More than 200 members of Taqwa Sacco in Kenya have expressed concerns over the fate of their Sh387 million investment in the stalled Jeevanjee Housing Project in Nairobi. The project, which was initiated under the Affordable Housing Programme, has been marred by delays and disputes, leaving buyers frustrated. The development remains incomplete seven years after its commencement, with little signs of progress by the developer.
The investors, who had committed to purchasing 200 mixed two- and three-bedroom apartments, stopped further remittances after the project stalled in 2022. They had remitted approximately Sh387 million towards the purchase of the units, which is part of the Sh600 million they were supposed to remit. The investors are now seeking urgent intervention from the Nairobi City County Assembly Housing Committee to establish the status of the project and a clear roadmap towards completion and handover.
Taqwa Sacco Chief Executive Officer Dunia Jarso Abdi told the Nairobi County Planning committee that the Sacco acted as an agent for the investors who have been raising complaints over the project. According to Abdi, for many of the beneficiaries, the investment represents years of savings and, in some cases, money borrowed specifically to secure a home. The investors are increasingly concerned about the safety of their money and are demanding transparency and accountability.
The project was allocated LR No. 209/5458 in 2019 for development, but construction has been dogged by delays and disputes. Several completion dates have been announced over the years, only for the deadlines to pass without the houses being handed over. The beneficiaries have been given various explanations for the delays, including the Covid-19 pandemic and issues with doors, windows, and other fittings.
Imani Hamisi, a beneficiary and Secretary of Jevanjee Housing project, revealed that among the dates communicated to investors were October 2022, August and October 2024, May 2025 for two towers, June 2025, November 2025, and April 2026. The investors say they have waited for many years and remained patient despite repeated delays, but now need a clear explanation of what is happening to their investment.
The concerns come against the backdrop of wider questions surrounding the financing and ownership arrangements of the Jeevanjee project. The Nairobi City County Assembly has previously raised questions over the use of the title to the property, LR No. 209/5458, in connection with financing arrangements. There have also been concerns over an alleged Sh1.9 billion facility obtained using the property as security.
The investors are now urging the Housing Committee to bring together Nairobi County officials, the developer, financiers, the Sacco, and representatives of the affected buyers to establish the facts and agree on a practical completion plan. The committee chairperson Geoffrey Majiwa acknowledged that the matter is critical and needs urgent intervention, and has promised to summon the developer and all relevant stakeholders to clear the air on the matter.
Key points
- The Jeevanjee Housing Project has stalled, leaving over 200 Taqwa Sacco members uncertain about the fate of their Sh387 million investment.
- The project has been marred by delays, shifting completion dates, and inadequate communication, leaving buyers frustrated.
- The investors are demanding transparency, accountability, and a clear roadmap towards completion and handover.
