affordable housing solutions
TRANSCRIPT
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1
THE PPT LIBRARY HAMA HOMES and templates
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Situation Analysis
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Issues for consideration
Housing in Kenya
Shortage
Annual Demand
Annual Supply
Current Mortgage Penetration
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> 2 Million Units Ministry of housing reported backlog in 2011
Yearly annual increase in demand 206,000 units of which 82,000 in urban areas - Finscope survey Centre for Affordable Finance in Africa
Very few private developers in Kenya are investing in medium to large scale developments of 200 units and above for midle to low income segments
Approximately 2.5% of outstanding GDP or about 20,000 units
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Construction Industry
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Current State – Many disjointed stakeholders
Desired State – One stop shop
Hama Homes
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Design
Cost Scheduling
Engineering
Building
Hama Homes Comoditization of Housing
Architectural Drawing Interior Design
Set and Sit Contractors
Stractural Drawings
Quantity Survey Building & Construction
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Traditional Financing
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Mortgage Finance Requirements
Collateral
Approved Documentation
Availability of Long-term Funding
High Risk Perception
Land Title free of encumbrances Preferably in cities and urban centres
Arch and Stractural Plans by the following authorities: Municipal Council NEMA NCA Public Health Ability for financial institutions to commit funds for lendinf for periods Between 10-25 years
High Interst Rates
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Customer Profile
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Mostly Occupied between 7am and 6pm Mon – Fri hustling
Owns a piece/lot of land In an urban centre
Monthly Net Household Income > 75K
Has no problem with buying a family care and sees the process as easy, less complicated with low risk
Looks at construction as complicated, labourious, long expensive process
Fears long term financial comitment > 7 years with banks such as mortgage arrangements
Dreams of owing a home/house to live in or hire out for rent
Rents a house for > 15k per month
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Our Solution
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Okoa Rent!
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Objectives
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Focus on housing for the low & middle income population by offering a simple financing option
Create a positive perception with regards to formal financing towards construction/home development
Make the bank the leading landlord of choice by promoting Okoa Rent! Our rent to own product
Change
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Measures of Success
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Co-creation
You work with our design team on the concept of your dream home
Hustle Free
We oversee the project for you at n extra cost
Leverage on our relationships
This delivers affordability
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Value Proposition
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Value
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3 Reduced construction time
Hustle free
Affordability
Designed to your specification 4
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Methodology
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Okoa Rent! Financing Process
Client/Member
Bank/SACCO
Hama Homes /Client/Member
Bank/SACCO
Hama Homes
Hama Homes/ Bank/SACCO
Hama Homes/ Client/Member
Application for Okoa Rent!
Loan appraisal process
Concept development, design, costing and approvals
Verification of documentation, approval and issue of undertaking to Hama Homes
Process performance guarantee/Bond to Bank/SACCO
Construction as per Program of Works (POW) Disbursement of funds as per terms of engagement
Completion certificate / Hand over
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Timeline
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TBA
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Product Portfolio
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4 Bedrooms, master ensuit, spacious lounge, open kitchen common bath and Sq + cloak room 144M2
KShs. 4,000,000/-
3 Bedrooms, Lounge, open kitchen and Common bath 87 M2
KShs. 2,500,000/-
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Maximum 84 Months Value
2 Bedrooms 60M2
3 Bedrooms 87M2
3 Bedrooms 106M2
4 Bedrooms 125M2
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Installment int excl Net Income
1,800,000/-
2,500,000/-
3,000,000/-
3,500,000/-
21,500/-
30,000/-
36,000/-
42,000/-
75,000/-
125,000/-
175,000/-
200,000/-
BOA Asset Finance
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