On Tuesday, 10th April 2018. Cytonn Real Estate (CRE) held a tender award ceremony at the Park Inn by Radison, Westlands. The ceremony celebrated the newly formed partnership between Cytonn Real Estate and China Railway Jianchang Engineering Ltd (CRJE), who were awarded the tender as main contractor for The Ridge, a Kshs 14 billion Mixed Use Development project located in a 10-acre piece of land in Ridgeways, Nairobi County.
(L-R) Jie Shen - Director CRJE, Xie Zhixiang - MD of CRJE, Madhav Bhalla - SPV Board Chair & Elizabeth Nkukuu, Head of Cytonn Real Estate. (Standing) Martin Gitonga, Senior Project Manager at Cytonn Investments
The Ridge comprises of residential and commercial spaces, with the residential development consisting of 1, 2 and 3 bedroom apartments. There are also options of 3 bedroom apartments with a domestic servant quarter, both standard and premium, and penthouses that occupy the topmost floor.
The Ridge's residential complex has outdoor sitting spaces and recreational facilities
Its commercial development comprises over 2000 square meters of retail and office space, consisting of a mini-mart, convenience stores, salon, and laundry among others. The retail centre also houses 1 & 2 bedrooms serviced apartments for comfortable long and short stays visitors.
The Ridge's Stunning Commercial Centre
CRJE is one of the world’s largest construction and engineering company in the worlds and is listed in the Shanghai and Hong Kong stock exchanges. The company has had operations in the East African region largely Tanzania and they have carried out many real estate and civil projects internationally. They are registered by National Construction Authority as a Class I Building & Civil Contractor Company. They were the contractors of Hyatt Regency Kilimanjaro Hotel in Tanzania, The Water front in Karen and Phase 2 of MPESA Foundation Academy.
Elizabeth Nkukuu, Chief Investments Officer at Cytonn Investments making her remarks at the awards ceremony
Elizabeth Nkukuu, Head of Cytonn Real Estate (CRE) expressed her optimism for the newly formed partnership between CRE and CRJE.
“ Cytonn Investments is about delivering great returns to our investors and aspirational homes to our clients, we therefore shall require our partners to maintain the highest quality standard in all our developments. As partners we expect to look at all challenges together and come up with the best possible solutions for the development.” She advised.
Xie Zhixiang (M.D CRJE East Africa) expressing CRJEs commitment to delivering timely and quality work on the project
The Managing Director of CRJE, Xie Zhixiang, was grateful to Cytonn for entrusting them with the construction of, The Ridge. He pointed out that CRJE had completed many big projects successfully, reassuring that The Ridge construction is in good hands and promising that CRJE would deliver quality work and adhere to the global best construction standards.
James Maina (Director, Cytonn Board) outlining his expectations for The Ridge construction
James Maina, a non-executive director in Cytonn’s board, congratulated CRJE for getting the award and noted that this was based on their competence and technical capability to deliver projects. He urged the contractors to leverage their expertise and deliver quality as there has been an increasing demand for quality products in the Real Estate sector. He also invited CRJE to not only become contractors, but also long term to be long partners with Cytonn. He sensitized on the adherence to the government regulations while constructing so as to remain on the safe side of the law.
Madhav Bhalla (Chair, Ridge Board) expressing his confidence in CRJEs ability to deliver a good project
The Chair of the Ridge board, Madhav Bhalla, expressed his confidence in CRJE and affirmed that he’s looking forward to the commencement of main works at The Ridge.
The highlight of the event was the signing of the award contracts by Shen - Director CRJE, Xie Zhixiang - MD of CRJE, Madhav Bhalla - SPV Board Chair & Elizabeth Nkukuu, Head of Cytonn Real Estate, which officially marked CRJE as the main contractor.
