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Business

Mwalimu to subdivide 14-hectare prime land for sale to members, public

Economy

Wednesday January 25 2023

mwalimu (1)

Mwalimu National Sacco CEO Kenneth Odhiambo. FILE PHOTO | EVANS HABIL | NMG

Mwalimu National Sacco is now looking to subdivide its two 14-hectare parcels of land in Juja for sale after its preferred single large buyers failed to offer the right price for the property.

The sacco, which is banking on the sale of the land to shore up its finances that have taken a hit from the purchase of troubled Spire Bank, will prioritise its members in the sale of the plots after demarcation.

The sacco said it declined offers from large land buyers because they wanted to snap up the two pieces of land at below-market rates in the area.

Mwalimu had initially planned to put up housing units on the land for sale to members and the public.

Land price data compiled by realtors HassConsult shows that Juja has been experiencing some of the fastest-growing land prices among Nairobi’s satellite towns.

In the one year to September 2022, the price of an acre in the town rose by 18.2 percent to Sh18.2 million.

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Jay Ndungu

Jay is a computer scientist and journalist with a passion for the intersection of technology and society. He has a background in computer science, developing a deep understanding of the technical aspects of the industry, including programming languages and software development methodologies. Currently, He writes for Nairobi Times, covering a wide range of topics including technology, politics, sports, and entertainment. With his unique combination of technical knowledge and journalistic experience, Jay brings a unique perspective to the stories he covers, able to explain complex technical concepts in an easy-to-understand manner. His work is dedicated to bridge the gap between technology and society, and to make people more aware of the potential of technology to make the world a better place.

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