Username Investments has issued over 1,000 title deeds to clients who bought land at Springfield Nakuru Phase IV. This was during a Title Issuance Ceremony held in Nakuru City at Havanna Estate. This moves Nakuru County an inch closer to achieving its annual target of Affordable Housing which demands 10,000 units annually. However, according to Kenya National Bureau of Statistics only 3,000 housing units are available annually creating a shortfall of 7,000 units. Username Investment has committed to continue providing Kenyans with a place to call home in this newest city and Kenya at large.
“Cities are growing at an unprecedented rate globally presenting an incredible opportunity for the development of local economies. However, residents need good, affordable housing and this remains a challenge around the world. Nakuru recently became the fourth city in Kenya after Nairobi, Kisumu and Mombasa. As a stakeholder in Nakuru, we are glad to be providing affordable land that can be transformed into residential and commercial buildings. This has been possible because of having the right infrastructure investment ongoing in the county and the new city planning. We are happy to be among the pioneers of Affordable Housing in Nakuru”
Speaking during the Title Issuance Ceremony, Username Investment Ltd. CEO, Reuben Kimani, expressed his joy as the company crossed the 9,000 mark in the number of the title deeds issued since the company’s establishment in 2013. He reaffirmed the company’s commitment to provide strategic, affordable and valued added land with ready title deeds across the country. He noted that Username Investments has been a key stakeholder in Nakuru City having done over 9 projects in the city. The projects include; Springfield Nakuru Phase I – V, Harmony Gardens, The Hamptons – Nakuru Phase I & II and now Havanna Estate Nakuru Phase II.
“The property market has two major sides; the supply and demand side. The demand side is influenced by income level, age, family size etc. and tenure of home ownership which is either renting or owning the house. Kenya being a low and middle income country, domestic data puts the low income earners as those taking home 23,670 shillings while the middle income earners are above the income. This means that majority of Kenyans who fall under this income bracket cannot afford expensive and luxurious properties. This means that they automatically opt to rent houses for a prolonged period of time.”
“From the supply side, affordability, securing finance, land acquisition, titling, land use among others influence the kind of housing supply developers will present to the market. At Username Investments, our major focus has been offering affordable residential properties with ready title deeds and with flexible payment plans. I am glad that as a company, we are able to meet both the demand and supply side. Today, we are happy to fulfil dreams of 1,000 Kenyans of owning a home. This is the best way to start the year, with a place to call home.” Reuben continued.
Reuben added that a title deed is the ultimate assurance of ownership of a property. Further, one can easily get building permits with a title deed and secure a loan using a title deed as a collateral.
The CEO concluded by calling upon Kenyans and especially young people to invest in properties in Nakuru City. He noted that, with the new city attracting both local and international investors, in the next few years’ properties within the radius of 30 km from Nakuru CBD will be worth millions.
Username Investment Ltd. presented their newest project, Havanna Estate – Nakuru Phase II during the title issuance ceremony. This will further increase the number of Kenyans owning homes in Nakuru City. The project is located 15 minutes’ drive from Nakuru Town next to Ngata Estate and touches an existing tarmac off the Nakuru – Eldoret highway. The eighth acre plots are selling at an affordable price of Ksh 599,000.