Residential Projects
Work Begins on Sh3.5bn Makasembo Estate in Kisumu
Century-old estate will be upgraded into 1,870 modern units.
Work is finally underway on a Sh3.5 billion project that seeks to convert the 100-year-old Makasembo Estate in Kisumu into a modern habitation.
Located next to Moi Stadium in Kisumu, the project is a joint venture between Lapfund – a retirement benefits scheme for county workers – and the county government of Kisumu.
Under the deal signed in March 2021, the county will provide land and develop infrastructure, including electricity, water systems, and sewers; while Lapfund will provide the finances.
The 11.6-acre development will include seven multi-storey buildings with 1,870 one-, two-, and three-bedroom units with 1,754 parking slots.
Under low-cost housing, 570 units with 544 parking lots will be set up, including 180 one-bedroom units, 100 two-bedroom units and 290 three-bedroom units.
The medium cost segment will include 1,300 units with 1,210 parking lots – categorised as 600 two-bedroom units and 700 three-bedroom units.
High-speed lifts
The Makasembo Estate Kisumu will also have pre-schools, borehole, solar power, high-speed lifts, landscaped gardens as well as communal playgrounds.
RELATED: Inside Mombasa’s Sh19bn Affordable Housing Project
A one-bedroom unit will be sold for Sh1.8 million with two and three-bedroom units selling for Sh2.7 million and Sh3.8 million, respectively.
The project will be completed in 24 months.
According to Kisumu Governor Anyang Nyong’o, Makasembo Estate and other ongoing housing projects in the area will give Kisumu City a new look.
“We are rebuilding Kisumu and mean well for our people. In the next two and half years our people will have modern houses,” Prof. Nyong’o said.
First priority
A total of 125 residents who were given Sh96,000 each by Lapfund to relocate from the old estate will be given the first priority to acquire the new homes.
“We want to advise affected tenants to start paying for the houses early enough,” Lapfund chief executive David Koros said.
The Makasembo Estate project seeks to meet the rising demand for housing in Kisumu while supporting the State’s Big 4 Agenda on the provision of affordable housing.
Mukuru Affordable Housing Handover Set for December
Bedsitters will rent for Sh3,200 per month on a 30-year rent-to-own plan.
Developer Unveils Sh30bn Gated Estate in Kiambu
The 240-acre Kofi Ridge estate in Ruiru, Kiambu, will be completed in 25 years.
Trump’s $3 Billion Condo Project Advances in Florida
Initial approval granted for Donald Trump’s luxury condo in Doral.
Benson Ndeta Withdraws Sh28bn Bamburi Takeover Bid
Amsons Group offered Sh23.6bn to acquire 100% of Bamburi shares.
KenGen Seeks Sh590bn to Add 1,500MW to National Grid
The company has secured financial backing for a 300MW geothermal project.
Turkish Firm Begins $3bn Uganda Railway Project
Yapı Merkezi is expected to complete the 272-kilometre railway in 48 months.