Home ECONOMY Urithi Housing dismisses auction claims on its housing projects

Urithi Housing dismisses auction claims on its housing projects

by biasharadigest


Urithi Housing Co-operative’s Panorama Gardens Project, is not up for sale by any bank, society Chairman Samuel Maina has said.                   The clarification comes amid reports that the project is set to be auctioned claims Maina said are malicious and unfounded.
The project on a 104 acre piece of land is located along Gatanga road, approximately 6km from the Thika Superhighway.
According to the Chairman the land was acquired after Urithi agreed to buy out a bank Loan and agreed on a 5 year repayment plan.
Maina says the project remains the property of Urithi Housing saying they have had fruitful deliberations between the society Secretariat and the Bank on repayment of the loan where members who have invested in the project were also involved.
He said Urithi Society has for the last three years serviced the loan and they have agreed terms with the bank on the clearance of the balance.
In regard to the Olive Tola Phases 3 and 4 Project, Maina said they have already held meetings with members of the Project and agreed on the acceleration of payments to the vendor.
“This has been an ongoing process which culminates to the issuance of title deeds,” he said.
Through the support of members, Maina said the society has completed and handed over more than 1,000 affordable housing units and over 6,000 title deeds to their investors across the country.
He said that the society is currently at various stages of completion of four housing projects which will be handed over in the coming months.
The housing projects include Nyumba Mia Utange in Mombasa, GEM II Witeithie in Juja, Nyumba Mia in Rongai and the Osteen Terrace Gardens in Joska.
“We reiteriate our unwavering commitment to professionalism, openness and delivery and encourage our members to contact us for updates on the various projects we are carrying out,” he said.
The Chairman has also urged Urithi members to protect the society’s model of “pulling resources together” which enables the society to offer affordable housing solutions to Kenyans.
“This unique model provides the most affordable way of house and property ownership in our Country as it is friendly and gives members an opportunity to choose where to invest.” he added.
Maina said Urithi has completed and handed over houses from as low as Ksh 495,000 for self-contained studio apartments, to Ksh 3.6M for a three bedroom bungalow to its members.


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