HF Development and Investment Ltd. (HFDI) was incorporated in 1913 as, The British East African Permanent Building Society and Savings Bank Limited. It was later registered as Kenya Building Society (KBS) HFDI has over the years evolved from a property financier to a fully owned subsidiary and real estate development arm of the HF Group.

HFDI is credited with the development of Buruburu and Komarock estates from mid -1970 to the late 1990s. On 9th May 2012, HFDI made a grand return to property supply after a 13-year absence, with the objective of  spearheading the supply of quality and affordable housing to the urban population in Kenya. The company has embarked on an aggressive strategy aimed at addressing the acute shortage in supply of affordable housing in Kenya through fully owned developments, Joint Ventures and Public Private Parnerships



The Kenya Building Society Limited (KBSL) was founded and was the earliest building society in Kenya set up to serve the needs of the immigrant communities.


KBSL was registered under the Companies Act. In 1956, the constitution was changed and therefore on 11th September 1956 KBS was registered under the Building Societies Ordinance of 1956 with its Head office located at Kenwood House along Hardinge Street (now Kimathi street).


Buru Buru Estate is commissioned by the then Mayor of Nairobi Miss Margaret Kenyatta.


Buruburu phase I comprising of 926 houses was completed in 1974


Buruburu phase III comprising of 625 houses and was completed between 1977 and 1978


On the 31st March 1987, Prince Charles’ visited Buruburu estate when he was on a 3-day tour in Kenya to view CDC projects as one of the directors


The construction of Komarock housing project commenced.


The final phase of Komarock was completed in 1990


KBSL continued developing the Komarock estate in the 90s with Komarock Phase II consisting of 197 two and three bedroom houses being ready for sale on 10th February 1994


KBSL finished the construction of estates outside Nairobi, that is, 100 houses at Fahari Estate in Bamburi / Mtopanga, Mombasa


Building of Komarock Phase V was completed


3rd July 2001, HFCK’s MD Mr. Peter Lewis-Jones launched a Property Shop on the 8th floor of Rehani house whose purpose was to enable customers purchase property through HFCK.


KBSL - which had been scaled down to a Unit within HFCK - was revived and immediately embarked on the construction of Komarock phase 5A


Komarock Phase 5A consisting of 162 units was completed.

HF signed two Joint Ventures with land owners in Riruta (Precious Heights) and Kahawa (Kahawa Downs) to develop and supply 174 and 220 affordable housing units respectively.


KBSL rebranded to HF Development and Investment Limited (HFDI)

Precious Gardens development at Riruta was completed

Komarock 5B was also completed

President Uhuru Kenyatta officiates the groundbreaking of Komarock Heights


K-Mall, the new family mall at Komarock was completed

Kahawa Downs is completed

Construction begins at Richland Pointe, Kamiti Road


  • Board Of Directors
  • Benson I Wairegi Benson I Wairegi Director ×

    Benson I Wairegi - Director

    Benson is currently Group Managing Director of Britam Holdings Limited. He joined British-American Insurance Company Ltd. (as it was then called) in 1980 as the Chief Accountant. He had previously worked with Price Waterhouse, the forerunner of PricewaterhouseCoopers for 3 years. Benson’s is currently Vice Chancellor of Kenyatta University.

    Benson holds a Bachelor of Commerce degree in Accounting and an MBA in Strategic Management. He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK).

  • Peter Munga Peter Munga Director ×

    Peter Munga - Director

    Mr. Munga is the Chairman of Equity Bank Limited, Chairman of National Oil Corporation (NOCK), Chairman of Micro-Enterprise Support Programme Trust (MESPT) and a director Rockfeller Foundation, Equatorial Nut Processors and British-American Investments Company (Kenya) Ltd. He is an enterprising businessman and runs the Pioneer Group of Schools. He is a Certified Public Secretary with vast experience in both public and private sector management and holds a diploma in Human Resources and Financial Management. Mr. Munga is a retired Deputy Secretary.

  • James Karanja James Karanja Executive Director ×

    James Karanja - Executive Director

    James joined HF Group in May 2009 as a Senior Manager-Project Finance. He was later promoted as Head of Project Finance in June 2010. He is currently the Executive Director – HFDI. James has over 10 years banking experience having previously worked at CFC Bank Limited and Co-operative Bank of Kenya Limited. James holds a Master in Business administration (MBA) qualification from Warbrough University UK and is a qualified member of the Associate Kenya Institute of Bankers (AKIB).

