Safaricom Investment in Sh1bn housing project

May 9, 2013
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The development targeting middle to upper income earners working in Nairobi and Machakos counties is meant to address the rising demand for gated community housing around the country/FILE
The development targeting middle to upper income earners working in Nairobi and Machakos counties is meant to address the rising demand for gated community housing around the country/FILE
NAIROBI, Kenya, May 9 – Safaricom Investment Co-operative (SIC) on Thursday unveiled a one billion shilling housing project in Mlolongo.

The development targeting middle to upper income earners working in Nairobi and Machakos counties is meant to address the rising demand for gated community housing around the country.

While speaking during the ground breaking ceremony, Safaricom Chief Executive Officer Bob Collymore said the 1st phase will be ready in September 2014 while the 2nd phase will be ready at the end of 2015.

“SIC has planned to invest more than a billion shillings in the entire project with the 1st phase having 160 units and the 2nd phase having 140 units. These houses will be a mix of 2 and 3 bedroom units and will contribute towards reducing the 150,000 housing deficit that the country experience annually,” Collymore said.

The project will also accommodate a commercial centre to serve its residents.

“This project is meant to bridge the annual housing deficit in Nairobi, while meeting the rising demand for gated communities,” the Chairperson of SIC Mackrine Abukah expressed.

Abukah noted that “the pricing of the houses will range from Sh6.6million for 3 bedroom and Sh5.6million for 2 bedroom units respectively.”

The other planned areas of investment include development of affordable housing, value addition in agricultural produce and student accommodation projects.

The 300 housing units dubbed Blue Bells Garden will be constructed in two phases, which will all be completed in 2015 on a five acre parcel of land.

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