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University Sacco Transforming Members to Home Owners

Jacquiline 3 years ago
Photo: Business Daily

Laikipia University workers are close to realizing their dream of becoming home owners from their hard earned savings through their society.

The University’s Staff Housing Co-operative Society members have acquired a 30-acre piece of which they intend to construct residential houses in the upcoming Milimani Estate nearby one of Laikipia’s major town, Nyahururu.

The chairperson of the society, Dr Kiogora Kiugu, asserted that the institution has three ongoing projects, Nyahururu being the first to be fruitful.

“We want to put up a gated community housing at the proposed Milimani estate in Nyahururu so that our members can own homes,” Dr Kiugu said.

 According to him, the 30-acre piece of land has been sub-divided into 114 quarter acres meaning it has 114 beneficiaries who are both contractual and permanent.

This happened recently at an event presided over by Laikipia Governor, Ndiritu Muriithi where the members were issued with title deeds.

The Sacco’s other two projects are in Nakuru County at Gicheha farm and Ngata areas. The Ngata project has 106 members onboard while the Gicheha farm project has 47 members who also plan to become home owners on the 15-acre piece of land as stated by the chairperson.

“The Nyahururu project cost every member Sh287,000 for a quarter piece of land. The project started four years ago. The land value appreciated significantly since then.” He remarked.

 “We are now planning to develop the properties where we will also have public amenities like hospitals, schools, among others,” the Sacco leader disclosed.

The Sacco will execute this by building residential houses comprising of apartments and maisonettes.

SOURCE: https://www.businessdailyafrica.com/corporate/enterprise/How-university-Sacco-is-changing-lives-of-members/4003126-4966642-ua5vn4z/index.html

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