Approximately US $60m is set to be spent on real estate projects in Central Kenya by Cytonn Investments as part of their expansion objective.
The firm has also opened an office in Nyeri town to help in the development plans. It also plans to open other offices in coastal, western and North Rift regions before the end of this year and it brings to 6 the total number of Cytonn Investments Management Plc offices.
Cytonn Investments Management Plc confirmed the reports through a statement released recently. It stated that the new office will serve the growing demand in the Mt. Kenya region.
Also Read: Cytonn to construct US $125m residential-cum-commercial development in Kenya
“Cytonn Investments Management Plc opened an office to serve the Mt Kenya region and tap into the vast real estate investment opportunities the region offers. The office will seek to serve the growing demand in the region as part of the company’s regional expansion plan,” the company said in a statement.
Cytonn Real Estate which is the development affiliate of the company was looking to put up mixed-use developments besides venturing into hospitality focusing on the Mt Kenya region, but they now want to focus on diversification both locally and into other African markets.
Cytonn’s CEO Edwin Dande confirmed that the first phase of the firm’s growth had focused on Nairobi’s metropolitan, where it has real estate projects worth over US $801m.
About Cytonn investments
Cytonn Investments is an investments and real estate company, with offices in Nairobi – Kenya and DC Metro area – U.S. primarily focused on offering alternative investment solutions to global institutional investors, individual high net-worth investors, local institutional investors and Diaspora investors interested in the East-African region.
They base their alternative investments solutions on four main products: real estate, structured solutions, private equity and advisory.
