Urithi Housing Cooperative Society is set to put up a Sh500 million estate in Nairobi.
The gated community project is being developed on a 5-acre piece of land along the Kangundo Road and 13 Kilometers from the Eastern Bypass.
The project dubbed ''Osten Terrace Gardens Apartments" is one of the cooperative's strategies to claim a portion of the lucrative real estate business in the nation.
According to the Urithi Chief Executive Officer Kevin Muthuri, the construction will be done in phases per block with each taking between 18 and 24 months to finish.
On completion, one will have to part with Sh1.6 million to acquire one unit and the structures will each be three storeyed.
"The introductory price of one unit is Sh1.6 million. One can pay for his unit in monthly installments of between one and four years plan,” Muthuri said as quoted by the Star.
The project will also go into solving the housing shortage currently witnessed in the country as a result of increased rural-urban migration.