NSSF's Nyayo Estate in Embakasi, Nairobi. PHOTO | FILE
What you need to know:
Shops and houses in Nyayo Estate Embakasi are available to cash buyers and tenant purchase applicants.
NSSF scrapped a first-come-first-served rule that favoured anyone who could raise a ten per cent deposit .
In 2008, six Cabinet ministers were among over 4,000 people competing for 674 housing units.
The National Social Security Fund has put 49 shops and houses up for sale in Embakasi under the same controversial terms that saw dozens of units snapped up by politicians and connected individuals in 2008.
In an advert published Sunday, NSSF has announced that shops and houses in Phase Six of the Nyayo Estate housing project are available to cash buyers and tenant purchase scheme (TPS) applicants. Those interested have a two-week window to apply, the notice said.
However, NSSF Managing Trustee Richard Lang’at advises that “priority will be given to outright cash purchasers while TPS purchasers will be considered in order of the highest deposit paid”.
These are the same terms that skewed past allocations in favour of the wealthy.
In 2008, six Cabinet ministers –- including Mr John Munyes who led the Labour ministry under which the workers’ fund falls -- were among over 4,000 people competing for 674 housing units in Phase Two of the same development.
Initially, the shops and houses were to be sold on a first-come-first-served basis to anyone who could raise a ten per cent deposit and become a tenant buyer. This was, however, changed to favour those who could pay the full amount (then between Sh3.85 million and Sh6 million), whether or not they had any intention of living there.
As a result, multiple units were allocated to wealthy businessmen and people with ties to Government or NSSF officials. NSSF was also accused of allocating units to individuals who missed the application deadline.
Some tenant purchase hopefuls, meanwhile, complained they were not given enough time to arrange mortgages that would let them pay in full.
The units being offered include 35 residential and 14 commercial units. Sixteen of the residential units are one-bedroom apartments priced at Sh5.5 million (about $63,000), while 19 are three-bedroom maisonettes selling for Sh12.5 million ($143,000). The shops can be had for between Sh4.5 million and Sh16 million ($51,000-183,000). All will be ready for occupation between September this year and May next year.
NSSF had not responded to Business Daily's requests for a comment by 10am Monday.
In February this year, it emerged that buyers of some 1,810 units in Phases Three, Four and Six would be forced to pay more to allow for an unexpected Sh500 million increase in construction costs.
Nyayo Estate, Embakasi, a housing project aimed at middle-income earners, is located near the Jomo Kenyatta International Airport, some 20km from Nairobi’s central business district.
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