  • Caroline Ongeri Caroline Ongeri Director ×

    Caroline Ongeri - Director

    An experienced Manager with a civil engineering background. A key strength is leading multi-disciplinary teams to deliver business objectives. Currently working as the facility manager at Rabai Power and responsible for setting up the operations of the Rabai Power Plant.

    Experienced in turning around businesses particularly the Kenya Shell B2B business, where through portfolio alignment and stringent trade debt management, improved the profitability of the business during a period of rising fuel prices.

    At the Shell Foundation developed the scaling-up and spinning off strategy of a programme addressing indoor air pollution. Raised global awareness of the health impact of indoor air pollution from cooking with wood as well as the benefits of adopting a commercial based approach in tackling indoor air pollution. Supported the development of stove emissions standards and epidemiological studies to demonstrate exposure/health impact linkage. Indoor air pollution is now globally recognized as a leading cause of death by several countries.

    Marketing strategy and implementation experience from various launches including launching the first differentiated diesel – Diesel Extra in Kenya, Senegal, Uganda and South Africa. Other product launches include Rimula Lubricants, Pampers baby diaper and Ariel detergent in Kenya.

    Seven years’ experience as a consulting Civil Engineer working mainly on the design and project management of building structures.

  • Frank Ireri (EBS) Frank Ireri (EBS) Director ×

    Frank Ireri (EBS) - Director

    Frank Ireri was appointed Managing Director in July 2006, and Group Managing Director on 1st July 2015. He is a seasoned Banker with more than 20 years standing experience and joined the Company from Barclays Bank of Kenya where he was Head of Barclay Card Africa, covering Kenya, Botswana, Zambia, Mauritius, Seychelles and Egypt. Prior to this, he worked with Citibank and Commercial Bank of Africa. During his banking career, he has had international exposure in the Philippines, Poland, Sri Lanka and Zambia.

    In 2014, as part of the Citi Alumni Network, he was awarded the distinguished alumni award for Leadership & Ingenuity in recognition of his tremendous achievements and innovations in the Kenyan mortgage finance industry.

    In 2011, the former President H.E. Mwai Kibaki conferred upon him the Elder in the second class of The Order of the Burning Spear (EBS) in recognition of his distinguished service rendered to the Nation.

    Frank holds a Bachelor of Commerce degree from the University of Nairobi and is a Certified Public Accountant (CPA K).


  • Constantine Barasa Constantine Barasa Director ×

    Constantine Barasa - Director

    Constantine joined HF Group in July 2006 as an Internal Auditor, rising through the ranks to become the Head of Internal Audit and was later promoted to Assistant General Manager - Risk and thereafter General Manager – Risk before being appointed to his current position. He is a Bachelor of Commerce (Accounting) graduate from the University of Nairobi, a Certified Public Accountant CPA (K) and a Certified Public Secretary CPS (K). He also holds an MBA from the University of Nairobi.

  • Dr. Kaushik Manek Dr. Kaushik Manek Director ×

    Dr. Kaushik Manek - Director

    Dr. Kaushik Manek was appointed as a Non-Executive Director of HF Group Limited effective 26th June 2015. Upon completing his education, locally in Kenya and the UK, earning himself a degree in Marketing and Advertising, Dr. Manek joined the family business in 1978 and has since been instrumental in its growth from a small retail shop in Nairobi to multi-faceted business interests in Kenya and beyond. 

    Dr. Manek is committed to both social and community service. This is exhibited through his extensive involvement with Rotary since 1997, having worked through the ranks within the club level and eventually serving as District Governor in 2008- 2009. His social service spans beyond Rotary and is reflected through community leadership roles within the Lohana community, the Hindu Council and the Desai Memorial Foundation, amongst others.


  • Adan Mohamed Adan Mohamed Chairperson ×

    Adan Mohamed - Chairperson

    Adan joined the board on 15th October 2012. He is the Chairman and a Member of the Board of Trustees at the National Social Security Fund (NSSF). Adan has extensive knowledge and expertise in Law having engaged in legal representation in and outside the country. He has also engaged in the training and evaluation of law enforcement officials in matters involving access to justice and eradication of inequalities based on race, gender or national origin.