Urithi Housing Cooperative will complete and hand over all housing projects currently under construction in 12 months.
Three of the pending projects, namely Utange-Mombasa, Gem2 and Rongai Homes are set for completion in the next quarter for handing over to the members.
Urithi has over the past six years, completed and handed over thousands of housing units in Spring views Thika, Plainsview in Juja, Gem1 in Witeithie and Lanet homes (Nakuru and Juja).
Chairman Samuel Maina says occasional delays in some projects due to some members being unable to lay their subscriptions on time has forced the cooperative to be innovative as to change their mobilization and conceptualization strategies that have previously slowed down and caused delays in delivery.
“The new strategies will now enable us clear the entire housing backlog and our members should not be worried of any further delays,” said Mr. Maina.
“The OTG project is the first-of-its-kind will enable us to achieve affordable housing for our members and we are using the socio-economic model.
“This particular project [OTG] is very timely and it will hugely complement the government’s efforts in attaining the big 4 agenda –the housing component, by engaging other stakeholders like us.”
President Uhuru Kenyatta’s Big FourAgenda focuses on expanding the manufacturing sector, Universal Health Care, Food security and Affordable housing.
Under the affordable housing pillar, the government through the National Housing Corporation and collaboration with the private sector intends to construct 500,000 units annually by using innovative construction methods and low-cost building and construction materials.
“The government will achieve its dream fast if they partner with the saccos and cooperatives. Cooperatives and Saccos have structures, a wide geographical reach and most importantly members,” avers Mr. Maina, who believes affordable housing is a major milestone towards achieving the other three pillars of President Kenyatta’s legacy plan.
The model is entirely dependent on members, whose contributions are key and vital in initiating and executing the envisaged project. The payment plans vary from 12 – 48 months of flexible subscriptions.
“Speed is determined by how fast you get money from members. But due to the uncertainty and unpredictable nature of contributions and cash flows we adjust accordingly,” he added.
Urithi Chairman said, “The pricing does not change over time simply because the model mitigates on the cost of labor, land and materials hence making it affordable without changing the initial price.”