NAIROBI, March 5 (Xinhua) -- Housing experts gathered in Kenya's capital, Nairobi, on Wednesday to discuss strategies for accelerating the construction of affordable housing and addressing the country's housing deficit.
The one-day Public-Private Partnership Investor Conference brought together policymakers, real estate developers, financial institutions and urban planners to explore innovative solutions for making home ownership accessible to low-income earners.
In her opening remarks, Alice Wahome, cabinet secretary for the Ministry of Lands, Public Works, Housing and Urban Development, said that Kenya faces a housing deficit of about 200,000 units annually due to rapid population growth and urbanization.
"To address this housing gap, the government has introduced policies to attract private sector investment in the affordable housing sector, including providing land at concessional rates," Wahome added.
Evans Kamau, senior operations officer at the International Finance Corporation, the World Bank's private sector arm, said that one of the key measures to enhance the supply of affordable housing is fostering collaboration with the private sector, which brings efficiency, innovation and expertise, thereby reducing delays in housing construction.
Sheila Waweru, chief executive officer of the Affordable Housing Board, said that Kenya has also implemented reforms to fast-track approvals and permits, reducing delays and bureaucratic costs associated with affordable housing projects.
David Mathu, chief executive officer of the National Housing Corporation, said that Kenya has also rolled out tax incentives and subsidies for developers focusing on large-scale affordable housing projects.
