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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.

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