Cytonn hands over Sh100m houses to Karen owners


Cytonn chief investment officer Elizabeth Nkukuu. FILE PHOTO | NMG

Investment firm Cytonn has handed over Amara Ridge, a gated community in Karen, to its owners.

The houses were sold for between Sh90 million and Sh112 million, depending on whether a customer bought early in the project or towards its completion.

The development, which was sold out five months before its targeted completion date, offers lifestyle amenities with a clubhouse and security features.

It also features two architectural styles – a classical and a contemporary design to cater for diverse tastes.

“Today is a great day for us, not just for Cytonn but also for clients who believed in us. We started Amara Ridge in 2015, and to have all units taken and completed is a great achievement,” said Cytonn chief investment officer and head of real estate Elizabeth Nkukuu.

READ: Cytonn to build Sh13bn luxury homes in Kiambu

“There is still room for these kinds of developments, for people who don’t want a lot of houses together and we are looking into doing more,” she added.

The development sits opposite Bomas of Kenya and boasts close proximity to high-end retail stores, shopping malls offering easy access to outdoor entertainment sites such as Nairobi National Park.

It sits on five acres piece of land comprising 10 units.

The first Cytonn’s real estate project was financed by Cytonn Investments and Finland-based NASDAQ OMX listed Taaleritehdas.

The company last week announced a seven-fold growth in third-quarter net profit to Sh526 million, which were mainly driven by its investment in the real estate sector.