The Diaspora University Town (DUT) Ksh 25 billion, 3,500 townhouse development and finance plan is a property development plan in the DUT Master Development Plan (MDP). The plan will provide housing to Kenyans, as well as ensure their environmental, social, and economic rights, as outlined in the Constitution of Kenya, Articles 42, 43, and 53. The plan is expected to contribute to the creation of 20,000 jobs at DUT and Ndara B, a Ksh 20 billion increase in GDP, a Ksh 25 billion increase in banking assets, and generate new wealth for Kenyans.
The DUT Ksh 25 billion 3,500 townhouses development and finance plan comprises four plans, as follows: Ksh 25 Billion 3,500 Townhouses Development Plan, Ksh 22.75 Billion, 3,500 Construction Plan, Ksh 25 Billion 3,500 Mortgage Finance Plan, and a Ksh 4 billion 3,500 townhouses yearly usage and mortgage repayment plan.
1. Ksh 25 Billion, 3,500 Townhouses Development Plan
The Ksh 25 billion townhouses development plan is established through a DUT Townhouse Investment and Development Agreement (THIDA). Through signing a DUT THIDA and putting in developer capital, individuals become developers of one to four townhouses. Developers have opened four hundred ninety-eight (498) files, and they are currently developing 1,302 of the planned 3,500 townhouses.
2,198 units are available for individuals who wish to develop townhouses for ownership or sale through the DUT-THIDA system. Those who become developers will create jobs, achieve a clean water and wastewater plan that protects the environment through the Ksh 22.75 billion 3,500 townhouses construction plan, become founders of Diaspora University, and grow their wealth.
The Ksh 25 billion development incorporates the following budgets: the developers' capital as indicated in the THIDA; the design-build budget of Ksh 22.75 billion, with a cost of Ksh 6.5 million per house; and the Diaspora University Trust development costs, which include finance costs.
2. Ksh 22.75 Billion, 3,500 Townhouses Construction Plan.
The 22.75 billion construction plan incorporates the budgets of 15 Ndara B Materials MSMEs, approximately Ksh 8 billion; other building materials suppliers, about Ksh 6 billion; the construction workers' budget, about Ksh 7 billion; and the finance and design build companies' capital returns budget, about Ksh 2 billion. The plan will create 3,000 jobs in the 15 Ndara B MSMEs building materials plan and another 2,000 design and building jobs at the DUT site.
3. Ksh 25 Billion, 3,500 Townhouses Mortgage Finance Plan
The Kenya Mortgage Refinance Company (KMRC), founded by the Government of Kenya, the World Bank, the African Development Bank, 20 financial institutions, and other partners, started with a financing of approximately Ksh 41 billion for mortgage finance. At the close of 2024, Ksh 11.8 billion was applied, and Ksh 29 billion was available.
Through KCB Bank, DUT aims to tap into this finance and have the funds applied to building, construction, and the production of new houses.
4. Ksh 4 billion, 3,500 Townhouses, Yearly Usage and Mortgage Repayment Plan.
The 20,000 job creation and 5,000 Diaspora University students’ plans will be the key users of the houses. As the 3,500 townhouses are completed and a GDP of Ksh 20 billion is achieved, approximately Ksh 4 billion of this new GDP will be applied annually to the townhouses' usage and ownership. The amount will pay the mortgage or income. In 25 years, through the new GDP established, about Ksh 100 billion will be generated and will progressively pay the mortgages.
