Sessional Paper No. 09 of 1971 on Guarantee for Loan to Nairobi City Council by the Commonwealth Development Corporation

Abstract

This Sessional paper provides information about a guarantee which the Government proposes to give to the Commonwealth Development Corporation (C.D.C.) in respect of a loan of £1,000,000 sterling (K£860,000) for the construction of the Nairobi City Council's Aerodrome Road housing project . This housing project is already under construction on 190 acres of vacant land near Nairobi Dam. This project will provide 408 three bedroom flats and 192 two bedroom flats, making a total of 600 flats on 4 storey blocks. There will also be built a primary school and 40 acres landscaped open space for recreational purposes. The flats will be built to a high standard of finish and the approximate rental for the two categories of flats will be about Shs.500/- and Shs.440/- respectively. There is considerable demand for flats in this price range.