THE Safaricom Investment Cooperative is developing a Kshs 1.0 billion shilling housing project in Mlolongo dubbed Blue Bells Gardens. Blue Bells Garden is the Cooperative’s first housing project and the only one of its kind in Mlolongo.
The 300 unit project is being put up in partnership with the Co-operative Bank and is expected to be fully completed in 2015.
The phase one of the two-phase project will build 160 units while in the phase two, 140 units will be build. A three-bedroom flat will retail at Kshs 6.6 million while a 2-bedroom unit will cost Kshs5.6 million.
Blue Bells Gardens is a top of the range residential facility nestled along the busy Nairobi-Mombasa Road Highway and ICT center. It will have a world class health care facility and a commercial center with large open spaces for children’s play grounds.
Ms. Mackrine Abukah, the Chairperson of Safaricom Investment SACCO announced that it is inviting non-safaricom staff to join the SACCO. To join one needs to pay a subscription fee of Ksh 6 000 and a monthly subscription of kshs 325.
She also announced that the SACCO is open for Kenyan in the diaspora whom they are inviting to invest in the Mlolongo housing project either as buyers or investors in the SACCO. The modalities for Diaspora membership are being worked out, she said. Apart from the Mlolongo development, the SACCO also owns plots in Kajiado, Nanyuki, Kisumu and Machakos on which she develop houses for sale.
At the end of last year, the SACCO had a capital base of Kshs.503.78million up from Kshs.273.13million in 2011.
The development is targeting middle to upper income earners working in Nairobi and Machakos counties. She is targeting Kenyans in the diaspora to help them invest in housing and help curb the runway housing shortage in Kenya. Kenyans in the diaspora have been duped by dishonest people in the past.