Aspirant Mbaru unveils Nairobi County masterplan

The National Alliance (TNA) Nairobi Governor aspirant Jimnah Mbaru has unveiled his blueprint for the County chief among them the construction of 500,000 low cost houses.

The houses, which will be put up in over 2,000 acres of council land currently unoccupied, will cater for city dwellers who are single or have small families.

“Seventy-per-cent of people living in Nairobi are below the age of 35. All they need are bedsitters or one-bedroomed houses and this is where the critical demand is and they want to rent, not to buy, at an affordable rate,” Mr Mbaru said while launching his master plan at Hilton Hotel, Nairobi Wednesday.

The businessman said rent will range between Sh2,500 to Sh4,500 per unit.

“We expect that this will also create a boom in the middle class housing sector and create opportunity for private developers to build world class living areas for the residents and workers of this city,” he said.

Purchase shares

He intends to get funding for the project by establishing Real Estates Investment Trust, which Kenyans and other interested investors will be able to participate in by purchasing shares.

Other than the investment plan, the former Nairobi Securities Exchange chairman will also re-introduce municipal bonds into the market with the hope of generating Sh10 billion each year for the next five years.

Mr Mbaru will on Thursday challenge former Embakasi MP Ferdinand Waititu and former Nairobi Town Clerk John Gakuo for the TNA ticket at the nominations ahead of the March 4 General Election.

On Tuesday, three other aspirants for the TNA Nairobi governor seat stepped down in Mr Mbaru’s favour.

Nairobi Central Business District Association chairman Timothy Muriuki, former Kasarani MP Lee Muchiri and Chege Waweru said they were confident Mr Mbaru's business mettle will enable him serve the city.

Another item that ranked high on his agenda is the transformation of Nairobi into Africa’s business capital, which Mr Mbaru said can be achieved through a 24-hour economy.

During the press briefing, he announced that he will name his running mate once he clinches the TNA ticket at the party primaries and will lend a listening ear to the youth.

“I will create the position of Youth Governor who will shadow the Governor and be the voice of the youth. This person, who will be chosen by the youth, can be from any political divide,” he said.