President Ruto pledges to boost housing project funding as he launches Buxton Phase 2

President William Ruto with GulfCap Real Estate chairman and EALA MP Suleiman Shahbal during the unveiling of the Buxton Point Phase 2 project plaque on November 2, 2023.

President William Ruto has launched the second phase of the Sh6 billion Buxton Point project, in an event that saw him pledge to boost the housing project funding.

The President launched the Mombasa-based project on Thursday, November 2, in an event hosted by Governor Abdulswamad Nassir.

In his address, President Ruto said the project will involve both social housing, affordable housing and market units. He also commended the project developer's quality work in the affordable housing program.

"I am here today to tell you the former tenants that you will have the opportunity to live here. It has been possible because we have passed a bill on housing fund. The kitty will allow us to issue TPS. We are going to fund the TPS," said President Ruto who also broke ground for the neighbouring Mzizima estate.

According to the president, the social housing units will be granted Tenant Purchase Sceheme (TPS) program that will allow them to pay from as little as Sh3, 000 for 20 to 30 years.

Mombasa Governor Abdulswamad Nassir promised that the county projects will align to the Affordable Housing Agenda of the National Government as he urged fellows not to be divided by people who do not understand the affordable housing agenda.

GulfCap Real Estate chairman and EAL MP Suleiman Shahbal said he was delighted to have the TPS as that had been the intention since they started the affordable housing program.

My intention is to have our people live in a good place and enjoy a lifestyle like the one we have built here at Buxton Point. We have gone through difficulties here, but today this project has been a benchmark for other developers," he said.