3,500 townhouses at Diaspora University Town (DUT) will be developed and financed through long term mortgages. Any person can become a townhouse developer through a DUT - Townhouse Investment and Development Agreement (THIDA). The DUT-THIDA creates a system of developing property that ensures the right of a clean and healthy environment in Kenya Constitution article 42 is achieved. About 2,500 Kenyans will become DUT Townhouse Developers.
STEPS OF DEVELOPING DUT TOWNHOUSES
Step 1. Developer Signs THIDA & Puts in Capital.
A person on signing a Townhouse Investment and Development Agreement (THIDA) and putting in the capital amount indicated in the THIDA becomes a DUT Townhouse Developer. One also becomes a Diaspora University Founder, Diaspora University Town founder and a Jobs Creator.
The signed THIDA opens a Developer file. The file is allocated unit/s from the planned 3,500 townhouses.
Become a DUT Townhose Developer https://dut.or.ke/join-thd
Step 2. Diaspora University Trust Organizes Construction & Finance
Diaspora University Trust progresses the development through: overseeing the design and construction of the 3,500 townhouses; overseeing the design and construction of 60 km paved roads and infrastructure to service the townhouses; establishing the townhouses usage through jobs creation; organizing the clean water supply plan; organizing the wastewater and waste management system and other environmental systems.
The Trust has completed the design-build plan to be implemented that will deliver the 3,500 townhouses building in 5 years and the support roads, infrastructure and other environmental plans.
The Trust is establishing the mortgage finance plan that will see every house on completion achieving the financing requirements.
The Trust through the jobs creation plans is also planning for the buyers of the houses after completion should a developer opt to sell.
Step 3. Developer Pays House Development Cost in Cash/ Mortgage or Sells Townhouse
The next step after the townhouse is completed is for the Developer to pay the House Development Cost (HDC) in cash or through mortgage.
On payment of the HDC the developer will own the house. The developer can occupy the house or lease it to Diaspora University Trust.
The second alternative is for the developer to sell the townhouse. A ready buyer established by Diaspora University Town in step 2 through the jobs creation will buy the house and be issued the mortgage.
The owner can add swimming pool, fence and other design provisions.
Step 4. Townhouse Growth in Value
The townhouse will grow in value. The owner can sell the house at any time. The projected townhouse valuation:
- Year 1 – Ksh 8 million
- Year 2 – Ksh 8.5 million
- Year 3 – Ksh 9 million
- Year 4 – Ksh 9.5 million
- Year 5 – Ksh 10 million
- Year 10 – Ksh 15 million
- Year 30 – Ksh 20 million
