Nairobi, April 23 -- Residential property developer, Mi Vida Homes, has launched a Sh5.6 billion ($42 million) project in Tatu City, marking its entry into Kenya's luxury housing segment.

The development, known as 156 Elara, will comprise 156 low-density townhouses on five acres.

"Our entry into the premium segment with 156 Elara is a deliberate evolution driven by market maturity and growing demand for low-density, high-quality homes," said Samuel Kariuki, Mivida Homes, chief executive officer.

The project will have a range of housing units, including three-bedroom duplexes priced at Sh25.6 million and four-bedroom triplexes at Sh44.5 million.

"This strategic expansion positions us to deliver across affordable, mid-market, and luxury...