Banks in Voi are ready to offer Voi residents Ksh 750 million loans to join the Diaspora University Town (DUT) townhouses development plan. The banking product offered is the personal unsecured loan. A Voi resident can develop 1 to 4 units by investing between Ksh 750,000 and Ksh 3 million under the DUT Townhouse Investment and Development Agreement (THIDA). Collectively, they will invest Ksh 750 million.
The residents who take the loans will be paying about 15,000 per unit per month. The 1,000 units will generate about Ksh 12 million of new revenue per month for the banks. The Voi residents and the banks with the Ksh 750 million will further kick-start about 8,000 jobs of the planned 20,000 jobs (15,000 DUT jobs and 5,000 Ndara B jobs). As the 8,000 are paid every month the Voi businesses revenue will grow.
The Ksh 750 million will further attract Ksh 6.5 billion to the Voi region from the Kenya Mortgage Refinance Company (KMRC) money as the 1,000 townhouses are completed, financed, occupied, and a new GDP is achieved in Voi.
STEP BY STEP PROCESS
STEP 1. KSH 750,000 to KSH 3 MILLION
Visit a bank and borrow Ksh 750,000, 1.5 million, 2.25 million, or 3 million through the bank's Personal Unsecured Loan products.
Personal Unsecured Loans from Banks in the Voi Market
KCB Bankhttps://ke.kcbgroup.com/for-you/get-a-loan/unsecured-loan/personal
Coop Bankhttps://www.co-opbank.co.ke/borrow/personal-loan/
DTB Bankhttps://dtbk.dtbafrica.com/account/unsecured-loan
ABSA Bankhttps://www.absabank.co.ke/personal/get-a-personal-loan/#personalloancalculator
Equity Bank https://equitygroupholdings.com/ke/borrow/personal/equiloan/
Family Bank https://familybank.co.ke/?loans=employee-loans-kenya
STEP 2. DUT-THIDA
Sign a DUT Townhouse Investment and Development Agreement (THIDA) https://dut.or.ke/THIDA2025.pdf and put the money in the Diaspora University Trust account.
At this point, a DUT townhouse developer file will be open.
STEP 3. PAY INSTALLMENTS AS THE DUT DEVELOPS THE TOWNHOUSE
Pay the monthly instalments to your bank.
DUT, on the other hand, will develop the townhouse in accordance with THIDA Article 4.
In about 12–48 months, the DUT Design-Build plan will complete the townhouse. https://dut.or.ke/design-build
STEP 4. COMPLETED HOUSE MORTGAGE
Upon completion of the house, get a KMRC mortgage through your bank.
The mortgage at this point can include the Principal Balance of the unsecured loan (Step 1), and the House Development Cost (THIDA Article 4) would be added together.
STEP 5. COMPLETED HOUSE USAGE
The owner can occupy their house and live in a well-planned town with a clean and healthy environment, a University, a level 5/6 university hospital, good basic education schools for children, and other amenities.
If the owner does not live in the house, the owner can lease the house to DUT in accordance with THIDA Article 12 and receive Ksh 65,000 a month.
Using the example in Step 4, the Ksh 65,000 would be applied to pay the monthly mortgage of Ksh 60,352
The difference between Ksh 65,000 and Ksh 60,352 (Ksh 4,648) would be the owner's monthly income.
STEP 6. COMPLETED HOUSE EQUITY
Upon completion, each house will have equity calculated as Sale Price less the mortgage value. The sale prices are recorded in the DUT THD page https://dut.or.ke/thd
Year 1 Sale Price. Ksh 8 million
Year 2 Sale Price Ksh 8.5 million
Year 3 Sale Price Ksh 9 million
Year 4 Sale Price Ksh 9.5 million
Year 5 onward Market Price.
Using the Example in STEP 4, a house completed in month 20 would have a sale price of Ksh 8.5 million. This means the equity in the house would be the difference between the Ksh 8.5 million sale price and the Ksh 7,191,686 owed, which equals Ksh 1.3 million.
GDP GROWTH APPROACH
DUT uses the GDP Growth approach, which has grown the U.S. economy from $57 billion to the current $30 trillion. DUT will achieve a GDP of Ksh 20 billion.
