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The study aimed to investigate how the moderating effect of project environmental factors in financial risk management practices influences the performance of Real Estate Construction Housing Projects in Busia County. Guided by the objective; to assess the extent to which project environmental factors influence performance of Real Estate Construction Housing schemes in Busia County, Kenya. A descriptive survey research design with a sample size of 298 people drawn from a population of 1,832 was used. Data was collected using a structured questionnaire, interview schedule, focus group discussion, and an observation checklist. Quantitative data was analyzed using descriptive and inferential statistics. The Statistical Package for the Social Sciences (SPSS) version 25 was used for data analysis. Qualitative data was analyzed through thematic interpretation of respondents' accounts. Simple and multiple linear regression analyses, along with Pearson Correlation Coefficient models, were employed to determine the relationship between independent and dependent variables. The hypothesis was tested at an α = 0.05 level of significance, and the outcome was: H₀; There is no significant relationship between moderating project environmental factors in financial risk management practices and the performance of Real  Estate Construction Housing Projects in Busia County  was rejected, since P = 0.000 < 0.05. The study concluded that there is a significant moderating influence of project environmental factors in financial risk management practices on performance of real estate construction housing projects.

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