Kenya: Cytonn breaks ground on $145.4m real estate development

Cytonn Investment, a real estate developer based in Kenya recently broke ground on its mixed-use project in Kiambu County’s Ruiru district.

The development, RiverRun Estates, comprises 1,258 residential units; among which 600 will be town houses and villas and over 600 apartments at a total cost of $145.5m. It will include a promenade, a school, water theme park, boat club and a boutique hotel.

The project managerPeter Karenju said that the estate’s 1000 plus square metres of retail space will allow the residents to live an all-inclusive and lifestyle.

The development will accommodate from lower middle income earners to high-end properties, with the houses expected to range between $97,000 and $475,300. The project is expected to reach completion in June 2022.

Cytonn has partnered with Aspera Designs from Kenya and AUD Architects from Finland to develop the project. Currently, the company has over 12 developments under its belt valued at $74.69Bn. Among these are Amare Ridge in Karen, Situ village in Ololua, Ridgeways’ The Ridge and Newton as well as a proposed 1000-acre mixed-use development in Athi River.

Cytonn Investments is an investments and real estate company primarily focused on offering alternative investment solutions to global institutional investors, individual high net-worth investors, local institutional investors and diaspora investors interested in the East-African region.

They base their alternative investments solutions on four main products: real estate, structured solutions, private equity and advisory.