The World Bank has settled on Nakuru County to pioneer the delivery of the affordable housing units as promised by President Uhuru Kenyatta in his Big Four agenda.
The global lender, which was contracted by the National government to come up with the roadmap that would help deliver the President’s legacy, said Nakuru County had the most critical infrastructure required for the establishment of the housing units.
The Nakuru County government had already offered a 50-acre land along the Nairobi- Nakuru Highway for the delivery of the houses. According to the World Bank’s Financial Sector Specialist Hadija Kamayo, the area has available energy, schools, health centers, and water connection. It also offers proximity to the highway.
Nakuru county has in the recent past experienced sprouting property development as investors project themselves to the extension of the Standard Gauge Railway, KenGen’s proposed business park as well as the planned mega industrial park to be established in the county by the Ministry of Industrialization.
According to the estimates by the Washington- based institution, the project can deliver about 3,000 units at a projected cost of Sh5 billion. The bank, however, says it will be delivered in phases to accommodate the participation of local developers.
The Nakuru County Government which will have a preferential shareholding after donating the land, will, however, invest back its dividends through the purchase of new land or servicing the existing ones to ensure they are sustainably attractive.
“What we are telling the county government is to protect this money in some escrow account,” explained Kamayo.
The bank also revealed that Laikipia would be the second county to have the housing project implemented, with piloting already ongoing on a 15 acres land in Nanyuki. In total, the bank has already pointed out over 23 counties for the delivery of affordable housing units.
The government has lifted the burden of purchasing land off the shoulders of the private developers, making the cost of construction cheaper.
Besides the delivery of affordable housing units by 2022, President Uhuru Kenyatta has promised to deliver stable food security, affordable, and boost manufacturing to create jobs.
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