The NSSF bought 1,760 acres of land in Tassia for Sh2.2 billion between 1994 and 1995 from the Tassia Coffee Estate limited and the Noki Investment Limited with hopes of developing the area into a residential place.
But by the year 2001 the land had been encroached forcing the Fund to move to Court to have them evicted. The Court gave the Fund the green light to evict them but the Board of Trustees at the time chose not to because of the numerous sub divisions that had been done.
A plan was then devised to have the squatters buy the land from NSSF.
Unfortunately the City Council of Nairobi ordered the NSSF to link the settlement to all the existing neighbourhoods in the area, develop a transport corridor, ensure that it is fully serviced, develop access roads and drainage systems and other items.
The NSSF was then forced to get bidders who would carry out the works with the required technical and technological knowhow.
Ten bidders responded among them Nzuca Consolidated Company Limited which had the highest quotation asking for Sh8.151 billion while Jiangxi had the lowest.
According to Kambi, as at December 31, 2013 the total expected sale proceeds from the scheme was Sh2.5 billion and so far Sh1.8 billion has been received.
"The outstanding Sh0.7 billion is expected to be realised by June 2014," he noted.
It is however difficult for the Fund to quantify how much it will get once all the squatters pay their dues because survey works on the parcel have not yet been conducted.