built on 1,000 acres in Athi River.
The centres will promote the use of location-specific building materials across the country.