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27 October, 2018

On 27th October 2018, Cytonn held the Q3' 2018 Company & Market Update at The Ridge in Ridgeways; the event also saw the company reveal The Ridge show houses. The forum enabled the company to provide updates on what is happening in the investments world and the different investment opportunities available in the market, while also addressing any questions the clients may have pertaining to their investments with Cytonn.

The Ridge, a signature development by Cytonn Real Estate, in Ridgeways

Samuel Ng’ang’a, Group Finance Manager, said that, “We are not immune to the prevailing tough economic environment, hence the 22% drop in profitability, however it is noteworthy that our core business of real estate performed very well, with 9 months gross profitability in real estate up by over 113%, to Kshs. 610.3 million from Kshs. 286.4 million for the same period last year. The drag in pre tax profit is mainly due to significant drops in our investments in equities, which dropped in line with equities market performance.”

(L-R) David Magu - Board Member, Mt Kenya Regional Office Board; Madhav Bhalla - Board Member Cytonn Investments; Edward Odundo - Board Chair, Cytonn Education Services; Pankaj Tyagi - Head of Cytonn Real Estate cutting the tape to The Ridge Show houses by Cytonn Real Estate

After the update meeting, the attendees got an opportunity to view the show houses for the 3 bd units with studios at The Ridge, Cytonn’s Ksh 14 bn comprehensive mixed-use development in Ridgeways. The Ridge is one of the 10 developments that Cytonn is currently developing to deliver high yielding returns for our investing clients and aspirational real estate for our real estate purchasers.