wanajua kumaliza kazi after 10 years and cutting corners
Mr. @gashwin ? Its a 10/10 this one :D:D:D:D
$7b… KES 700b… Jesus Christ! ! All this money will be sent to China. This government ain’t serious.
Lakini yenyewe hata kama tunatetea local firms, yaani hakuna Kenyan firm in Kenya’s 50year history walifikiria kujenga factory kama hii? Kina Mugoya walikula pesa ya NSSF na sai they are nowhere.
tell that to a fellow who lives in a mabati and cardboard structure on the fringes of kayole…by the way low cost housing is not for you birrionaire…
That comment about hearing neighbours taking dumps… @horseguard I do hope you do not really believe that it happens like so in those ‘slum estates’… Seriously. Or that comment was tongue in cheek. If not…
Ngara will be transformed in the next five years, at least land near the CBD will be utilized well and this also creates another business zone in Nairobi. I like this.
50 years should be enough to build a vibrant, innovative, selfsustaining economy, it is not just construction that is lagging behind, manufucturing too, agriculture, notice how banks have been unable to tailormake credit facilities for SMEs in the interest caps regime, we have been unable to support the private sector to effectively serve all Kenyans.
I saw a documentary on Sankara of the Land of Upright Men, he led his nation in building their own railway, made me think we the SGR construction from Msa to Malaba should be the only one built by Chinaman, we should have gained the expertise to build the damn railway by that time
My only problem is the 99 year lease , it should have been 25 years only, that’s enough time to recover their costs and profit then revert the houses to GOK
At this rate they are getting free land for life!:eek::eek:
99 yr lease is for the unit owner not chinaman,the rent to own social housing will be owned by govt.
This is what @spear said “GoK isn’t spending anything on this project, its just providing a [SIZE=6]99 year lease to the firms.[/SIZE]”
That’s a life time and does raise some concerns
hehe. he’s now a darling just because of computer generated pics?
Not all the land, only 30% is for the developer to build high end apartments for sale or rental at higher market rate to recover his cost of investment for building the whole project. 70% of the property goes to National government.
Okay, I stand corrected.
The land comes with a 99 yr lease, once the developer completes the units and transfers the units to the national housing fund,the developer has no more claim to the land, now the people who purchase the properties will have fractional ownership of the 99 yr lease.
Could this not have been a joint venture operation? Why not build local capacity with NYS, Kenya Army Engineer Corps. No one builds a Ksh 10 billion factory for “free”, it can be seen as a means to maximise their return on investment (shipping lead time, costs of transportation and logistical challenges). Why can’t our approach be like the below and realise that when its all about China, we’re not doing ourselves any favours. We will be the ones to pay at the end of the day from our pockets
Why do it on your dime while you can do it on somebody else’s? JVs cost money and are not always ideal.
The point of a JV is that you get to build local capacity and own a part of something tangible. You do not have to come to the JV with cash, you can provide land, labour, provide tax holidays as part of the JV input. Teach a man to fish and he will be able to feed himself for a lifetime, throw him a fish and he will be hungry tomorrow. India for example is where it is today industrially because of its prior strict requirements.
We are joking around with local unemployment being at 40%. Someone else’s money is never free. Why build houses and a majority of the people supposed to buy them do not have jobs? We issue Eurobonds but forget that not only do we have to pay the principal, but there is something known as interest. When we fail to pay on time, we borrow again forgetting that our debt rating means we will be paying even more interest.
I raised the same issue here
In 1800s, the brits and the Americans were building their own Railways. We still can’t do it until we call Chinaman. We don’t have a Company that can build a Railway or a Train.
Kama barabara ni shida, you think a train or railway is easy. The Brits were railway pioneers, they built the London tube in the late 1800s, don’t try to compare. Honestly we wouldn’t know where to start, we don’t have the human capital and it would be very expensive in the long run, not to mention the corruption and mismanagement that will be involved. When you look at it, it’s not worth the trouble at the moment.