Tourism in Nakuru projected to rise with completion of ksh800m luxury homes

Nakuru County is set to receive a boost in tourism facilities following the completion of KSh800 million iconic holiday homes dubbed Lake Elementaita Mountain Lodge. Constructed by Superior Homes Kenya the luxury homes sit on a 12-acre plot along Nairobi-Nakuru Highway, the facility boasts of breathtaking uninterrupted panoramic views of Lake Elementaita, consisting of 33 standard Villas, 13 Villa Suites and 4 Executive Villas, conference facility with access to recreation facilities such as a bar and restaurant, gym, spa and an infinity swimming pool. “With the tourism sector projected to…

CNN discovers how Nairobi’s property development is reaching new heights

On this week’s episode of Marketplace Africa, host Eleni Giokos reports from Nairobi, Kenya, at a time where the city is becoming a worldwide property magnet. In its latest report, the global real estate consultancy Knight Frank declared Kenya as one of the top five property investment locations for Africa’s wealthiest individuals – coming third after the United Kingdom and the United States of America. Edwin Dande, the CEO of Cytonn Investments, explains why these individuals are now turning to Nairobi: “It tends to be a place where global companies…

Funding for Commercial Real Estate on the Rise

“The market is still growing at a faster clip than the rest of the World.” – JD Diabira, CEO of BHCI. The bilingual Francoreal Property Investment Summit taking place on 16 & 17 October 2018 in Dakar, Senegal will provide a platform for the region and continent’s premier real estate investors and developers to gauge opportunities in one of the world’s fastest growing zones – known colloquially as Francophone West and Central Africa. Providing macroeconomic and currency stability; through the West African Monetary Union (UEMOA) regional block, this integrated and increasingly developed…

Savannah cement CEO win top African leadership award

By Amos Njau Savannah Cement Managing Director Ronald Ndegwa has been awarded the prestigious African leadership CEO of the year 2018 award in an event held at Kigali Convention Center. The prize by Africa leadership Magazine UK awards leaders in corporate world who have over the years contributed to business growth in the continent at large. African leadership advisory board emphasized on importance of corporate leaders to solve the continent’s unemployment challenges. “We as Africa leadership advisory board (ALAB) recognizes efforts being made by regional corporate leaders towards prosperity but…

Ksh3.3 million up for grab for creative Engineers

Kenyan engineers, across all disciplines, have a chance of winning Ksh3.3 million (£25,000) following the opening of the Africa Prize for Engineering Innovation. The competition, an initiative of the Royal Academy of Engineering, is open to engineers who provide scalable entrepreneurial solutions for local problems. Applications will close on June 23 2018 and the winners will be announced in June 2019 and the Kenyan engineering fraternity will have another chance of producing a winner in the Africa-wide competition. 24-year-old Ugandan software engineer Brian Gitta won the 2018 Africa Prize for…

Kilimani, Westlands and Thindigua ranked as the best areas for apartment development.

Cytonn Real Estate, the development affiliate of Cytonn Investments, today released its Nairobi Metropolitan Area Residential Report – 2017/2018, ranking Kilimani, Westlands and Thindigua as the best areas for apartment development; and Karen, Runda Mumwe and Ruiru as the best areas for detached units’ development. The report analyzes the current state of the residential real estate sector in Kenya in terms of supply, demand, drivers, challenges, and performance. According to the report, the sector recorded total returns of 8.2% p.a compared to last year’s 9.4%, attributable to the protracted electioneering…

CYTONN MAINTAINS A POSITIVE OUTLOOK FOR THE MACROECONOMIC ENVIRONMENT

  “FOLLOWING A REVIEW OF THE FIRST HALF OF 2018, CYTONN MAINTAINS A POSITIVE OUTLOOK FOR THE MACROECONOMIC ENVIRONMENT IN KENYA, WITH BETTER GDP GROWTH PROSPECTS, SUPPORTED BY IMPROVED WEATHER CONDITIONS AND A CONDUCIVE OPERATING ENVIRONMENT”  Following a review of H1’2018, we maintain a positive outlook for the macro economic environment in Kenya, with better GDP prospects relative to 2017, supported by improved weather conditions and a conducive operating environment.   The Kenyan economy is projected to grow by 5.5% on average in 2018, according to GDP projections from 15…

Enhanced Infrastructure Helps Build Safer Communities in Nairobi’s

Kayole-Soweto, an informal settlement on the eastern periphery of Nairobi, is home to approximately 90,000 residents. And during a recent discussion I had with the Settlement Executive Committee (SEC) there, a female representative told me about her community and home: “This place has changed so much that we need a new name! Our community is improving because our houses have more value, we feel safer and businesses are growing.” This is largely thanks to the Kenya Informal Settlement Improvement Project (KISIP), which provides basic infrastructure such as tarmac roads, water…

Cytonn secures Ksh. 2.1 B more from Taaleri

Cytonn Investments has secured an additional Ksh. 2.1 billion in funding from their institutional partners, Taaleri of Finland, increasing their asset to Ksh. 5 billion. The treasuries is expected to be directed towards development projects such as the The Ridge, a Ksh 12.0 billion mixed use development construction located in Ridgeways, Nairobi County. This is one of the mega series of constructions underway by Cytonn Investments Management Plc, an independent investment management firm.  Speaking at the signing of the additional funding, Shiv Arora, Head of Real Estate Private Equity at…