Swiss hotel giant to inject Sh7 bn into Nyeri mixed development plan

What you need to know:

The joint project with Mount Kenya Holiday Homes will boast a clubhouse, a nine hole reversible to 18 hole golf course as well as a 75-bed suite hotel.
The 5-star resort will also be surrounded by 281 villas, apartments, townhouses and an all-suite hotel near Naromoru town.
Partners say that all regulatory approvals have been procured for the real estate project which sits on a 130 acre parcel of land that will be marketed globally to pensioners, business travellers and celebrities.

Global hotel chain, Swiss International Hotels and Resorts, has announced the investment of Sh7 billion into the construction of its first Kenyan outlet on the foothills of Mount Kenya.

The multinational has partnered with Mount Kenya Holiday Homes Ltd in a mixed development venture where 283 houses will be sold out and leased back to the global brand for use as rental villas.

The Swiss firm's chief executive Henri Kennedie said the project would be jointly executed with its Kenyan partner with its planned buy-leaseback model ensuring consistent flow of customers from the facility located in Nyeri county.

The development will boast a clubhouse, a nine hole reversible to 18 hole golf course as well as a 75-bed suite hotel.

Mr Kennedie said architectural plans for the 5-star resort surrounded by 281 villas, apartments, townhouses and an all-suite hotel near Naromoru town had since been approved allowing initiation of the project.

“In Nanyuki there is a wonderful airstrip and the view of Africa’s second highest mountain every evening and morning giving us a reason to build a serene environment for memorable leisure,” he said.

The CEO added that the facility would also provide conference and hotel facilities for company meetings as well as bonding meetings for local and international teams.

Mr Ndirangu Ndegwa of Mount Kenya Holiday Homes echoed that all regulatory approvals had been procured for the real estate project which sits on a 130 acre parcel of land that will be marketed globally to pensioners, business travellers and celebrities.

“The development includes a conserved natural-forest area hosting a variety of wildlife including zebra, impala, Thomson gazelles, dikdik, and ostrich as well as over 100 bird species. Development of the second phase will commence immediately after the first phase of villas is sold out,” he said.

Mr Kennedie revealed that Mount Kenya Holiday Homes approached the Swiss chain through financial advisory firm IAF East Africa seeking to partner in co-developing of the resort.

Swiss International has expanded its presence in Africa with two hotels in Nigeria, one in Rwanda and another in Sierra Leone while another one is in the works in Rwanda, making Kenya its 5th in the region.