Real Estate: Cytonn completes Ruaka housing development
Cytonn Real Estate, the development affiliate of Cytonn Investments has handed over the first phase of its flagship residential development, The Alma, to its owners. Located in Ruaka town, the project consists of 113, one, two and three-bedroom master en suite apartments.
Speaking during the handover ceremony Cytonn Investments CEO, Edwin Dande said a lot of research went into our decision to build The Alma. “Ruaka has one of the highest residential occupancies in the country. As the town grows, there is increased demand for housing with superior amenities, great finishes and strategic location,” he said.
He said proximity to key social amenities such as schools, shopping malls and hospitals elevate the living experience for the new homes.
Prof Daniel Mugendi, chairman of Cytonn’s Board said: “With this milestone, we continue to demonstrate that we will go to great lengths to deliver the promises we made to our clients. The real estate sector has been impacted by a tough economy, but the different teams have rallied, and the result is evident for all to see”.
The project sits on 4.7 acres and will have 477 1, 2- and 3-bedroom units as well as a retail centre, nursery school, elevated playgrounds, gym, and a swimming pool.
Chief guest, former Prime Minister and African Union High Representative for Infrastructure Development in Africa Raila Odinga said completion of Alma Phase 1 is an example of what Kenya can achieve when the government and private developers work together.
“It gives me hope when I see people working hard to produce world-class products. I would urge the national government to embrace private sector to make affordable housing project a reality,” said Raila.
The Alma which will be handed over in three phases is the most recent project by Cytonn following last year’s completion and handing over of Amara Ridge in Karen.
Kiambu Governor Ferdinand Waititu, who graced the event before he was arrested last weekend, said the development is a big step towards realisation of the medium-term plans of the Vision 2030 and the Big Four Agenda pillars of affordable housing.