Cytonn to expand real estate business through franchising

March 24, 2016
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The partnership is the first of its kind in the region, which seeks to address the housing shortage in Kenya, while creating jobs and developing safe, secure and attractive neighborhoods/FILE
The partnership is the first of its kind in the region, which seeks to address the housing shortage in Kenya, while creating jobs and developing safe, secure and attractive neighborhoods/FILE

, NAIROBI, Kenya, March 24 – Cytonn Real Estate, the development affiliate of Cytonn Investments, is set to increase its footprint across the country and in the region by seeking to partner with entrepreneurs through a franchise model.

The partnership is the first of its kind in the region, which seeks to address the housing shortage in Kenya, while creating jobs and developing safe, secure and attractive neighborhoods.

“With Kenya’s annual housing deficit estimated at 200,000 units annually, this franchising model seeks to address the challenges hindering the development of affordable and quality housing units, using Cytonn’s brand, execution template and platform,” said Elizabeth Nkukuu, Chief Investment Officer at the launch of the Cytonn Real Estate Franchise.

The franchisees have the added benefit of accessing Cytonn Real Estate’s expertise in identifying, evaluating, structuring and financing world-class real estate projects.

Through the Cytonn brand, the franchisee will be able to offer a range of services that includes real estate deal origination and site acquisition, agency services and facilities and property management.

Cytonn Real Estate currently has 1,200 acres in development in Nairobi metropolis and projects under development valued at Sh57 billion.

“We are confident that with this unique franchising opportunity, the Cytonn brand will be a catalyst for growth in the real estate industry. Our fundamental objectives are to address the housing shortage, create employment opportunities and play our part in the growth of our economy,” added Nkukuu.

Franchisees will have the option of adopting the 100 per cent franchise model that allows the franchisee to cater for the total license cost and operate the business independently, or additionally to participate in a part ownership model.

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