Kenya: ground broken on $145.4m real estate development
Cytonn Investment, a real estate developer based in Kenya recently broke ground on its mixed-use project in Kiambu County’s Ruiru district.
The development, RiverRun Estates, comprises 1,258 residential units costing a total of $145.5m. It will include a promenade, a school, water theme park, boat club and a boutique hotel.
The project manager Peter Karenju said that the estate’s over 1000 m2 of retail space will enable residents to live an all-inclusive lifestyle as per suburban standards.
The development will accommodate from lower middle income earners to high-end properties, with the houses expected to range between $97,000 and $475,300. The project is expected to reach completion in June 2022.
Cytonn has partnered with Aspera Designs from Kenya and AUD Architects from Finland to develop the project. Currently, the company has over 12 developments under its belt valued at $74.69Bn.
Cytonn Investments is an investment and real estate company primarily focused on offering alternative investment solutions to global institutional investors, individual high net-worth investors, local institutional investors and diaspora investors interested in the East African region.
They base their alternative investments solutions on four main products: real estate, structured solutions, private equity and advisory.