• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Cytonn starts Sh2.5bn Ruaka housing project for middle class

samrack by samrack
April 11, 2016
in 2016, Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Cytonn starts Sh2.5bn Ruaka housing project for middle class
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
Cytonn Investments CEO Edwin Dande with chief investment officer Elizabeth Nkukuu. PHOTO | FILE

Cytonn starts Sh2.5bn Ruaka housing project for middle class

  • The project called The Alma is scheduled for completion within three years and targets the middle to lower-middle income homeowners.
  • The mixed use complex with 408 modern apartments, a commercial facility, a lifestyle clubhouse and an elevated playground for children is strategically located at heart of the fast-growing Ruaka neighbourhood.

Real estate and investment firm Cytonn has begun construction of a Sh2.5 billion 400-unit gated community in Ruaka.

The project called The Alma is scheduled for completion within three years and targets the middle to lower-middle income homeowners with “discerning tastes” for modern day apartments.

Cytonn is offering the 1, 2 and 3 bedroom apartment options set on the 4.18-acre parcel of land in what it terms “lifestyle community”.

“Our deal pipeline serves the various segments of the market ranging from the high end, such as the Amara Ridge whose construction is ongoing in Karen, to the middle to lower-middle income like The Alma, which will offer a comprehensive lifestyle and a secure community to the future families,” said chief investment officer Elizabeth Nkukuu.

The mixed use complex with 408 modern apartments, a commercial facility, a lifestyle clubhouse and an elevated playground for children is strategically located at heart of the fast-growing Ruaka neighbourhood.

The development is located on the main Limuru Road, 100 metres from the junction of the northern bypass, and a five-minute commute from retail and commercial facilities such as Two Rivers mall, Village Market, and the Rosslyn mall development.

READ: PE Cytonn raises Sh1.4bn to finance real estate projects

The development targets a capital appreciation of 23 per cent per annum during development period of 130 weeks.

Head of Africa for Finland-based Taaleri Private Equity firm, Antti-Jussi who are financing the project through Cytonn, said the investors were not worried over the oversupply in the real estate sector.

“When you talk about glut or a bubble it’s usually a problem when the sector is financed with bank credit but in our case Kenya’s real estate segment is getting a significant amount of private equity financing which supports it,” he said.

Mr Jussi said with diminishing returns at home, Kenya is likely to see even more investor interest from the United States, European Union, Turkey and Asia looking for prospective projects in the region.

Taaleritehdas, which has cumulatively given Cytonn Sh2.5 billion, plans to invest up to Sh3 billion in Kenya’s real-estate market with its $60 million (Sh6.4 billion) Africa-focused fund.

Cytonn Real Estate, is currently running more than Sh57 billion in real estate projects.

 

 

Previous Post

Photos/Video:Pastor Lucy Njoki weds John J Paynter in a solemn,colorful ceremony in Chelmsford,Massachusetts

Next Post

How widespread corruption is hurting Kenya

Related Posts

Kenya Airways Subsidiary Fahari Aviation To Receive Embraer Eve eVTOL Aircraft From 2026
Business

Kenya Airways Subsidiary Fahari Aviation To Receive Embraer Eve eVTOL Aircraft From 2026

June 22, 2022
Kenyan Nurse Given a Three-story Home in Lebanon, Pennsylvania After Volunteer Work
Diaspora

Kenyan Nurse Given a Three-story Home in Lebanon, Pennsylvania After Volunteer Work

June 22, 2022
Uhuru’s Daughter Ngina Kenyatta Ties the Knot in a Traditional Wedding Ceremony
Diaspora

Uhuru’s Daughter Ngina Kenyatta Ties the Knot in a Traditional Wedding Ceremony

June 22, 2022
Untold Stories of How Thika Road Estates Got Their Names
Business

Untold Stories of How Thika Road Estates Got Their Names

June 22, 2022
President Uhuru Rejects To Assent Into Law ICT Bill, Opting To Send It Back To Parliament For Review
Kenya

President Uhuru Rejects To Assent Into Law ICT Bill, Opting To Send It Back To Parliament For Review

June 22, 2022
Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.
Business

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

June 22, 2022
Next Post
How widespread corruption is hurting Kenya

How widespread corruption is hurting Kenya

Please login to join discussion
Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply.
ADVERTISEMENT
ADVERTISEMENT

Latest News

Kenya Airways Subsidiary Fahari Aviation To Receive Embraer Eve eVTOL Aircraft From 2026

Kenyan Nurse Given a Three-story Home in Lebanon, Pennsylvania After Volunteer Work

Uhuru’s Daughter Ngina Kenyatta Ties the Knot in a Traditional Wedding Ceremony

Untold Stories of How Thika Road Estates Got Their Names

President Uhuru Rejects To Assent Into Law ICT Bill, Opting To Send It Back To Parliament For Review

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

George Wajakoya’s Running mate: Who is Justina Wangui Wamae

IEBC set to make corrections to voters’ register

Kenya cannot ban Mitumba without upsetting the US,Just ask Rwanda

Transition/Death Announcement of Francis Kagumba Mwenenia (Father to Pastor Naomi Kagumba (Lowell,MA ) of St Stephen’s Church Dracut,MA

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

by samrack
June 22, 2022
0

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs,...

George Wajakoya’s Running mate: Who is Justina Wangui Wamae

George Wajakoya’s Running mate: Who is Justina Wangui Wamae

by samrack
June 9, 2022
0

She has risen to prominence, following her selection as a running mate for one of the only four presidential candidates...

  • About Us
  • Archives
  • SWG Registration

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.505 seconds. Stats plugin by www.blog.ca