New deal by Mi Vida and IHSK to advance Green, Affordable Homes in Kenya

By Isaac OGANGA

Real estate developer Mi Vida Homes has handed over 200 affordable green housing units to private equity-backed International Housing Solutions (IHS) Kenya at its 237 Garden City project, in a deal that will bolster Nairobi’s push to plug its swelling affordable housing gap.

The transaction is part of a broader partnership aimed at delivering sustainable, climate-friendly, affordable housing solutions to scale.

This IHS project will be known as Muzi Stawi (Muzi means home in Taita and Stawi means peaceful in Swahili – a Peaceful Home), and shall be part of the wider Mi Vida’s affordable housing neighborhood, branded as 237 Garden City, which targets working-class Kenyans priced out of conventional homeownership options

Mi Vida chief executive, Samuel Kariuki, said the firm is scaling up delivery with more than 3,000 affordable units in the pipeline across Nairobi and other urban centers.

“Affordable housing must not mean compromised standards. We are proving that you can deliver modern, green, and well-located homes at accessible price points, said Mr. Kariuki. “Our partnership with IHS Kenya reflects a shared commitment to scalable housing that speaks to the urban Kenyan’s evolving needs.”

Located along the Thika Superhighway within the integrated Garden City precinct, the 237 Garden City development comprises a mix of studio, one- and two-bedroom apartments that have been built using the IFC EDGE tool that enhances green construction technologies that promote energy and water efficiency, which bring down overall costs, thereby promoting long-term affordability to the residents.

Residents shall also benefit from the proximity to retail, commercial, and leisure amenities within the larger Garden City master plan.

IHS Kenya Managing Director Kioi Wambaa said the project aligns with the fund’s mission to drive community upliftment through impact-driven housing investments.

“Our investment in Muzi Stawi reflects our ambition to redefine what affordable housing can be,” said Mr. Wambaa. At IHS Kenya, we are on track to deliver about 3,000 quality, affordable green homes by 2030.

Projects such as Muzi Stawi are not just developments; they are a promise to the Kenyan market that affordability and excellence go hand in hand.

Partnering with Mi Vida has shown what is possible when timelines are met, standards are upheld, and aspirations are shared. Garden City is an address that embodies modern living, and we are proud to make it accessible to more Kenyans.”

International Housing Solutions is a private equity fund manager focused on affordable housing in Africa. IHS is an asset manager of six affordable housing funds in the Southern African region and manages a listed REIT on the Johannesburg Stock Exchange.

IHS has developed a solid track record, having delivered over 40,000 affordable housing units since 2005 in the African affordable housing space with operations across four countries in the Sub-Saharan African region (South Africa, Namibia, Botswana, and Kenya).

IHS is a wholly owned subsidiary within the US-Hunt Companies group, a real estate and infrastructure fund manager.

The housing handover comes at a time when the Nairobi Metropolitan Area faces an annual housing demand of over 200,000 units, with only 35,000 units delivered in 2024, according to the Nairobi Metropolitan Area Residential Report 2025 by Hass Consult.

This leaves a deficit of more than 165,000 units annually, particularly in the affordable segment, highlighting the urgent need for public-private sector collaboration.

Having broken ground in 2023, the 237 Garden City development has already attracted interest from both end-users and institutional investors, buoyed by Mi Vida’s brand reputation of on-time delivery and the project’s strategic location.