URITHI LAUNCHES 'NYUMBA MIA INNITIATIVE'

Urithi Housing Co-Operative Society which has launched a Sh1 billion project to put up houses in Nakuru, Thika, Juja, and Kitengela, dubbed “Nyumba Mia initiative” that seeks to build 1000 homes in across the country every year. Under “Nyumba Mia” project, Urithi will construct 100 houses as it seeks to boost revenue through residential developments. The units will be three-bedroomed going for Sh2.8 million. Unlike previous projects funded by local lenders, the project will be financed through internal cash. It will target both members and non-members. The houses are expected to be completed by the end of this year and will stand on a 100 acres bought through member’ contributions. Currently, the society has 7,000 members. The groundwork has already started in Thika, Kitengela and Juja with Nakuru expected to kick-off in the next two weeks. Sacco members will contribute 50% to the cost with Urithi footing the balance, to be paid through instalments by buyers. Last year, Urithi also launched a Sh1 billion residential project in Kilimambogo in Thika.