Cytonn Real Estate, the development arm of Cytonn Investments has today awarded architects for the design of its latest project, an upcoming masterplanned development on a 100-acre piece of land in Ruiru, Kiambu County.
The development, valued at over Ksh. 15 Billion, shall comprise over 1,400 residential units in the form of townhouses, maisonettes and low-rise apartments, a commercial center and a state of the art hotel with a frontage of a salient water feature.
The contract signing was graced by Finnish Ambassador to Kenya H.E. Tarja Fernandez. She lauded Cytonn for its partnership with Finland noting that there is a great interest by Finland to Kenya and the already existing partnership between Cytonn and Taaleri of Finland solidifies the relationship between both nations.
Finland Ambassador to Kenya H.E. Tarja Fernandez makes her address during the contract signing ceremony
Cytonn Chief Executive Officer Edwin H. Dande said that Cytonn began its partnership with Finland in 2014 through Taaleri, a private equity investment firm that saw good returns from the projects they invested in such as The Alma in Ruaka where they exited early and made a 25 percent return on the investment. "We focus on delivering the best products in the market. To achieve this, we value partnerships that bring on board the best services and through the partnership with AUD Architects, we are positive we shall deliver the best project to the market," said Edwin.
Cytonn Managing Partner
and CEO Edwin H. Dande makes his address
Legal Analyst Doreen Onwonga directs AUD Architect Niko Tiula (seated on the right) and Cytonn’s Project Manager Peter Karenju to sign the contract as (standing left to right) Cytonn CEO Edwin H. Dande, Architect Paul Oburu, Ruiru Land Joint Venture Partner David Mwangi, Cytonn CIO Elizabeth N. Nkukuu and Finland Ambassador to Kenya H.E. Tarja Fernandez look on.
Cytonn Project Manager Peter Karenju said that the
Ruiru project is a unique project that requires unique partnership with the
right people. “It is for this reason that we partnered with AUD of Finland that
we trust shall offer the best designs for the project. We applaud Kenyan Architect
Paul Oburu and AUD for their collaborative efforts and hope for a smooth
working relationship throughout the life of the project,” he said.
Cytonn Board Member James Maina (Left) and Ruiru Land Joint Venture Partner David Mwangi listen in to the speeches
Cytonn
Real Estate has over 14 development projects in the pipeline including Amara
Ridge in Karen which is 80 percent complete and 100 percent sold, Situ Village
also in Karen, The Alma in Ruaka which is 15 percent complete and 55 percent
sold, The Ridge in Ridgeways, Taraji Heights in Ruaka which is set for
groundbreaking on 27th March 2017 and Newtown, a masterplan city in Athi River.
