, NAIROBI, Kenya, Sep 28 – Cytonn Real Estate, a leading real estate developer in the region, with Sh50 billion in real estate projects, Monday held the groundbreaking for Amara Ridge, an exclusive gated community in Karen.
The Ambassador of the Republic of Finland, Tarja Fernandez was the chief guest at the groundbreaking.
Amara Ridge is a luxurious development offering comprehensive lifestyle amenities with a state of the art clubhouse and security features.
Amara Ridge features two signature architectural styles – a classical and a contemporary design to cater for diverse tastes.
The development is situated opposite Bomas of Kenya and boasts close proximity to high-end retail stores, shopping malls, several fine dining options, the largest collection of international schools in Nairobi and easy access to outdoor entertainment such as Nairobi National Park, the Giraffe Manor and Sheldrick’s Elephant Orphanage.
Recent trends show that security provisions, available amenities and proximity to conveniences are key factors influencing property acquisition; hence the increasing preference for gated communities.
“Our deal pipeline serves the various segments of the market ranging from the high end, such as the Amara Ridge, to the middle to lower-middle income, which constitutes 85% of our projects,” said Cytonn’s Chief Investment Officer and Head of Real Estate, Elizabeth Nkukuu, at the groundbreaking ceremony.
“In addition to putting up signature developments such as Amara Ridge and creating lifestyles for families, real estate is also our platform for creating jobs, growing the economy and raising the standards of living in the country. When complete, our Sh50 billion realestate pipeline will have housed thousands of families and created thousands of jobs,” said Elizabeth.
Speaking during the launch Her Excellency Fernandez, said: “Finland and Kenya have enjoyed a good relationship for many years. I am happy that a Finnish investor has found its way to Kenya to work on projects like this.”
Amara Ridge development is financed by Cytonn Investments and Finland-based NASDAQ OMX listed Taaleritehdas, who manage approx. USD 5 billion in assets under management.
The other projects in the Cytonn Real Estate deal pipeline that will breaking ground within the next six months include Situ Village, also in Karen, and The Alma apartments in Ruaka.