Co-operative Bank of Kenya has launched an integrated housing solution in partnership with Optiven Limited and Everstrong Maskani LLP. The landmark initiative aims to simplify home ownership by combining land acquisitio. Also in construction, and mortgage financing into one seamless process.
The tripartite agreement was signed at Optiven’s Global Office in Karen. Having a goal of eliminating the fragmented and often risky journey many Kenyans face when trying to build homes.
According to the 2024 Kenya Housing Survey by the Kenya National Bureau of Statistics and the State Department for Housing. 55.5% of tenants prefer to build incrementally rather than purchase finished houses. However, this model has often led to stalled projects and substandard construction. This is due to lack of coordination and financing.
The new housing model is directly addressing these pitfalls by anchoring all services. These includes land purchase, construction, and credit within Co-operative Bank’s trusted financial framework.
“This partnership allows us to bring financing directly into a trusted, end-to-end ecosystem where land, lending, and construction are seamlessly linked,” said Japhet Kahindi Ponda, Head of Mortgage Finance at Co-operative Bank
Affordable, secure, and professional home ownership
The solution links customers to plots in Optiven’s key developments including Amani Ridge (Kiambu), Achievers Paradise (Ngong), Success Gardens (Gatanga Road), Victory Gardens, and Happy Gardens (Kitengela). Construction is handled by Everstrong Maskani LLP, which offers turnkey home-building services under its MaskaniBora program, complete with structural guarantees, insurance, and defect liability coverage.
“We walk with each customer from concept to keys, delivering quality homes backed by professional oversight,” said Henry Kyanda, Managing Partner at Everstrong Maskani LLP.
Milestone-based construction financing
The bank ensures project integrity through a milestone-based financing model. Its technical team conducts periodic inspections to verify construction progress before disbursing funds to contractors. Therefore, safeguarding customers from financial loss and ensuring projects are completed to standard.
Mortgage financing at 9.5% fixed interest
Speaking at the launch, Geoffrey Mwaura, Head of Refinancing at Kenya Mortgage Refinance Company (KMRC), emphasized that financing under this model remains affordable.
“Through institutions like Co-operative Bank, customers can access up to KES 10.5 million at a fixed rate of 9.5 percent for up to 25 years. Your repayment stays the same, protecting you from rising interest rates,” Mwaura noted.
A coordinated solution to longstanding challenges
Dr. George Wachiuri, CEO of Optiven Limited, called the partnership a long-awaited solution for thousands of Kenyans.
“For too long, Kenyans have struggled with the disconnect between buying land and building homes. This integrated solution provides a professionally managed, secure, and affordable path to home ownership,” said Wachiuri.
However, the three-year partnership includes a structured performance review mechanism. Now accessible through Co-operative Bank’s nationwide branch network. Customers can now maintain financing relationships with the bank while signing direct construction contracts with Everstrong Maskani.
Additionally, innovative housing solution marks a bold step toward unlocking affordable home ownership in Kenya. This are for aspiring homeowners navigating fragmented real estate systems.