Co-operative to build Sh750 million residential houses in Kiambu 

In line with the Governments’ ‘Big 4’ Agenda on affordable housing, Safaricom Investment Co-operative (SIC), is set to begin the construction of a Sh750 million real estate project in Ruaka, Kiambu County, to meet the growing need for affordable housing in the County.

Dubbed ‘The Miran Residence’, the three-acre urban development nestled in the Western By-pass, is an integration of modern and sustainable infrastructure and architecture, regulated by the Ministry of Cooperatives.

Speaking, today, during the launch of the project, Commissioner for Cooperatives, David Obonyo, said the project aims at reaching as many people as possible to own affordable houses in the Country.

The Commissioner hailed the efforts by SIC, for the role it has played in uplifting the lives of its members assuring that the Government will continue to create a conducive environment through sectoral reforms, to ensure that co-operative societies such as Safaricom Investment Co-operative continue to grow.

“Co-operatives have over the years been very instrumental in uplifting the economy of the country by offering desirable investment solutions to their members. Despite the difficult period the world experienced during the Covid-19 pandemic, many co-operatives have remained resilient and have continued to grow.,” said David Obonyo.

Safaricom Investment Co-operative CEO, Sarah Wahogo, said that the project does not only give affordable housing, but also of good quality, promising investors and home-buyers of a quality development.

“Ruaka is known for its beautiful landscape and cool climate and has an endless array of activities to enhance residents’ everyday lifestyles. Given that it is only ‘20 minutes’ drive from Nairobi CBD and with access to amenities like shopping malls, hospitals and schools all-round, The Miran Residence is an ideal investment for people looking to invest in a family home or looking to put-up an investment like an Air BnB,” she said while describing the project hallmark of all Safaricom Investment Co-operative developments.

She said the development will comprise of 450 units made up of studio apartments, selling at Sh2.75 million, studio lofts at Sh3.9 million, one-bedroom at Sh4.45 million and two-bedroom apartments selling at Sh5.9 million.

The development also, Wahogo said, includes holistic wellness facilities, a fully equipped gym, a kids’ play area and a jogging track, promoting the ever-growing desire for an all-round lifestyle.

According to a Hass Consult Report released this month, Ruaka solidified its position as the largest supplier of apartments in the satellite towns, accounting for 30 percent of all advertised units. Ruaka has, therefore, become the largest stockholder of apartments within the satellite, as it presents the ability for the working population, to enjoy both housing affordability and reduced transportation costs, due to its proximity to the City.

The Miran Residence is the 5th housing project by Safaricom Investment Co-operative Society, with the other housing projects including Ruaka Ridge in Ruaka, BlueBells Apartments in Syokimau, Kantafu Serene Homes in Kantafu and Rongai Villas in Rongai.



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