NAIROBI,
KENYA, JUNE 17, 2016 –Cytonn
Real Estate, a leading real estate developer in the region, launched its latest
real estate product, RiverRun Estates. RiverRun Estates is an outstanding Kshs.
15 billion master planned development located in Ruiru, Kiambu County. When
complete, the development shall deliver 1,200 aspirational homes with a
population of approximately 4,500 and target investment returns of 27.4% per
annum.
Seated on 100-acres of land in Kiambu County, within
proximity of both Migaa Golf Estates and Tatu City, RiverRun Estates is
conveniently located 35 minutes from Nairobi CBD and 45 minutes to the Jomo
Kenyatta International Airport. The development provides a destination where
community living is accentuated to create a more fulfilling and contented
rhythm, breaking away from the hustle and bustle of city life.
The development comprises of 1,200 residential
units, to be complimented by social amenities that include a commercial center,
a school, water theme park, riverfront promenade and a salient feature; an
ultra-modern hotel with a frontage to a beautiful dam.
RiverRun Estates Project Manager, Peter Karenju,
said that the project seeks to offer the perfect home for both first time home
owners as it promotes community living, with enhanced security and social
amenities. Clients have the option of choosing between the various house
typologies ranging from 4 bedroom units sitting on a sixteenth, eighth and
quarter acre plots.
“To promote a serene environment, the master plan
creates an optimum balance to the development density with apartment units
efficiently placed at the upper peripherals of the slopes creating a free
circulation feel to the centre of the development. To promote a green
environment, green pockets are effectively distributed across the development,”
added Karenju.
RiverRun Estates is Cytonn Real Estate’s 3rd
development in Kiambu County, as they respond to the growing demand for
residential units to house the ever growing middle-class seeking high quality
and secure neighbourhoods, supported by the high returns to investors as
witnessed from their Ruaka developments, The Alma and Taraji Heights. Kiambu County
is home to 6 of the top 10 fastest growing towns in Kenya.
“Our deal pipeline serves the various segments of the
market ranging from the high end, such as the Amara Ridge in Karen, whose
construction is nearing completion, to the middle to lower-middle income like RiverRun
Estates, which will offer a comprehensive lifestyle and a secure community to
families,” said Cytonn’s Chief Investments Officer and Head of Real Estate
Elizabeth Nkukuu, CFA. “In addition to creating secure communities, these
developments are also creating jobs, contributing to the growth of the economy
and raising the standards of living in the country,” added Elizabeth.
The development will be implemented in three phases
with phase one comprising of 263 units of town houses and villas with a
starting price of Kshs. 13 million.
Below are the developments being undertaken by Cytonn Real Estate:
|
|
Projects |
Concept |
Development Return |
Buyers
Return |
Project
Size |
Project
Start Date |
Investment
Opportunity |
|
|||||||||
|
|
(% p.a.) |
(% p.a.) |
(Kshs Bn) |
|
|||||||||||||
|
SET 1 - Launched Projects |
|
||||||||||||||||
|
1 |
Amara Ridge |
10 exclusive villas, each sitting on a half-acre, with a
lifestyle clubhouse to complement the development |
25% |
24% |
1.0 |
May-15 |
Debt,
Mezzanine, Off-plan Villa |
|
|||||||||
|
2 |
The Alma |
Integrated lifestyle development featuring 450 units of 1, 2
& 3-bedroom apartments, as well as a retail, commercial & lifestyle
facility |
25%-30% |
55% |
4.2 |
May-16 |
Debt,
Mezzanine, Off-plan Residential Unit |
|
|||||||||
|
3 |
NewTown |
Master planned city in Athi River - encompassing housing
clusters, high density residential, an office precinct, educational centre
and trade centre |
25%-30% |
25% - 30% |
22.5 |
Nov-17 |
Equity,
Debt, Mezzanine |
|
|||||||||
|
4 |
Taraji Heights |
Integrated lifestyle development featuring 250 units of 2 and
3-bedroom apartments, as well as lifestyle facilities, in the heart of Ruaka |
25%-30% |
25% - 30% |
2.5 |
Apr-17 |
Equity,
Debt, Mezzanine, Off-plan Residential Unit |
|
|||||||||
|
5 |
The Ridge |
High density mixed-use development in Ridgeways in Nairobi,
comprising of 800 units of residential, commercial, retail and lifestyle |
25%-30% |
25% - 30% |
12.1 |
Jun-17 |
Equity,
Debt, Mezzanine, Off-plan residential Unit |
|
|||||||||
|
6 |
Situ Village |
Master planned gated community, with 50 exclusive villas, each
sitting on a half-acre, retail, commercial facility and a clubhouse and
lifestyle facility featuring exclusive cottages |
35% |
25% - 30% |
5.5 |
Jun-17 |
Debt,
Mezzanine, Off-plan Villa |
|
|||||||||
|
|
Sub - Total |
|
|
|
47.8 |
|
|
|
|||||||||
|
|
SET 2 - Projects at the Design Stage |
|
|
|
|
|
|
||||||||||
|
7 |
Project Westlands |
Serviced apartment development in a prime location in the heart
of Nairobi |
25% - 30% |
25% - 30% |
0.8 |
Aug-17 |
Equity,
Debt, Mezzanine |
|
|||||||||
|
8 |
RiverRun Estates |
High density mixed-use development in Ruiru in Kiambu,
comprising of 1,200 residential units, commercial, retail and lifestyle |
25% |
25% - 30% |
15.0 |
Sep-17 |
Equity,
Debt, Mezzanine |
|
|||||||||
|
|
Sub - Total |
|
|
|
15.8 |
|
|
|
|||||||||
|
|
SET 3 - Projects at Deal Origination* |
|
|
|
|
|
|
||||||||||
|
9 |
Project Kilimani |
High density mixed-use development in Kilimani, comprising of 1,
2 and 3-bedroom apartments, office, retail, hospitality and an executive club |
25% - 30% |
25% - 30% |
15.4 |
Mar-18 |
Equity,
Debt, Mezzanine |
|
|||||||||
|
10 |
Project New Kitisuru |
15 exclusive villas, on a 5-acre parcel, with a lifestyle
clubhouse to complement the development |
25% - 30% |
25% - 30% |
1.1 |
Dec-17 |
Equity,
Debt,Mezzanine |
|
|||||||||
|
11 |
Project Karen |
20 exclusive villas, each sitting on a half-acre, with a
lifestyle clubhouse to complement the development |
25% - 30% |
25% - 30% |
2.1 |
Oct-17 |
Equity,
Debt, Mezzanine |
|
|||||||||
|
|
Sub- Total |
|
|
|
18.6 |
|
|
|
|||||||||
|
|
GRAND TOTAL |
|
|
82.2 |
|
|
|
||||||||||
|
|
Data for sophisticated / institutional investors only |
|
|
|
|
|
|
||||||||||
|
Contact investment@cytonn.com for all investment opportunities
for each specific project |
|||||||||||||||||
