Industrial and Commercial Development Corporation (ICDC) has announced that it will finance home buyers by up to 80 per cent.
The state corporation will offer financing to buyers looking to take up its Mombasa-based real estate development project , The Oceanic Apartments.
According to ICDC, buyers will get the financing at an interest cost of 13 per cent per year, with a repayment period of up to 15 years.
Buyers will be required to pay a deposit of 20 per cent of the purchase price with balance paid as per the schedule indicated in the letter of offer.
“The main incentive for early adopters will be discounted prices in off-plan sales, being able to choose their preferred location and the ability to propose changes of the interior finishing to their apartment while the development is on-going,” said ICDC acting executive director Kennedy Wanderi.
Oceania consists of 36 apartments within Mombasa Island, located on Barmadi Lane off David Kayanda Road in Kizingo. Already, 25 per cent of the units have been sold.