BY NBM WRITER
Construction of phase one of Safaricom Investment Co-operative’s off-plan residential project, The Miran Residence, is expected to be complete by mid-2024, with phase two set to start by the end of 2023.
Phase one of the project, which sits on 1.2 acres of the 3.5 acres of the land, will comprise 200 units of studio, studio lofts, one-bedroom, two-bedroom apartments ranging from Sh3.2 million to Sh6.5 million.
“The project is on course, and this has been enabled by our dedicated contractors, and the technology we are using to construct the houses,” Safaricom Investment Co-operative unit manager housing, Daniella Nyakuraya, told a battery of journalists on May 13.
“Studio is 34 square metres and costs Sh3.5 million, studio loft which is 43 square metres is at 4.3 million, the one bedroom which is 46 square metres is at Sh5 million, and the two bedroom is 64 square metres at 6.5 million,” Ms Nyakuraya said.
She noted that the studio lofts are 100% sold out with clients expressing delight at the design that is “unique and very suitable” for single individuals or those looking to invest in the recent high demand of Airbnb investments.
The construction of the houses is accelerated by aluminium formwork technology which entails forming a cast panel in place of concrete structures in a building, which ensures completion of one floor within seven days, while giving a clean finish and durable structure. Forming of the cast of the formwork can then be used to replicate the rest of the building, making it faster, more efficient, and cost-effective.
“With this technology, our clients are assured of quality products and a project that will be completed at the specified time,” Ms Nyakuraya said.
The off-plan project has made it possible for investors to take their time in paying for their investment during the construction period. The investment co-operative has also partnered with financial institutions to ensure their members are able to achieve their dream of owning a home without any constraints.
The Miran Residence, which is around 20 minutes drive from the Nairobi CBD, is close to amenities like hospitals, private and international schools, malls like Two Rivers, Roselyn Riviera and Village Market, banks, and places of worship. The area is also home to several five-star resorts like Tribe Hotel, Trademark Hotel and Windsor Hotel providing additional luxury spas, lively entertainment, and fine dining experiences.
It is tucked a way in Ruaka, Kiambu County, and is the sixth housing project by Safaricom Investment Co-operative – the society was established in 2009 to seek out various investment opportunities for the benefit of its members and enlists the help of current and former employees of Safaricom Ltd as well as the general public to fill its membership. The other housing projects include Bluebells apartments in Syokimau, Ruaka Ridge, Rongai Royal Villas, Kantafu Serene Homes and Kitisuru Villas. .