A housing cooperative based in Murang’a has launched a campaign to woo youthful investors. Jeremy Karemeri, chairman of Broad Borders Housing Cooperative Society, said the campaign would be carried out in Murang’a, Kiambu, Nyeri, Kirinyaga, Nyandarua and Laikipia counties.
Speaking while issuing title deeds in Kirinyaga county, Karemeri said young people have been shying away from investing in the real estate sector despite having money at their disposal. He, however, admitted that there has been lack of lack information on investment opportunities.
Karemeri said the housing cooperative society has a 8,000 members but the youth are few. “In our cooperative society, the youth comprise only 20 per cent which is relatively low considering that they are the majority in the country,” he said.
The chairman said the investment in real estate is one venture which guarantees good returns at all, times. “We want to bring on board as many youths as possible and show them where they can invest their money and earn returns,” said Karemeri.
He said the society is working on a polished investment plan, which would guarantee a constant income to their members in long term.
The real estate sector, he said, is growing fast and this is creating numerous investment opportunities. “Every year, there is a deficit of more than 200,000 housing units in the country and this is an opportunity investors should not let go,” he added.
Karemeri said Broad Borders, whose head office is in Murang’a town with offices in Nyandarua, Kirinyaga, Chuka, and Tharaka Nithi, are also aiming the national market in the housing sector.
“We have started a project where members can own a unit at between Sh650,000 and Sh750,00 built on half an acre. The first phase of the project comprises 120 units but we shall embark on a second phase which shall have 400 units,” he said.