, NAIROBI, Kenya, Aug 13 – Cytonn Investments and MySpace Properties have signed a real estate partnership focused on Mombasa that will bring together investors to finance development and landowners in the county in order to boost real estate development on Kenya’s Coast.
The partnership unveiled at an investment and real estate forum held at Whitesands Hotel in Mombasa is targeted at raising the quality of real estate development, while creating jobs and improving the standards of living.
“We are seeking partnership opportunities through joint ventures with landowners looking to develop properties where we provide financing through Cytonn Investments and real estate project management through our affiliate, Cytonn Real Estate,” said Cytonn Investments Chief Investment Officer, Elizabeth Nkukuu.
Cytonn will be focused on mobilizing capital from its global institutional investment relationships, led by Taaleritehdas of Finland, and MySpace Properties will be focused on sourcing land partners and property sales.
“Mombasa is unveiling the hidden gems of the sea. Through partnerships and collaborations, together we will go far and fast. We are behind our darker days and the better days are ahead of us. As an investor or potential homeowner, it’s the right time to strategically position yourself. The industry is ripe and ready,” MySpace Properties Chief Executive Officer, Mwenda Thuranira said.
The partnership targets delivery of Sh5 billion in real estate projects.
Real estate investments deliver above average returns for investors seeking real estate backed investments.
Mombasa county officials, landowners and players in the real estate sector in the region, attended the investment forum.