Nairobi, Kenya April 11th 2018 Cytonn Real Estate is Cytonn investments development affiliate, which is focused on developing institutional grade real estate with currently over Kshs. 82 billion of real estate projects under its mandate. One of the projects under mandate is Cytonn Towers, a proposed mixed-use development located in Kilimani area, an approved commercial zone under Zone 04 of the City County Planning Ordinance. It will host a mix of residential apartments, Grade A offices, branded hotel and serviced apartments and a world class retail center.
This notwithstanding, it is noted that there is an alarmist statement doing rounds that is questioning the feasibility of the development. Consequently, we would like to clarify the following in regards to the proposed Cytonn Towers development:
As a responsible developer, Cytonn Real Estate is obligated to obtain all the necessary approvals for the various projects under its mandate, Cytonn Towers included, as required under the law. Currently, the project is in the process of obtaining various approvals required for development. Some of the crucial approvals that are required are as follows: Architectural plans Approval (NCC), Environmental Impact Assessment/ study certification, Traffic Impact Assessment and WRMA authorization.
Over and above these, another crucial part of this process is public participation, which is what we have initiated to take place on 14th April, 2018; this is a forum initiated by Cytonn. This forum will be used to discuss concerns that the neighboring communities may have with regards to the project as well as give a way forward on the matters raised.
We have engaged a number of professionals to assist in addressing various matters that would see a sustainable development, functionally, environmentally and socially to the end users, neighbors and any other stakeholders.
We have also engaged a number of professionals to assist in addressing various matters that would see a sustainable development functionally, environmentally and socially to the end users, neighbors and any other stakeholders.
We have for instance engaged the following additional experts in design stage for this aspirational development:
- A renown Traffic Assessment Engineer
- A renown Security Expert
- Consulting environmental & green building engineering expert
- Health and safety consultant
- Hydrologist and a waste management expert
It would be unfortunate to deny the immense benefits the development stands to bring to the neighbourhood and Kenyan economy once complete. Upon completion, the project will create over 10,000 jobs for local residents both in the development and the businesses that shall operate once completed; it will catalyze the opening up and improvement of infrastructure such as roads in Kilimani; it will bring a planned and state of the art integrated live, work and play environment that will minimize the need to move around for the residents and commercial applicants and there shall be a notable improvement of infrastructure and roads that shall improve the value of real estate in Kilimani and the surrounding areas
We are prepared to address any concerns that will emerge from the public participation forum both as required by the law, as part of our social responsibility to the communities we operate in and also for sustainable development, a core value of Cytonn Real Estate.
