Kisumu’s Makasembo Estate Residents signs MoU for affordable housing project

Kisumu Governor Prof Anyang' Nyong'o{C} after signing MoU with LAFUND and the Makasembo Estate Residents in Kisumu today on the Affordable Housing to be built in the area-Photo By Dickson Odhiambo

 

By Dickson Odhiambo

March 11, 2021

Kisumu’s Makasembo Estate Residents signs MoU for affordable housing project

RESIDENTS of Makasembo Estate have today signed a Memorandum of Understanding that has paved the way for the construction of Affordable Housing Project within the area.

The Residents represented by the Makasembo Residents Association have signed the MoU between them, County Government of Kisumu and the Local Authority Provident Fund {LAPFUND} construction of affordable housing within the Estate.

Addressing the participants in Kisumu today during the MoU Signing ceremony, Kisumu Governor Prof Anyang Nyong’o said the project of the Affordable Housing aims at formalizing the housing in Kisumu so that the residents can stay in affordable houses.

Nyong’o says this is in line with Article 43 of the Constitution of Kenya 2010 which give Kenyans the right to access and adequate housing coupled with reasonable standards of sanitization.

Nyong’o says there is need to give dignity and respect to the people through giving affordable housing.

“We must give our people affordable housing as this a show of respect and dignity to the residents of Kisumu,” Nyong’o says.

Nyong’o says within the next 10 to 15 years from now no resident of Kisumu should be living in a house called an informal sector.

“We don’t want to live in an environment where when somebody comes he is in the other half of Kisumu. We want all the haves to have adequate livable urban spaces and this is the aim,” Nyong’o adds.

LAPFUND Chief Executive Office David Koross says the project is geared towards urban regeneration in Kisumu County, adding that they are doing it in partnership with the County Government of Kisumu.

He adds that it is part of the Big Four Agenda on Affordable Housing.

He says once the plans have been approved, the construction work will commence by next month of April at the site.

He says members of the Lapfund can also purchase the houses once completed, adding that there is already customers base.

Koross says the project will be completed after two years from its launch.

“Get prepared because we will not let you down on this project and we will do our level best to deliver this,” he says.

This comes barely two months after the Laptrust and the County Pension Fund in collaboration with the County Government of Kisumu signed a Memorandum of Understanding that signals the commencement of 3.8 Billion Affordable Housing Project.

The project dubbed Anderson-Ofafa Affordable Housing Project is the first one outside Nairobi.

The LAPTRUST/CPF Group Managing Director and CEO Hosea Kili said the project is one such real estate investment for the Lake side City of Kisumu.

Addressing the press during the signing Ceremony at Mama Grace Onyango Social Center, Kili said construction of over 1,200 decent and affordable housing units is designed in line with both the National and Kisumu County Governments’ affordable housing agenda.

He noted that demand for new housing units especially in urban areas has been estimated at 250,000 units against an estimated supply of 50,000 housing units.

He said out that the housing segment of the Big 4 agenda presents an opportunity for pension funds to provide decent and affordable housing, stimulate economic growth and spur industrial growth thus creating employment while lifting the standards of living for our people.

“LAPTRUST and the County Pension Fund - strongly believe in leading the way in coming up with innovative ways of solving problems; for the benefit of our members as well as our stakeholders. We, in line with its objective of delivering sustainable returns to its members has a diversified investment portfolio that includes affordable housing, as a way of unlocking value on existing properties across various counties,” he said.

He said the concept of street commerce which is at the heart of Kisumu City’s economy has been embedded in the proposed project by way of providing retail shops along the major access roads within the project.

“The MoU signed here today officially commits the County Government of Kisumu and Laptrust/ The County Pension Fund to developing the Anderson-Ofafa Affordable Housing Project,” he further says.

Kisumu Governor Prof. Peter Anyang’ Nyong’o says such a project will not only provide decent and affordable housing to the residents of Kisumu but will also go a long way in providing employment to thousands of youth and women through provision of labour, supply of building materials and catering services to the construction workers among others.

 

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