Cytonn Real Estate, the development affiliate of Cytonn Investments, has commenced development of the Applewood project, their signature and exclusive Ksh2.5 billion (US$24.9 million) residential gated community located in Karen.
Located along Miotoni Road, the 10-acre Applewood development is a great opportunity for home owners looking for a serene, luxurious and quality place to live with their families, while also delivering attractive returns to investors.
Each unit comprises of five bedrooms that sits on a half-acre piece of land. According to the management, the project was inspired by the need to live in a serene and quiet environment.
It comprises of two architectural styles, the classic and contemporary. The development comprises of expansive gardens, optional swimming pools, clubhouse, gym and backup generator.
It has heightened security features such as a perimeter wall, 24-hour surveillance with a centrally controlled gate.
Applewood location boasts of easy accessibility to a large concentration of international schools, several leisure and recreational sites such as The Hub shopping mall and The Water Front Park in Karen.
Speaking during the groundbreaking ceremony, Edwin H. Dande, CEO of Cytonn, said: “The Applewood project comes as an inspiration from the success of Amara Ridge in Karen, Cytonn’s development which we have completed and delivered in Karen. We still have clients looking for an Amara type home, and Applewood is our development to cater for that demand. Our research validates our investments in Karen, driven by the high-density of private schools, and increased accessibility.”
Real estate remains an attractive and vibrant sector in Kenya, and continues to be one of the growth drivers for the country’s economy.
“At Cytonn, we bring a professional and institutional approach to our real estate developments,” said Professor Daniel Mugendi, Chairman of the Board of Directors of Cytonn Investments.
“As we break ground on Applewood today, I would like to reassure you of Cytonn’s commitment to offering the very best to our clients and investors. For our investing clients, we offer the very best returns, and to our end users, an aspirational and quality place to live” added Prof. Mugendi.
Paul Oburu from Aspera Architects said the project that is nestled in the heart of the exclusive leafy suburbs of Karen, provides an opportunity to buy into a unique development in a serene environment and with an unforgettable waterfront experience.
Awarded to Kilimanjaro contractors, the project is set to commence construction in March this year.
Other developments by Cytonn Real Estate include Amara Ridge in Karen, The Alma in Ruaka, Situ Village in Karen, The Ridge in Ridgeways, RiverRun in Kiambu and Taraji Heights in Ruaka.
Cytonn Investments is an independent investment management firm, with offices in Nairobi – Kenya and D.C. Metro – U.S.
It is primarily focused on offering alternative investment solutions to individual high net-worth investors, global and institutional investors and Kenyans in the diaspora interested in the high-growth East-African region.
The firm currently has over Ksh82.1 billion (US$819.7 million) of investments and projects under its mandate, mainly in real estate.
Cytonn Real Estate, a development affiliate of Cytonn Investments, is focused on developing institutional grade real estate targeted at specific institutional, high net-worth and Diaspora investors.
Cytonn Investments and Cytonn Real Estate collectively manage over US$819.7 million of real estate projects.
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