Bank projects property sector to grow by 15% following removal of interest rate caps
6 March 2020 … NCBA Bank has signed a strategic partnership with property firm, Optiven Limited as it aims to grow its property finance business.
The agreement will enable NCBA customers buy their desired plot of land and build a residential or commercial unit. NCBA will also offer customers financing of up to 25 years.
NCBA’s Deputy Director, Consumer Banking Mercy Kagwiria said the partnership will enable its customers access end to end property financing solutions in a seamless manner.
“Our property financing offers tailored made end-to-end services that meet the unique requirements of our customers. The bank’s customers will benefit from value-added services and unmatched offers from the bank’s ever-expanding list of service providers and vendors,” said Mercy
Mercy said the lifting of the interest rate caps has prompted renewed interest by investors in the property market. She said the bank projects the sector to record growth of at least 15% percent in 2020.
“NCBA is keen to tap growth in property market which is now recovering following the removal of the interest rate cap,” said Mercy.
Optiven Group CEO, George Wachiuri, said the partnership will enable NCBA customers access value added plots, which are particularly enhanced to suit immediate residential settlement, commercial purposes and futuristic capital gain.
“NCBA customers will access our value added plots that eventually become part of a gated community. Buyers will have the option of building their own home or contracting Optiven Construction, a subsidiary of the company, to build for them,” said Wachiuri.
NCBA Property Finance unit offers a one stop shop that brings together all realtors and buyers in one market place for all property ownership requirements. NCBA has also signed partnerships with quantity surveyors, valuers, furniture shops, house fittings etc, to add value to its customers and support its end to end value proposition.