Kenya through Urithi Housing Co-op Society Limited, is set to construct 5000 affordable homes in Mang’u, Kiambu County in bid to help the government achieve the national housing agenda by 2022.
Urithi Housing Co-op Society Limited Sales Manager, Gabriel Ng’ang’a confirmed the reports and said the project will sit on a 200 acres of land and will be carried out in two phases.
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Low cost houses project
Phase one of the development which will sit on a 100 acres, will will involve construction of commercial and residential plots. The plots will cost an estimated US $30,000 to US $30,000 for a quarter an acre and US $30,000 to US $20,000 on an eighth of an acre.
The mixed concept of commercial and residential plots in phase one will be arranged in several courts of quarter acres and one-eighth acres. Each court has a set of units and the prices vary by location of the court. The price bias is dictated by the topography of land and the views in each section.
The second phase will comprise of affordable residential housing schemes. It will be sub-divided into 276 units of 2&3 bedroom apartments, 85 units of 3&4 bedroom maisonettes and 80 units of 2&3 bedroom bungalows. 2&3 bedroom bungalows cost US $50,000 the 2&3 bedroomed maisonettes cost US $60,000 and US $30,000 to US $40,000 on the 2&3 bedroomed apartments.
They will additionally be fitted with a cabro-paved roads, solar street lighting, waste treatment plant, manicured lawns and gardens, CCTV alongside contracted security, jogging track, stone perimeter wall complete with electrical & laser fencing. Public amenities such as educational centers, health care will also be included.
Kelvin Manjari Muthuri, Urithi Society’s marketing director said that through the agreement with Rafiki Bank its members can get soft loans at 18% interest rates while Urithi Premium Sacco members can get loans with an annual interest rate of 6.5% These loans will be spread into a four year payment period.
That’s a commendable job. Hope the rich wont invade the project and each buys like 50 units with a speculation of selling them when prices go high.