Co-op Bank signs deal with Optiven and Everstrong to make home ownership easier
Kahindi says partnership allows the lender to bring financing directly into a trusted end-to-end ecosystem where land, lending and construction are seamlessly linked
Co-op Bank has partnered with real estate firm, Optiven Ltd, and construction company, Everstrong, to offer a unique land buying and construction model that will make home ownership dreams in Kenya much easier.
Dubbed “turning plots into homes”, the three-year deal will see the lender provide financing while Optiven and Everstrong will be tasked with land buying and construction respectively.
Speaking during the unveiling of the Memorandum of Understanding in Nairobi on Tuesday, Co-op Bank Head of Mortgage Finance Japheth Kahindi said the partnership allows the lender to bring financing directly into a trusted end-to-end ecosystem where land, lending and construction are seamlessly linked.
“As one of Kenya’s largest banking serving over nine million customers, their role is to provide affordable credit and walk with the clients all the way to the front door of their finished homes,” he added.
Optiven Chief Executive Officer Dr George Wachiuri noted that for far too long, many Kenyans have struggled with the disconnect between buying land and building a home.
“We have seen investors stuck for years, unsure where to begin and whom to trust with construction. This partnership brings a solution to that struggle,” he said.
On his part, Everstrong Maskani LLP Managing Partner Henry Kyanda said they were proud to partner with the two trusted institutions in delivering homes that meet the highest standards of quality, safety and design.
“Through our MaskaniBora turnkey programme, we walk with each customer from concept to keys. We offer them peace of mind, structural integrity and professional service at every step,” he added.
The deal will initially benefit customers at Optiven’s various developments across the country, including prime plots in Vipingo, Kangundo Road, Kitale, Kisumu, Ngong, Kitengela, Nyeri, Nakuru, Nanyuki, Naro Moru, Malindi, Kithimani and Kajiado.
The prime plots are suitable for immediate residential settlement, commercial purposes or futuristic capital gain.
Buyers will be able to access financing through Co-op Bank’s countrywide branch network after signing a contract with Everstrong Maskani.
Apart from financing, Co-op Bank will also be tasked with oversighting the developments while Optiven will provide land as well as professional construction services.
