National Social Security Fund to build houses in the counties
What you need to know:
- NSSF managing trustee Richard Langat has received proposals from Nakuru, Nyandarua, Mombasa and Wajir counties.
- Isiolo County had identified 50 acres of land for housing and commercial units, Mr Langat said.
The national pension scheme will work with counties to build houses in order to diversify its assets base outside Nairobi.
The National Social Security Fund managing trustee Richard Langat has received proposals from Nakuru, Nyandarua, Mombasa and Wajir counties.
“We’re in talks with these counties to develop properties to house county offices as well as houses for the public,” he said during the second annual general meeting held in Nairobi on Friday.
Isiolo County had identified 50 acres of land for housing and commercial units, Mr Langat said.
He added that there were plans to development residential houses valued at Sh1.5 billion in Kisumu.
“Each proposal will be subjected to due diligence in terms of return on investments,” Mr Langat noted.
Fund chairman Adan Mohamed said the cost of setting up infrastructure at Tassia Estate, in Nairobi would be met by the plot owners.
“We are not going to use members’ money to do the infrastructure. For those not willing to pay, we will repossess the land,” Mr Mohamed said.
The upgrade of Sh5.03 billion had been awarded to China Jiangxi company in March.
