In comes Chinese money, out go Eastlands estates
City Hall has partnered with two Chinese Companies to put up 55,000 apartments in Eastlands in an ambitious housing project starting February next year.
In separate Memoranda of Understanding between Governor Evans Kidero and China Sichuan Wande Investment Group chief executive Xue Li and China Railways 18th Bureau Group boss Xue Dewen, the two firms have agreed to finance the projects that seek to provide affordable housing to residents of Eastlands.
China Sichuan will construct 40,000 apartments as China Railways builds the other 15, 000.
The units that will be built in Ziwani, Pangani, Majengo, Kaloleni and Shauri Moyo estates will then be sold to city residents at 25 per cent lower than the market price.
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