As I send out invitations to Diaspora Kenyans to join the Diaspora University Town (DUT) initiative, I find myself visiting the cities and towns they live in through Google Maps. I virtually visited Cambridge, MA—the home of Harvard University and Massachusetts Institute of Technology (MIT). Dr. Wilson Endege, the founder of Daktari Biotechnology Ltd, a medicine and vaccine company being established at Diaspora University Town (DUT), has worked in Cambridge, MA. As I virtually navigated through the neat streets, tarmacked roads, and well-placed homes of Cambridge, MA, I could envision what DUT will become: a well-planned, modern, and productive town built around education, innovation, and opportunity.
My name is Faith Mwachala, Head of the DUT MSMEs and Property Development department. The DUT plan encompasses 3,778 properties. A 60-kilometer road and infrastructure network will service the properties. About 300 MSMEs and Organizations will be established at DUT.
The 3,778 properties comprise 3,500 residential townhouses that about 2,000 Kenyans will develop using the DUT THIDA system. Upon completion, the houses will be financed through the Kenya Mortgage Refinance Company (KMRC) product, offering up to Ksh. 10.5 million in 105% financing, single-digit interest rates, and a 25-year tenor, issued through 20 financial institutions in Kenya. Other residential plots include: 8 plots for apartments. A total of 10 buildings will be constructed on the plots, featuring 3,200 apartments and 45 plots for other residential houses.
For job creation, land has been designated as follows: Diaspora University will utilize 3 plots, Diaspora University Town has been allocated 81 plots, and 140 plots have been set aside for MSMEs and other organizations.
So far, 1,302 townhouse plots have been allocated through THIDA to Townhouse Developers, 5 to Diaspora University, 81 to Town, 8 to apartments, and 52 plots to MSMEs. The balance is 2,198 plots for townhouses and 88 for MSMEs. I continue to invite those who want to create jobs to join us.
Harvard University and MIT have shaped Cambridge into a world-class hub of education, research, and enterprise. These two institutions are reported to have created 12,000 jobs and 9,000 jobs, respectively, in Cambridge, MA.
Other job creators include the Cambridge town, with over 3,000 jobs; Takeda Pharmaceuticals, with over 3,000; Biogen, with over 2,000; Novartis, with over 2,000; the Cambridge Innovation Center, with over 2,000; Cambridge Health Alliance, with over 1,800; Mt. Auburn Hospital, with over 1,700; and Sanofi, with over 1,700.
After studying the pharmaceutical sector in Cambridge, MA, I envision Daktari Biotechnology Ltd. becoming a significant job creator in Diaspora University Town, and the Town becoming a pharmaceutical hub.
Cambridge, MA, is a university town. Harvard enrolls over 21,000 students and MIT over 11,000. Visiting Cambridge virtually showed me what we can achieve at DUT. I estimate that the 3,778 properties at Diaspora University Town will support the creation of 15,000 jobs and a settlement of 25,000, with a total valuation surpassing the Ksh 70 billion mark. As the 300 MSMEs are established and produce goods and services every day, the valuation will surpass Ksh 80 billion, and we will have created new wealth. This story will remain a part of history for many years to come.
Written by Faith Mwachala.
To learn more, visit www.dut.or.ke or www.dktb.co.ke
To become a DUT Townhouse Developer and or open an MSME email sme@dut.or.ke
