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Home / Media Center / CYTONN REAL ESTATE LAUNCHES ITS LATEST PRODUCT, A KSHS. 15 BILLION DEVELOPMENT ON 100-ACRES IN RUIRU, RIVERRUN ESTATES

CYTONN REAL ESTATE LAUNCHES ITS LATEST PRODUCT, A KSHS. 15 BILLION DEVELOPMENT ON 100-ACRES IN RUIRU, RIVERRUN ESTATES

June 17, 2017

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

© 2017 Cytonn Investments Management Ltd