Ex-railway workers plan to raise Sh2bn from land
Kenya Railway retirees are targeting to raise more than Sh2 billion from the sale of six acres of land in Nairobi after evicting 18 tenants who have been occupying the houses.
Last week’s evictions followed a court order issued by Milimani acting chief magistrate C. Obulutsa on April 17 which ordered the defendants to vacate the premises.
The chairman of the association of Kenya Railways retirees, Mr Johnson Miano, said they had decided to take over the properties in order to benefit from them.
The houses are in Upper Hill.
He said they will sell six out of 17 acres of land that they own in the area so that they pay their members as well as invest the cash raised.
“We cannot continue to languish in poverty when we have properties of such great value being misused by few individuals,” he said.
He said that the workers sacrificed a lot when they were investing in those houses and must reap from the benefits of their handwork.
“If they want to buy these houses they should wait. We will advertise in the local media and anyone with money can come and buy them,” said Mr Miano.
He said that they will also re-look at estates in Upper Hill, Ngara, Railway Club, Muthurwa, Makongeni, Landmawe in Nairobi and Chambilo in Mombasa which are valued at more than Sh31 billion.
Mr Miano added that the sale of the land will benefit 9,500 pensioners who are not receiving the monthly payments they are entitled to after retirement.