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Any info on Mhasibu Housing Juja plots?
groupielove
#1 Posted : Monday, February 22, 2016 3:31:33 PM
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Joined: 6/21/2010
Posts: 119
Location: Nairobi
Its over 5 years since Mhasibu housing sold the Juja plots and upto now there has been no allocation to the 100 acres. I've made countless visits to their offices and seems the receptionist does not have any idea of what's happening. Any person with idea of what is going on?
Ngogoyo
#2 Posted : Monday, February 22, 2016 5:12:56 PM
Rank: Member


Joined: 6/22/2011
Posts: 561
Location: House
groupielove wrote:
Its over 5 years since Mhasibu housing sold the Juja plots and upto now there has been no allocation to the 100 acres. I've made countless visits to their offices and seems the receptionist does not have any idea of what's happening. Any person with idea of what is going on?


I excited that Sacco. It seems they dont care even to communicate status.

They are learning from ICPAK that cant discipline Ciano on malpractice yet he is also on its board (or something).
groupielove
#3 Posted : Monday, February 22, 2016 9:00:40 PM
Rank: Member


Joined: 6/21/2010
Posts: 119
Location: Nairobi
Its so unfortunate that they continue selling so many other plots yet they have not concluded what they started 6 years ago.
streetwise
#4 Posted : Wednesday, February 24, 2016 4:34:41 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
There is a time I thought these guys were the best sacco , especially with the Runda project. How is that going now
Gathige
#5 Posted : Thursday, February 25, 2016 10:06:25 AM
Rank: Elder


Joined: 3/29/2011
Posts: 2,242
The land business has messed many SACCOs. Its murky and the deals are so lucrative most of the management members are in it for the commissions from the dealers and no members interest at heart. luckily, for those patient with SACCOs, at the end teh gains are enormous as they have economies and deep pockets.
"Things that matter most must never be at the mercy of things that matter least." Goethe
streetwise
#6 Posted : Thursday, February 25, 2016 10:26:29 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
My inside information informs me that what SACCOs tend to do is that the officials collude with the sellers and buy the land at highly inflated prices. Thus it takes a longer time to obtain the capital gains and may be that is why they delay the subdivision so that this does not come out
Othelo
#7 Posted : Friday, February 26, 2016 10:00:46 AM
Rank: User


Joined: 1/20/2014
Posts: 3,528
streetwise wrote:
My inside information informs me that what SACCOs tend to do is that the officials collude with the sellers and buy the land at highly inflated prices. Thus it takes a longer time to obtain the capital gains and may be that is why they delay the subdivision so that this does not come out


Gathige wrote:
The land business has messed many SACCOs. Its murky and the deals are so lucrative most of the management members are in it for the commissions from the dealers and no members interest at heart. luckily, for those patient with SACCOs, at the end teh gains are enormous as they have economies and deep pockets.


Thanks guys for this observation. I once made this observation in another thread (can’t remember which one) but I was almost lynched especially by @Muchr. But I deal with Saccos, most of the officials including Management Committee members are in this for individual/self interest. Still boils down to Kenyans and their peculiar eating habits.

I was particularly surprised, once, when one of the officials of the Sacco who was leading the land eating scheme is a respected FD in one of the oldest listed blue chip company in Kenya. smile
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
Risasi Sufuri
#8 Posted : Thursday, March 17, 2016 11:41:39 AM
Rank: Member


Joined: 12/8/2015
Posts: 166
The SACCO's investment/Housing co that is supposed to be the guide for others happen to be the most inefficient owing to self interest and eating habits of the directors. This is one SACCO investment/housing co that will one day turn into a "Kihiu Mwiri".....

streetwise
#9 Posted : Thursday, March 17, 2016 11:49:01 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
I thought this sacco is by accountants ?.
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