A Chinese-built housing project located 17 kilometers northwest of Kenya’s capital Nairobi is expected to be completed in the first quarter of 2019, developers said on Monday.
Cytonn Investments Chief Investment Officer (CIO) Elizabeth Nkukuu told Xinhua that the real estate project will help meet the rising demand for housing units in Kenya.
The 40-million-U.S.-dollar mixed housing project, dubbed Alma, is being constructed by China National Aero-Technology International Engineering Corporation (CATIC).
“The project consisting of 453 residential units, commercial and lifestyle facilities is currently 25 percent complete and 60 percent sold to investors,” Nkukuu said.
She noted that the project is set to change the real estate landscape in Kenya as it is built to world class standards.
CATIC has already completed construction of the Old Mutual-UAP Towers, one of the largest buildings in Kenya, as well as the largest shopping complex in East Africa, the Two Rivers Mall.
Cytonn, with 820 million dollars worth of housing projects under development, has ten developments at different phases of development. Enditem