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Kenyan real estate firm GulfCap bags continental award

Kenyan real estate company GulfCap Real Estate (GCRE) has bagged the most promising affordable housing developer in Africa.

The company bagged the award in the gala dinner at the 39 annual conference organized by the African Union for Housing Finance (AUHF) in Windhoek, Namibia.

Zambia Permanent Secretary Ministry of Infrastructure, Housing and Urban Development Professor Albert Malama presented the award.

The company recently dominated headlines for its Sh6 billion world-class Buxton Point project in Mombasa.

Head of Investment, Sales, and Marketing Martin Kariuki, Chief Development Officer May Waihenya, and Chief Accountant Mahmoud Al Bakry were present to receive the award on behalf of the company.

The firm’s Chief Executive Chris Ochieng said its commitment to providing affordable and high-quality housing solutions has earned it distinguished recognition.

“We are honored to be recognized as the most promising emerging affordable housing developer in Africa. This award is a testament to our dedication to making affordable housing accessible to a broader spectrum of the population, thereby contributing to the overall growth and development of the African housing market,” Mr Ochieng said.

The event dubbed “AUHF Affordable Housing Awards“ officials said is aimed at identifying and showcasing developers, financiers, NGOs, and local government departments breaking new ground in the affordable housing sector.

AUHF is a body that promotes the development of effective housing markets and the delivery of affordable housing across Africa, working in the interests of the members and the industry as a whole.

Since its formation in 1984, the AUHF has evolved into a member-based, industry association of mortgage banks, building societies, housing corporations, Development Finance Institutions, and other organizations involved in the mobilization of funds for shelter and housing on the African continent.

According to the organization, AUHF Affordable Housing Awards will become an annual tradition, pulling in and recognizing innovative projects and pioneering work by AUHF and non-AUHF members alike to recognize excellence across various categories.

The developer was awarded for delivering its flagship project, the award-winning Buxton Point project which was handed over to its owners recently.

The delivery of Phase 1 of the project made GCRE the first private developer in partnership with the government to hand over an affordable housing project in the country.

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