The National Housing Corporation (NHC) has entered into a Public-Private-Partnership (PPP) with International Financial Corporation (IFC) to construct 3,000 housing units in Machakos County.
According to the Corporation Managing Director David Mathu, the multi-billion project would be undertaken in 150 acres with future plans to make it a City.
The MD said that through the strategic plan 2023-27, the corporation also seeks to construct over 110,000 housing units in the country as part of the Universal Housing Programme.
In addition, the MD said the corporation was undertaking another 17 housing projects across the country noting that it seeks to contribute 10 per cent to the 1m housing projects by the year 2017.
This emerged when the corporation signed an MOU with Machakos University to construct over 3,000 units of hostels at the institution at a cost of Ksh 1B.
The programme is meant to set to address the current housing crisis in the institution that has only 500 hostels against a population of 12,000 students.
“We plan to inject Ksh 1B towards the initial operationalization of the partnership between the university and the corporation to actualize the 3,000 rental units,” said Mathu.
Mathu said the partnership will see the university benefit from low-cost, sustainable housing units and was part of the institution’s partnership to address the gap in housing in universities.
According to the institution Vice Chancellor Prof. Joyce Agalo, the lack of adequate hostel units had locked students from key research ICT facilities and mounting insecurity outside campus.
Agalo said the project which will see the construction of the conducive and sustainable hostels within one year was the first to be agreed on between a local University and the corporation.
“The construction of 3,000 hostel units will help us accommodate more students on the campus from the current 500 units out of 12,000 students enrolled in our institution,” said Prof. Agalo.
Speaking in Naivasha during the signing of the MOU, she noted that the institution was working with NHC in other areas including the research and construction sector.
On his part, the Corporation Board Chairman Yusuf Shanzu noted that universities have been plagued with inadequate financing that requires a prompt solution.
Shanzu said that by signing the partnership, Machakos University would benefit from the ongoing low-cost hostel units as compared to the expensive private themed rental units.
“Kenyan Universities have been facing inadequate hostel units in the country and this partnership speaks to the right decision,” said Shanzu.
