Kenya’s National Pension Fund Plans 30,000 Units Housing Project

Kenya’s National Social Security Fund, the country’s biggest investor in the Nairobi Securities Exchange (NSEASI), said it’s planning a real-estate venture to build as many as 30,000 residential units near the capital, Nairobi.

“We would like to partner through a joint venture with international bodies, who are willing to invest in Kenya,” Tom Odongo, acting head of the state-run company, told reporters today in the city.

NSSF, as the company is known, is currently evaluating bids from an international tender and further details will be announced when that process is completed, Odongo said. Previously the NSSF, which has 110 billion shillings ($1.32 billion), or about 30 percent of its total portfolio, invested in property, has built 5,000 housing units.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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