URITHI LAUNCHES TITLE DEED ISSUANCE DRIVE
Urithi Housing Cooperative Society (UHCSL) is currently encouraging its members who have invested in various projects to collect their title deeds. In the month of April alone, UHCSL has handed over 500 Title Deeds to its members who have acquired property from different projects through the Co- operative. The ceremony held at the Society’s headquarters was attended by over 300 members who received their Title Deeds with the rest urged to pick theirs within the next 30 days.
During the Ceremony, the Chairman Mr. Samuel Maina said that despite the harsh economic times, Kenyans are still enthusiastic to invest in the real estate sector, and precisely the
affordable options. He also noted that recent trends in real estate indicate that women are the majority investors especially in the middle and low cost segments of investments which was attested to by the composition of recipients in the launch. “Over the years Women have overcome cultural and legal barriers which were impediments to them owning property. Women have become more empowered and are more focused on attaining capital investments for their families”, Said Mr. Maina.
Mr. Maina raised concern that the youth are spending a lot of v aluable time and money to acquire instant gratification as opposed to embracing a saving culture espoused by the Saccos. He urged them to join Cooperatives which will accord them an opportunity to save and acquire capital investments that will benefit them in the years to come. “In Kenya we have 22,000 registered Co-operatives with over 14,000,000 members. This underscores the pivotal role played by the Co-operatives as key economic drivers. Unfortunately, this number does not capture the 75% of the population that forms the youth.” He urged parents to encourage the youth to join Cooperatives and start saving and owning property as opposed to having an appetite for consumables. Speaking during the same event, Senior Commissioner of Cooperative Development Mr. Philip Agolla, who was representing the acting Commissioner for Cooperatives’ Development at the State epartment of Cooperatives- Mr. Didacus Ityeng’, said that the Cooperative movement in Kenya is growing at a very fast rate and has become a case study in the region.
Mr. Ityeng’ lauded the Cooperatives for playing a key role in changing the livelihood of Kenyans and giving them an opportunity for self-advancement. He added that Cooperatives should embrace good corporate governance practices in order to protect the investments of their members. Urithi’s core mission is providing affordable investment solutions and decent housing to its members. The Co-operative acquires land at negotiated prices and passes on the subsidized cost per unit to its members.
Currently, the Cooperative has over 27,000 members spread across the country. Since inception in 2012, UHCSL has issued over 6,500 Title Deeds to members who have invested through the Cooperative. It has also completed and handed over 5 housing projects; Own A Room Apartments in Juja, Spring view Estate in Thika, Plains view Estate in Juja, GEM 1 in Juja, and Lanet Homes in Nakuru.
The Chairman noted that by the end of 2019, UHCSL will hand over 5 other housing projects spread across various regions (Mombasa, Juja, Kajiado and Kamulu). He stated that the Cooperative will continue to process the pending Title Deeds based on respective project time-lines and assured members that these Titles would be issued to members in subsequent similar events throughout the year.