Kenya: Safaricom Investment Co-operative Launch $6.4 Million Real Estate Project

Kenya: Safaricom Investment Co-operative Launch $6.4 Million Real Estate Project (News Central TV)

Safaricom Investment Co-operative plans to start construction on a KSh750 million (US$6.43 million) real estate project in Ruaka, Kiambu County, to meet the county’s growing demand for affordable housing.

The three-acre urban development, dubbed The Miran Residence, is nestled in the Western end of the Nairobi Bypass and combines modern and sustainable infrastructure and architecture.

The development will have 450 units, with studio apartments selling for KSh2.75 million (US$23,564), studio lofts selling for KSh3.9 million (US$33,419), one-bedroom apartments selling for KSh4.45 million (US$38,132), and two-bedroom apartments selling for KSh5.9 million (US$50,557).

The development includes holistic wellness facilities, a fully equipped gym, a children’s play area, and a jogging track, all of which promote the ever-increasing desire for an all-around lifestyle.

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“Ruaka is known for its beautiful landscape and cool climate and has an endless array of activities to enhance residents’ everyday lifestyles. 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,” said Safaricom Investment Co-operative CEO Sarah Wahogo.

Safaricom Investment Co-operative CEO Sarah Wahogo

According to a Hass Consult report released earlier this month, Ruaka has cemented its position as the largest supplier of apartments in satellite towns, accounting for 30% of all advertised units.

The commissioner of co-operatives, David Obonyo, praised Safaricom Investment Co-operative for its role in improving the lives of its members.

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“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.

“As a government, we will continue to create a conducive environment through sectoral reforms to ensure that co-operative societies like Safaricom Investment Co-operative continue to grow,” said David Obonyo.

The Miran Residence is Safaricom Investment Co-operative Society’s fifth housing project. Ruaka Ridge in Ruaka, BlueBells Apartments in Syokimau, Kantafu Serene Homes in Kantafu, and Rongai Villas in Rongai are among the other housing developments.

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