Egerton University pension scheme gives birth to 1.6 billion shillings mall

Egerton University has commenced the construction of a 1.6 billion shillings mall  in Nakuru town.

The project is one of its own under the Egerton University Retirement benefit scheme.

Speaking on Monday in Nakuru town when he presided over the ground breaking ceremony,Nakuru governor Lee Kinyanjui commended the university for such a project that will see locals get job opportunities during construction.

According to governor Kinyanjui,the  mall which  is expected to be complete in two years will be a significant  development in county and will tap on a broader market as it is located on a major highway which has traffic of approximately 1,000 vehicles daily.

“We will market the mall as part of the landmark buildings in the town. The mall will also attract diverse investors, including those passing through the town,” said the Governor. 

He also challenged pension schemes in the county to invest in housing projects.

The county boss said there is demand for affordable housing and such projects will also provide revenue streams for the pension fund.

“This is a challenge, even to the County pension scheme, to invest in housing as they have longterm funds,” he said.

Speaking at the same functions Prof Rose mwonya,the  Egerton University Vice Chancellor said the completion of mall will improve income flow for the scheme.

She said it will also be a landmark building that will improve the profile of town, that is set to become a city.

” It will provide ample parking and office space that will decongest town,” she said.

PHOTO/NGPU:Nakuru governor Lee Kinyanjui on Monday during ground breaking for the Egerton University Retirement Benefits scheme shopping Mall.

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