BusinessNews

President Ruto says low income earners will now own homes

Low-income earners will now own a house in a new Government plan that targets slum dwellers.

The housing units will allow monthly payments of as low as Sh2,400 for a one-bedroom apartment.

Under the tenant purchase scheme, the two-bedroom and three-bedroom apartments will go for Sh4,600 and Sh6,500 a month, respectively.

It will attract a three per cent interest rate.

President William Ruto said the shift in the delivery model for social housing will relieve ordinary Kenyans of the burden of owning a house.

“It also enables us to open up our economy and use housing to drive sustainable development,” the President noted.

Speaking on Tuesday during the launch of the proposed Kibera Soweto East Zone B Social Housing Project in Lang’ata, the President added that such projects will hasten slum upgrading in the country.

The President noted that the Kibera Soweto B will construct 4,054 units.

“We want all Kenyans to live a dignified life,” he noted.

Related posts

Thousands face evictions as court restores grabbed Njiru land to the Kirima family

NewsToday

Activists wants Ruto to return the ban on GMOs to protect the health of Kenyans and the food system

News Today Reporter

Relief to parents as government releases Sh 9.6 billion for Junior Secondary schools

News Today Reporter

Leave a Comment