President William Ruto on Monday launched the Sh20 billion Starehe Affordable Housing Project to be developed by GulfCap Real Estate.

GulfCap Real Estate is the developer of Mombasa’s award-winning housing project-- Buxton Point. 

EALA Mp Suleiman Shahbal is the chairman of GulfCap Real Estate.

"It gives me great pleasure to be associated with this project as it will create over 10,000 jobs for the youth, 6700 homeowners and tenders worth Sh500 million for the Jua Kali sector with at least 50% going toward women." said Shahbal

GulfCap Real Estate is building affordable housing projects both in Mombasa and Nairobi. 

The Sh20 billion affordable housing project dubbed Starehe Point will be done through a Joint Venture (JV) between GulfCap Real Estate and the National Government.

This project is being financed by local and international investors including regional banks. 

GulfCap Real Estate‘s philosophy revolves around building a lifestyle, not just apartments hence the sharp focus on providing facilities like children's playgrounds. a swimming pool, a gym, greenery, sports facilities, a community center, an Early Childhood Development (ECD) center, outdoor communal recreational facilities, food courts, and many others.

This approach won numerous awards at Buxton Point in Mombasa even before completion of the project.

Buxton Point whose Phase Two is currently on sale was ranked the best real estate developer by the Kenya National Chambers of Commerce and Industry (KNCCI) during the 2022 Mombasa Business Award.

At Starehe Point GulfCap will develop over  6,000 units composed of one, two, three-bedroom and shop typologies. The selling price for the units will be starting from Sh1.155 million.

In addition to creating over 6,000 new homeowners, the project will create more than 5,000 job opportunities directly and indirectly for the people of Nairobi, especially the hustlers.