Cytonn, CATIC in a Kshs 3 Billion development project

Africa Business Real Estate Regional

By Jacktone Lawi
Cytonn Real Estate has partnered with international contractor China National Aero Technology International Engineering Corporation (CATIC) to develop a Kshs 3 Billion comprehensive lifestyle development project in Ruaka
Strategically located in the heart of the fast growing Ruaka neighborhood, The Alma is a comprehensive lifestyle development encompassing 408 modern apartments with impeccable finishing, and will also encompass a commercial facility to provide basic necessities to the residents, a lifestyle clubhouse for residents, high levels of security, a borehole, an elevated playground for children and ample parking facility.
The development targets a capital appreciation of 23% per annum during development period, which is estimated to be two and a half years.
These 1, 2 and 3 bedroom apartment options are set across a 4.18-acre parcel of land located on the main Limuru road, 100 meters from the junction of the northern bypass, and a 5-minute commute from retail and commercial facilities such as Two Rivers mall, Village Market, and the Rosslyn mall development.
“Our deal pipeline serves the various segments of the market ranging from the high end, such as the Amara Ridge whose construction is ongoing in Karen, to the middle to lower-middle income like The Alma, which will offer a comprehensive lifestyle and a secure community to the future families” said Cytonn’s Chief Investment Officer Elizabeth Nkukuu, at the groundbreaking ceremony.
“In addition to safe neighborhoods, through real estate, we aim to create more jobs, grow the economy and raise the standards of living in the country. At its peak, the development will have created over 1,000 jobs mainly for Kiambu County.,” added Elizabeth Nkukuu.
CATIC are popularly known for constructing developments in Nairobi such as the upcoming Two Rivers Mall, Old Mutual- UAP towers, Jomo Kenyatta International Airport Terminal, Karen Bogani Villas among others.

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