Nairobi County will build low-cost houses on 2,000 acres where many dilapidated houses are currently located.
The
estates targeted for upgrade are in Eastlands and include Bahati,
Mbotela, Ziwani, Makongeni, Kaloleni, Jericho and Shauri moyo.
County
Governor Evans Kidero said architectural designs would be done in
collaboration with two universities, while the construction would tap
into firms managed by the youth.
The project that is
estimated to cost Sh43 billion under the public-private partnership
(PPPs) is expected to provide 650,000 people with decent and affordable
houses.
The houses will be sold to home hunters in the
low- and- middle income segment that has mostly been neglected by
developers because of low-profit margins.
The Cabinet approved the project in 2010 to meet the growing demand for housing in the city.
Mr Kidero was speaking during the opening of a Rafiki Deposit Taking Microfinance branch in Biashara Street Thursday.
“We
intend to construct low-cost housing on 2,000 acres in Nairobi and we
are in consultation with University of Nairobi and the Jomo Kenyatta
University of Agriculture and Technology, who will provide architectural
designs,” he said.
Mr Kidero added that several financial institutions would provide the required funds, among them Rafiki DTM.
“We
will enter a memorandum of understanding where we finance the firms and
you ensure payment for the projects undertaken by the firms owned by
the youth,” Rafiki DTM chief executive officer Daniel Mavindu said.
The
housing project is set to be a great relief to many people who cannot
afford high mortgage rates. About 200,000 housing units are required
every year in Kenya to meet rising needs, but only about 50,000 are
constructed.
According to government statistics, only
16 per cent of Nairobi residents live in their own homes, with the
majority in rental houses.
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