Safaricom Pension Scheme’s real estate development, dubbed Crystal Rivers, and which is being put up at a cost of Ksh 4.3 billion, is set to open in six months’ time.
Crystal Rivers is expected to be an exciting project along Mombasa Road comprising of a state-of-the-art mall on 5.7 acres with a total of 200,000 Square Feet of letting floor space, and a residential area consisting of 3 and 4 bedroom townhouses, plus a cluster of 3 bedroom apartments.
Like many other pension schemes, the Safaricom staff scheme is investing in real estate as a long term source of returns that will benefit the members when they finally retire from active employment.
Speaking during a media briefing, Safaricom Staff Pension Scheme Board of Trustees Chairman Joseph Ogutu said that Crystal Rivers Mall is now expected to be ready for occupation and open for business in mid- 2017. This he added, are the right timelines for the project seeing as it is the largest single such real estate development in Machakos County.
“Crystal Rivers will be a space for closing business deals, for valuable family time, growing families, one where livelihoods are made and a commercial space where we build our homes,” said Ogutu.
He added that the location of the development was very strategic as it fits the region’s sustained demand for quality housing and commercial space. Machakos County, where the project sits, continues to experience an annual population growth of 2 percent, creating demand for 1,500 housing units every year.
“Today, we see many of Nairobi city residents, including many of my colleagues, moving to the peripheral of the city in search of the perfect living space for our families. We have seen tremendous population growth in Syokimau, Athi River, Kitengela and even Embakasi.
More industries and businesses continue to come up here in line with our growing economy, most notably, the Standard Gauge Railway station. As the population of these regions continues to grow, and as our children grow, there will be demand for sustainable living, recreational and working spaces,” explained Ogutu.
Crystal Rivers, he added, had gone beyond embodying the “Powered for Life” spirit of the Safaricom Pension Scheme by integrating the spirit of the Sustainable Development Goals.
“In line with Sustainable Development Goal 11, Sustainable Cities and Communities, Crystal Rivers is a safe, resilient, mixed development offering a mall and a residential section that will comprise of 398 housing units.
This thoughtful design ensures that Crystal Rivers lives and breathes 24 hours a day and will cater to all, be it the early morning bird, or the night hawk. Indeed, we anticipate the mall will comfortably handle 100,000 shoppers daily,” explained Ogutu.
Crystal Rivers has integrated green living spaces, including tree and vegetation lined streets, solar water heating for every home and a biodigester.
The mall will be able to accommodate at least 1000 vehicles while introducing SMART CITY installations for integrated internet and WIFI Internet access. In total, the mall provides for the largest single parking area in the County with 700 spaces on both the lower ground and upper ground floors.
In addition to Crystal Rivers, the Safaricom Staff Pension Scheme is also investing in Mandharini, an award-winning luxury development in Kilifi County.
