Property developer Superior Homes Kenya has signed a Memorandum of Understanding (MOU) with KCB Bank Kenya that will see the two institutions bridge the gap between property development and financing to boost uptake of real estate products in Kenya.
The partnership will enable Superior Homes Kenya investors to access tailor-made mortgage products from KCB Bank, specifically designed to support the mid-income and premium housing market segments, which aligns with their shared vision of empowering more Kenyans to achieve homeownership while driving sustainable urban growth.
This partnership comes at a time when Kenya's real estate sector continues to experience significant economic growth, currently contributing 6.7 per cent to the country's Gross Domestic Product (GDP), up from 4.1 per cent in 2020.
Despite this growth, majority of Kenyans (88.6 per cent) still construct their homes over a long period, relying on personal savings rather than mortgage financing, due to limited access to structured financial solutions.
