On February 19, the Hoa Binh Construction Group reported that it has won bidding contracts for five social housing projects in Kenya totaling Ksh10.4 billion (USD72 million).
The projects, financed by Kenya’s Ministry of Lands, Public Works, Housing, and Urban Development, aims to provide housing for police and military personnel as well as students from the Technical University of Kenya. The group will be the primary contractor for the 3,400-apartment projects, designing and building housing and infrastructure systems.
Furthermore, they have been invited to the next stage of two other African social housing projects after clearing the Kenyan government’s credibility and capacity examination for contractors. The firm has been called to submit design and construction bids for these projects. The total number of flats in both of the construction projects is estimated to be around 6,200, with a value of 91.6 million USD. If this additional contract gets approved, the entire worth of Hoa Binh’s social housing development contracts across Kenya will be $163.6 million.
According to Le Viet Hai, Chairman of the Group’s Board of Directors, Africa shall continue to be the largest and most promising construction market in all continents in the future decades. In the near future, Hoa Binh plans to focus on tendering for social housing development projects before moving on to higher-end projects, he said.
Previously, group representatives took an excursion trip to Kenya, the firm’s initial target market in Africa. Winning the bids for the aforementioned projects is a first victory for the corporation in its development strategy aimed at the African market, as part of its approach to future work in other international markets.
