Gulf African Bank has entered into a mortgage financing agreement with property developer Mi Vida Homes.
The partnership will allow Gulf African Bank’s customers and non-customers to access Shari’ah-compliant mortgages of the recently completed Mi Vida Phase I housing project at Garden City.
The Kshs 12.0 billion projects sit on the larger 47- acre piece of land at Garden City and comprise 221 apartments distributed into one, two, and three bedroom typologies, with prices ranging between Kshs 8.8 million and Kshs 15.7 million.
Interested buyers will enjoy the lowest mortgage rate in Kenya at 11.75%. In addition, customers will enjoy a repayment period of up to 20 years.
Mi Vida Homes CEO, Mr. Samuel Kariuki, said that the partnership with Gulf African Bank is part of the developer’s strategy to increase financing options for potential home buyers.
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