On 29th September 2018, Cytonn held its Company, Markets & Projects Updates Event for Quarter 3. The quarterly forums enable the company to provide updates to investors on our outlook of the economy and attractive investment opportunities, while also addressing any questions clients may have pertaining to their investment with Cytonn.
The event was held at The Alma, a comprehensive residential development in Ruaka by Cytonn Real Estate. Investors present also had the chance to inspect the progress of The Alma which is currently 67.0% complete, and visit the show houses for the 1, 2 & 3 bedroom units.
John Ndua, Investment Associate, Cytonn Investments
Speaking during the forum, John Ndua, Cytonn’s Investment Associate presented Kenya’s economic review, highlighting the various areas that will shape economic growth in 2018. “We maintain our positive outlook on the 2018 macroeconomic environment, supported by Agriculture, Real Estate, Construction, together with accommodation and food services”, noted Ndua.
Victoria Wanyanga, Cytonn’s Project Management Assistant updated on the progress of the various projects by Cytonn Real Estate. These projects include the Amara Ridge, which is 100% complete with all units sold, and The Alma which is 67.0% complete with hand-over of the 1st phase expected in Quarter 1, 2019, among others.
Grace Weru, Finance and Administration Manager, Cytonn Investments
Grace Weru, Cytonn’s Finance and Administration Manager, gave important updates regarding the Cytonn High Yield Solutions (CHYS), an investment product by Cytonn Investments. Grace highlighted the governance structure of CHYS, noting that assets under management had grown from Kshs. 7.6 billion in December 2017 to Kshs. 10.3 billion as at September 2018.
Faith Maina, Investment Analyst at Cytonn Investments, presented the actionable investment opportunities, noting that there are three broad ways through which one can invest in real estate. These are equities, mezzanines and project notes. “Project Notes are used to finance real estate developments, and allow all investors access to attractive real estate returns, that would not necessarily be available in the public domain’’, said Faith.
Edwin Dande, CEO, Cytonn Investments
Edwin Dande, CEO, Cytonn Investments, noted that the main reason the company holds such events at their real estate developments is to boost investor confidence and show them the progress of the projects. Edwin, also explained in detail the dispute that part of the Senior Management of Cytonn Investments are involved in with their former employer, Britam, assuring the investors that there was no foul play from their part, and urging them to maintain their confidence in the company.
He also led the Q & A session, where client questions were addressed by Senior Management.
A client asks a question during the event
The vote of thanks was given by Cytonn’s Project Management Associate Yvonne Ondego, who appreciated the clients for turning up, and invited the guests to join in the Alma Showcase.
