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Cytonn Investments Raises The Bar In Kenya’s Real Estate Industry With Multi Billion Projects And Steady Growth

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Cytonn CEO Edwin Dande

Real estate remains a preferred investment venture in Kenya and one needs excellent knowledge of the market and that’s why investment firms are working around the clock to satisfy and give clients a top class treat.

Cytonn Investment, a young entrant into the industry is such that is cutting out a nitch with its rapid and steady growth commanding a firm grip in the wide pitch.

Investment firm Cytonn earlier this year  announced three fold growth in net profit to Sh398 million for the year ending December 31, 2017.

The 276.7 per cent rise in profit was up from 105.7 million recorded within the same period in 2016.

Cytonn attributed the sharp rise to a strong revenue growth arising from construction projects and the realization of gains from investment in the stock market.

The firms group revenue doubled to Sh1.01billion from Sh543.94 million announced in 2016, while that of the company went up to Sh193.4 million from Sh119.86 million.

The growth in total assets was driven by strong growth in the real estate projects under mandate, with Investment Property growing to Sh10.8 billion in 2017 from Sh8.9billion in 2016.

Investments in financial services through quoted Private Equity Investments delivered Sh342.1 million to the firm in revenue in 2017.

Cytonn prides of some outstanding Real Estate projects in the country that is making it a preferred investment firm in the new economy times. Some of the mega projects are as below:

1.Cytonn Towers

Cytonn Towers is a proposed iconic Mixed-Use Development on a 4-acre parcel in Kilimani, at the junction of Argwings Kodhek and Elgeyo-Marakwet Road, 10 minutes from Nairobi CBD. The development will be built to embody world class standards in destination real estate and is expected to be Nairobi’s premier Business, Retail and entertainment, Hospitality and Residential address when complete.

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2.RiverRun Estates

RiverRun Estates is a master-planned development to be undertaken on a 100-acre parcel located in Ruiru, Kiambu County approximately 7 Km from the Thika Superhighway and 1.5 km off Kiambu-Kamiti Road and falls within the precincts of both Tatu City and Migaa Golf Course.

The development has lots of green spaces, outdoor play areas and recreational facilities including swimming pools, a water park, access to a dam with a water frontage of 800m and clubhouse facilities. The residential units are in clusters to enhance community living and security within the units.

3.The Ridge

The Ridge is a comprehensive and luxurious mixed-use development located in Ridgeways, Nairobi approximately 10 km from the CBD, 300m from the junction of Kiambu Rd and the Northern Bypass, 5 minutes’ drive from the Two Rivers Mall, the biggest shopping mall in East Africa, less than 5 minutes’ to Windsor Golf Club and 10 minutes’ from UNEP headquarters in Gigiri.

Taraji Heights

4.Taraji Heights

Taraji Heights is a comprehensive mixed-use development where style, nature, community living and convenience meet. Nestled in the scenic and serene environment of Ruaka, Taraji Heights is only 30 minutes from the Nairobi CBD, 5 minutes from the Northern Bypass and 10 minutes from UNEP headquarters in Gigiri. The development comprises 2, 3 and 3 bedroom apartments with a DSQ, a retail facility, a private clubhouse with a swimming pool, gym and spa and well-manicured gardens.

5.The Alma

The Alma is a comprehensive residential development with modern 1bd, 2bd, and 3bd apartments & impeccable finishing. The project is strategically positioned in the heart of the fast-growing Ruaka neighborhood. It is only a 20minutes drive from the CBD and 40 minutes drive during rush-hour. The adjacent suburbs Runda, Rosslyn and Muthaiga also make the location quite secure and attractive for investors.

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6.Amara Ridge

Amara Ridge, an exclusive private gated community in Karen, is close to everything in Karen yet tucked away from it all. Conveniently located with easy access to Lang’ata Road and Ngong’ Road, residents have an array of amenities to enjoy and events to keep their calendars buzzing with activity all year round.

