NSSF plans to build low cost houses

NSSF acting managing trustee, Mr Tom Odongo 

By Nation Correspondent
Posted  Wednesday, March 21  2012 at  18:49

About 30,000 low cost houses are planned for construction in Mavoko municipality by the National Social Security Fund (NSSF), as it deepens its investment in the real estate sector.

The pension fund said the project will sit on its 1000-acre piece of land in Mavoko, Machakos County.

“We want to develop a higher quality, low-cost modern estate complete with power lines, sewerage system, security, roads and recreational facilities. This will help alleviate the acute shortage of housing in Nairobi and its environs,” the fund’s acting managing trustee, Mr Tom Odongo, said on Wednesday said as he presided over a function to reward employers leading in monthly contributions to the fund.

Already, the tender process has been opened to international bidders. He said the full details of the cost and timeline for the multi-billion housing project will be divulged with the completion of the tender process next month, during a ground breaking event at the site.

“We did an international tender last year, but our options are still open as we are yet to finalise the process. I cannot tell you how much it will cost at the moment,” Mr Odongo said, while adding that the choice of an international tender was based on the magnitude of the project.