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Safaricom Investment Co-operative to build Ksh750 million residential development


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Safaricom Investment Co-operative is set to begin the construction of a Ksh 750 million real estate project in Ruaka, Kiambu County to meet the growing need for affordable housing in the county.

Dubbed The Miran Residence, the three-acre urban development nestled in the Western end of the Nairobi Bypass is an integration of modern and sustainable infrastructure and architecture. The development will comprise 450 units made up of studio apartments selling at Ksh 2.75 million, studio lofts at Ksh 3.9 million, one-bedroom at Ksh 4.45 million, and two-bedroom apartments selling at Ksh 5.9 million. The development includes holistic wellness facilities, a fully equipped gym, a kids’ play area, and a jogging track promoting the ever-growing desire for an all-around lifestyle.

“Ruaka is known for its beautiful landscape and cool climate and has an endless array of activities to enhance residents’ everyday lifestyles. Being that it is just 20 minutes drive from Nairobi CBD and with access to amenities like shopping malls, hospitals, and schools all-round, The Miran Residence is an ideal investment for people looking to invest in a family home or looking to put up an investment like an Air BnB,” said Safaricom Investment Co-operative CEO Sarah Wahogo as she promised investors and home-buyers of a quality development as is the hallmark of all Safaricom Investment Co-operative developments.

Safaricom joins UN push to scale up private sector investment

According to a Hass Consult report released this month, Ruaka solidified its position as the largest supplier of apartments in the satellite towns accounting for 30 percent of all advertised units. Ruaka has therefore become the largest stockholder of apartments within the satellite as it presents the ability for the working population to enjoy both housing affordability and reduced transportation costs due to its proximity to the city.

The commissioner of co-operatives hailed the efforts by Safaricom Investment Co-operative for the role it has played in uplifting the lives of its members.

“Co-operatives have over the years been very instrumental in uplifting the economy of the country by offering desirable investment solutions to their members. Despite the difficult period the world experienced during the Covid-19 pandemic, many co-operatives have remained resilient and have continued to grow. As a government, we will continue to create a conducive environment through sectoral reforms to ensure that co-operative societies like Safaricom Investment Co-operative continue to grow,” said David Obonyo.

The launch of this housing project is quite timely as it plugs into the government’s Big 4 agenda on Affordable Housing. The Miran Residence is the 5th housing project by Safaricom Investment Co-operative Society. The other housing projects include Ruaka Ridge in Ruaka, BlueBells Apartments in Syokimau, Kantafu Serene Homes in Kantafu, and Rongai Villas in Rongai.


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