7.Newtown

Newtown is an exceptional master planned development within the greater Nairobi Metropolis that once complete, will comprise of residential, commercial, educational, logistics, recreational & hospitality precincts. Newtown sits on approximately 1000 acres located in Athi River, Machakos County, approximately 10 km off Mombasa Road along Mutongoni Road. The development aims to provide a world-class city that will create a Live, Work & Play environment while creating traction for the area.

Cytonn has also received the go-ahead from the competition watchdog to buy Nairobi’s luxury hotel-cum-furnished apartments vendor Wasini Resorts.

In last Kenya Gazette notice, the Competition Authority of Kenya said it had approved the sale, which will see Cytonn acquire 100 per cent shareholding in Wasini Resorts.

The Cytonn executive said there was a big opportunity for serviced apartments across Kenya to serve growing demand by short to mid-stay travellers visiting Kenya and the region.

Due to lack of a single furnished apartments’ operator especially within Nairobi’s Westlands, Kilimani and Upper Hill Cytonn has seen a huge investment opportunity.

Cytonn is undertaking a serviced-apartment development of its own in Westlands to complement similar homes in Ridgeways. More furnished apartments are also under development at the 35-floor Cytonn Towers in Kilimani.

The firm, through its real estate arm Cytonn Real Estate, has 10 ongoing residential and commercial projects reportedly valued at Sh82 billion. It is also the 5th largest shareholder in regional lender, NIC Bank.

Related Content:  Cytonn and Taaleri of Finland Enhance Their Partnership via Agreement for Subscription of 20% Cytonn Stake


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With Sh2B Investment, Taaleri Set To Purchase 20 Per Cent Of Cytonn Real Estate Project

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Cytonn CEO Edwin Dande

On 8th November 2018, Cytonn held a client cocktail meeting at the Nairobi Serena Hotel. The forum served as a platform to enable Cytonn celebrate the ongoing successful partnership with Taaleri, its institutional investor, while also providing an opportunity for Cytonn clients to interact directly with The Cytonn Board and Taaleri.

A section of attendees during the cocktail

“This forum is meant to celebrate the great milestone we have had in our relationship with Taaleri. It will be a platform to get to know what we are doing as Cytonn, The Board and Taaleri as well as get to respond to any questions our clients may have around the firm’s governance,” said Edwin H. Dande, Cytonn’s CEO during the forum.

Edwin H. Dande, Cytonn’s CEO

“With the continued attractive investment opportunity in Kenya and the region, and the committed team at Cytonn, Taaleri has this year invested a further Kshs. 2bn in our Real Estate projects, and are now looking to purchase 20% of Cytonn during our IPO,” said Prof. Daniel M. Njiru, Cytonn’s Board Chairman and Vice Chancellor at Embu University, during the forum.

Prof. Daniel M. Njiru, Cytonn Group’s Board Chairman

He further said that, “The listing of Cytonn will only serve to increase our levels of governance, risk management, disclosure and transparency. As a Board, we are supporting Management on the listing, and would like to congratulate them for taking the firm to these heights.”

Prof. Daniel M. Njiru also introduced members of the various Boards at Cytonn, which are The Cytonn Group Board, Cytonn Asset Managers Limited (CAML) Board, Cytonn Hospitality Board, the Special Purpose Vehicles (SPVs) Boards and The Cytonn Education Board.

A representation of The Cytonn Group, Affiliates and Special Purpose Vehicles (SPVs) Boards

Kati Salo, Taaleri Africa Team representative, reaffirmed the Cytonn – Taaleri partnership. “As a Risk Manager, I am confident about the risk position of the firm and I can sleep well knowing that my investments are in good hands,” she remarked.

Prof. Daniel M. Njiru engaging with a client

.

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Cytonn Opens Doors To The Public As They Unveil The Ridge Show House

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The Ridge.

If you are looking for something to do this weekend, CytonnInvestments is holding an open day on Saturday for clients and members of the public on site at The Ridge.

The show house for the project will be unveiled, giving guests a preview of what the finished product will be like. Visitors get to sample the distinct and magnificent lifestyle development and ask the management questions on any issues about Cytonn’s activities.

The event will run from 12 noon to 4 pm, so that clients have enough time to explore the site, view the show house, and interact with the management of Cytonn.

The Ridge.

