The following are some of our important achievements:
1) Kangudo Road (Malaa plots)
During last year Annual General Meeting, the Board had conceived an idea of buying a land on Kangundo road Malaa area. A 33 acre piece of land was bought at a cost of 41 million and was subdivided in to 170 residential plots. The plots were offered for sale as follows:-
- 50×100 (residential) kshs 350,000.00
- 50×100 (comer) kshs 400,000.00
- 100×100 (residential) kshs 600,000.00
Titles in respect of each individual plot were processed in the name of the company. Individuals who complete paying for the plot are immediately transferred the title of ownership. A borehole with depth of 302 meters has been sunk in the same plot to make the place habitable.
To date over half of the plots have been sold and therefore, shareholders are kindly asked not to miss the golden chance of owning an asset in Nairobi.
2) Lamu Parcel No. 484
It’s worthwhile to note that, the land value at Lamu have increased drastically to a minimum of one million per acre. To add more value to the land, the Board has planted about 10,000 eucalyptus trees in parcel No. 484. The trees are doing well and hope to give a good return when the trees mature and harvested.
3) Letting of office space at Utumishi Co-op House
The Board is happy to report that, the Utumishi building has remained fully occupied from the year 2011.
4) Kitengela phase 1 progress
The above site and service scheme progressed on well and transfers of title deeds were released immediately the plot owner completed paying the debts.
Key success factors relate to what Utumishi Investment Ltd. has to do right to fulfill its mandate and justify its existence. They are judgment pillars that anybody assessing the performance of Utumishi Investment Ltd. would critically examine.
Based on institutional review, and situation analysis, the following are the Utumishi Investment Ltd.’s key success factors:
- Prudent financial management and growth
- Institutional strengthening and operational excellence
- Strengthening Utumishi Investment Ltd. membership base
- Achieve 100% occupancy at Utumishi house
- Diversification of investments
- Ensure successful implementation of the corporate plan