Cooperative to build residential houses Ksh 750M in Kiambu

In line with the government’s ‘Big 4’ program on affordable housing, Safaricom Investment Co-operative (SIC) is set to commence construction of a Ksh 750 million housing project in Ruaka, Kiambu County, to meet the growing need for affordable housing. 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 at the launch of the project on Friday, Co-operatives Commissioner David Obonyo said the project aims to reach as many people as possible to own affordable homes in the country.

The Commissioner commended the efforts of SIC, for the role it has played in improving the lives of its members, assuring that the government will continue to create an enabling environment through sectoral reforms, to ensure that cooperative societies such as Safaricom Investment Co-operative continue to grow.

“Over the years, co-operatives have been instrumental in building the country’s economy by providing desirable investment solutions to their members. Despite the difficult times the world has experienced during the Covid-19 pandemic, many cooperatives have remained resilient and continued to grow,” said David Obonyo.

Safaricom Investment Co-operative CEO Sarah Wahogo said the project not only offers affordable housing but also good quality and promising investors and buyers of quality development.

“Ruaka is known for its beautiful scenery and cool climate and offers an endless array of activities to enhance residents’ daily lifestyle. Given that it is only a 20 minute drive from Nairobi CBD and with access to amenities such as shopping malls, hospitals and schools all around, The Miran Residence is an ideal investment for people who looking to invest in a family home or looking to put- an investment like an Air BnB,” she said while describing the hallmark of all Safaricom Investment Co-operative developments.

She said the development will comprise 450 units consisting of studios, selling at 2.75 million shillings, studio lofts at 3.9 million shillings, one bedroom at 4.45 million shillings and apartments of two bedrooms selling for 5.9 million shillings.

The development, Wahogo said, also includes holistic wellness facilities, a fully equipped gym, children’s play area and jogging track, fostering the ever-growing desire for a complete lifestyle.

According to a Hass Consult report released this month, Ruaka has cemented its position as the largest provider of apartments in satellite cities, accounting for 30% of all advertised units. Ruaka has therefore become the largest shareholder of apartments in the satellite, as it offers the opportunity for the working population to enjoy both affordable housing and reduced transport costs, due to its proximity to the city.

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