Firm to invest US$ 14m in Riat Hill Villas in Kisumu, Kenya

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A US$ 14m Swedish gated community estate project is underway in Riat Hills, 3km from Kisumu International Airport in Kenya.

The real estate development project, which sits on 8.5 acres of land overlooks the Lake Victoria and will include construction of 30 Swedish style villas called Riat Hill Villas. These villas comprise of two options; the Villa Gothernburg and Villa Stockholm.

Each unit will consist of 4 bedrooms all ensuite houses with walk in closet, expansive roof terrace with Jacuzzi and two room staff quarters. A club house with a swimming pool will also be constructed.

Fred Anderson, the founder of the Coromandele Investment Ltd, which is undertaking the new investment said that 10 units of the proposed plan have already been sold off and construction of the 10 will be complete within a year.

The real estate project will be developed by Coromandele Design which is a local subsidiary of the developing company.

Riat Hill has attracted wealthy individuals who are investing in the area, among them former Prime Minister Raila Odinga who is also investing in a 74-room mansion. The building will have conference rooms, offices and neighbored by an extensive garden. The Riat Hill Villas will, among other housing developments in the area, be expected to feed Kisumu’s booming real estate market.