A Diaspora University Town (DUT) Townhouse developer is a person who will develop one of the 3,500 planned townhouses. The DUT Townhouse Developer system is on track to establish about 2,500 townhouse developers who will apply the DUT system to develop 3,500 townhouses and create new wealth of Ksh 35 billion.
The Diaspora University Town has a 3,500 Townhouses development plan that incorporates the following 5 plans:
- The DUT Townhouse Developers Plan.
- The DUT Design-Build Plan
- The DUT Townhouse Owners and Mortgage Finance Plan
- The DUT Townhouse User Plan.
- The DUT Town Management and Environment Plan.
The DUT Townhouse Developer’s Plan
The plan establishes the 3,500 townhouse developers of the 3,500 townhouses through a Townhouse Investment and Development Agreement (THIDA). About 2,500 persons will become DUT Townhouse developers and develop the 3,500 townhouses. The estimated budget of development of the 3,500 townhouses is Ksh 25.375 billion or Ksh 7.25 million a unit. The townhouse's valuation is expected to reach Ksh 10 million per unit, a total of Ksh 35 billion. Each townhouse return on investment will grow to about Ksh 2.75 million.
The DUT Design-Build Plan
The DB plan includes: 3,500 plots of 50ft x 100ft plan, the Construction of 3,500 buildings in the 50ft x 100ft plots; the construction of 60 kilometer roads and the construction of infrastructure of clean water supply, wastewater removal, power lines and ICT.
The Design-Build budget for the 3,500 townhouses is estimated at Ksh 22.75 billion. The budget will deliver the houses, roads and infrastructure. The average development cost for each house is Ksh 6.5 million.
The DB production plan has 175 production contracts of 20 units and 20 production contracts of roads and infrastructure. Each townhouse contract is planned to be completed in 16 weeks. Each road production contract will be completed in 12 weeks.
The DUT Townhouse Owners and Mortgage Finance Plan
The townhouse owners and mortgage finance plan is the plan that will finance the completed house. The best finance product is today available from Kenya Mortgage Refinance Company (KMRC) through
Banks and Sacco’s. The finance product terms are: up to Ksh 10.5 million, single digit interest, 25 years tenor and 105%. This means the total development budget can be financed by KMRC.
The DUT Townhouse User Plan.
The townhouse usage is primarily based on the jobs creation plan. As 15,000 jobs are created those taking the jobs will settle in the town. Diaspora University will create 1,000 jobs; the Diaspora University Medical Hospital, 1,500 jobs; the Town, 500 Jobs and 300 MSMEs, 12,000 jobs.
The DUT Town Management and Environment Plan.
The town management and environment plan will ensure that the town is safe and the environment is clean and healthy at all times for the residents residing in the townhouses.
