NAIROBI, Kenya, Nov 13 – Cytonn Investments is set to inject Sh13 billion into residential and commercial development in a 100-acre coffee plantation in Kiambu.
According to the Business Daily, the development is set to host about 6500 people and a five-star hotel.
The development will be done through a special purpose vehicle jointly formed with local and foreign investors, Cytonn Investment Partners Five LLP.
The five-star waterfront hotel comprises 34 luxury rooms, 36 cottages and four water cottages on 1.97 acres reserved for the hotel development next to an eight-acre dam.
“Details disclosed to the National Environment Management Authority (Nema) says high-class Zone A section will comprise 105 maisonettes, a luxury hotel with a spa, four meeting rooms, a lake pub, two restaurants and two pubs. Zone B has been reserved for a school, a commercial centre housing a mini-mart, retail shops as well as food and beverage outlets,” Business Daily reports.
Cytonn recently commissioned 35-floor triplex Cytonn Towers valued at Sh20 billion that will house 160 serviced apartments, offices on its 30 floors, three-bedroom duplex apartments and penthouse suites as well as a hotel boasting of 180 hotel rooms.
The firm has in the past been boosted by partners especially Finland-based private equity firm, Taaleri.