Market News
Naivasha housing scheme targets Sh15,000 earners
Thursday, October 31, 2019 13:05
By MACHARIA MWANGI
The proposed Naivasha Affordable Housing Unit will target income earners within the bracket of between Sh15,000 and Sh150,000, governor Lee Kinyanjui has said.
Speaking in Naivasha during a ‘request for qualification’ forum yesterday, he promised a transparent and open process in the choice of beneficiaries.
“Once completed, the beneficiaries of the project will be selected in a free and fair process, in accordance with the national government guidelines.”
The scheme on Nairobi-Nakuru highway near GK prisons will generate at least 2,400 housing units.
Mr Kinyanjui said upon completion, individual borrowers will access long-term housing loans, leading to a lower monthly repayment with and improved disposable incomes.
The project will be built on a 55-acre land recently acquired by the devolved unit.
It will be implemented through a joint venture between the county government as a minority preferential shareholder by virtue of its land contribution.
The governor blamed the proliferation of the informal settlements on poor planning, saying the county was keen on addressing the anomalies to enhance service delivery.
He described Naivasha as a fast-growing commercial hub, with a thriving hospitality industry, agricultural sector and a soon to be established dry port.
“Other mega projects include the development of the proposed water front and the upcoming Lanet airport,” he added.
He told journalists a slaughterhouse located within the land earmarked for the project will be moved.
The World Bank is providing the technical assistance to the county, with lead financial sector specialist Simon Walley hinting at plans to improve the investment climate.
The Naivasha project is linked to the Department for International Development’s Urban Economic Development programme supporting emerging centres in Kenya.
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