Alongside the open day, the company is offering a 5% discount for early buyers, which will run for a limited time. Interested guests are advised to sign up and reserve their slots before spaces run out.

This project was made for people who want to live in luxury and style, at surprisingly affordable rates. The list of amenities goes on and on, but I think the best part about it is the location. Imagine living just a few minutes from Windsor Golf Club, Two Rivers Mall, UNEP headquarters, and only 10 km from town!

The luxury project will have 1,2,3 & 3 bedroom apartments withdomestic servants’ quarters (DSQ).

Just a few months ago, Cytonn handed over the Amara in Karen, another of its projects, which is currently 100% complete and sold, proving they have what it takes to deliver beautiful, exclusive homes that perceptive Kenyans can enjoy.

If you want to buy a home or to invest, this is your opportunity! You cannot afford to miss out. RSVP here.

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Cytonn and Taaleri of Finland Enhance Their Partnership via Agreement for Subscription of 20% Cytonn Stake

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Signing of agreement.

Cytonn Investments Management Plc (‘Cytonn’), the leading alternative investment management firm in the East African Region, has today entered into a transaction with its leading institutional partner, Taaleri of Finland, whereby Taaleri has acquired the option to subscribe for up to 20% of Cytonn. Upon consummation, the transaction enhances the Cytonn & Taaleri relationship beyond project finance to shareholding.

This will be the 5th time the Finnish firm will be investing with Cytonn, having already committed over Kshs 5.0 bn towards projects and investments with Cytonn, namely The Alma, The Ridge, Situ Village and Amara Ridge, which has already been delivered to homeowners. In addition to their investments, Taaleri has already successfully received back its investments from Amara Ridge and The Alma, underlining Cytonn’s commitment to deliver above-average returns in real estate for global institutional investors.

Taaleri is a financial group, whose parent company Taaleri Oyj’s shares are listed on the NASDAQ stock exchange. Taaleri manages investments worth Kshs 813 bn and provides funding in the capital-intensive real estate sector in Africa through two Africa dedicated real estate funds.

Speaking at the signing of the agreement, Edwin H. Dande, CEO of Cytonn Investments, noted that “We are thankful to Taaleri for the continued support they have shown to the Cytonn brand. This transaction is important for two reasons; first it affirms market confidence in our brand and unique business model, and second it provides a strong anchor investor as we prepare for our IPO, which we hope to complete next year, either at a local or global exchange. We have already engaged with two sets of transaction advisors, in Nairobi and London, to explore a local listing either at the Nairobi Securities Exchange, NSE, or a listing at the London Stock Exchange, LSE, respectively. The ultimate listing jurisdiction will depend on valuation, investor interest and ease of listing. We also hope to broaden our partnerships by bringing on board one additional local or global anchor institutional investor at the IPO.”

Related Content:  Cytonn Opens Doors To The Public As They Unveil The Ridge Show House

Speaking at the signing, Mr. Juhani Elomaa, CEO of Taaleri Group, who recently visited Cytonn’s real estate projects noted that “Taaleri and Cytonn are now in their fifth year of partnership, and Cytonn remains our trusted partner for deploying capital to the East African Region. Through Cytonn, Finnish Pension Funds and Investors have not only earned attractive returns that are not available in the developed markets, but we have contributed to growing the Kenyan economy, creating jobs, and driving the deepening of capital markets through structured finance transactions. The share options agreement for a 20% stake is an opportunity to deepen the relationship beyond project finance to shareholding.”

Cytonn Investments Management Plc is an independent investment management firm, with offices in Nairobi – Kenya and D.C. Metro – U.S.l and are primarily focused on offering alternative investment solutions to individual high net-worth investors, global and institutional investors and Kenyans in the diaspora interested in the high-growth East-African region. They currently have over Kshs 82.0 billion of investments and projects under mandate, mainly in real estate.

Cytonn Real Estate is Cytonn’s development affiliate, which is focused on developing institutional grade real estate targeted at specific institutional, high net-worth and Diaspora investors. Collective, Cytonn Investments and Cytonn Real Estate manage over Kshs 82.0 billion of real estate projects.


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