Invest in the housing sector
03 January 2013, 10:48
The Kisumu Municipal Council is encouraging local residents to invest in the housing sector in order to capitalize on the current rising demands.
According deputy mayor Ben Odondi, the completion of Kisumu International Airport has opened the city to investment opportunities including real estate.
Odondi pointed out that the town has lagged behind in development due to the negative attitude of the residents, most of whom prefer white collar jobs to self employment.
He also divulged that the Kisumu Municipal Council is currently mapping out a plan to develop the construction of residential houses in a bid to decongest the city centre.
He said the council has discovered that housing trends are moving towards the outskirts of the town.
Areas such as Riat Hills, Kibos, Mamboleo, and Kisian were noted to be developing at an alarming rate.
He pointed out that these regions are among those set aside for housing in a bid to expand the city which is getting congested due to unplanned housing structures.
The deputy mayor added that the council was planning long term investment in the housing sector, which will involve generating money to be used in a revolving fund aimed at making Kisumu self-sustainable.
“The council has already put aside money for investments in housing, since it requires a large capital fund which will be available all year round to build council houses,” said Odondi.
The council will also construct and sell middle and low class rental houses.
Odondi also appealed to the residents to be peaceful ahead of the March 4 polls in order to attract foreign investors who will spur the city towards its highest potential.
“No foreigner would ever risk investing in a hostile environment,” he noted.
He specifically advised the youths from the hotspot areas such as Kondele to desist from property destruction and stone throwing whenever faced with misunderstandings, adding that this would have a negative impact on investment.
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