NAIROBI, Kenya, Apr 11 – A lifestyle development project by Cyntonn Real Estate expected to have 408 modern apartments has officially broken ground.
Dubbed ‘The Alma’, the Sh3 billion worth project consists of 1, 2 and 3 bedroom apartment options set across a 4.18-acre parcel of land in Ruaka, Kiambu County.
According to Cyntonn, the project also includes commercial facility and a lifestyle clubhouse for residents.
“It also includes high levels of security, a borehole, an elevated playground for children and ample parking facility.”
The development targets a capital appreciation of 23 percent per annum during development period, which is estimated to be two and a half years.
According to Cytonn’s Chief Investment Officer Elizabeth Nkukuu, the project targets the middle to lower-middle income families with a comprehensive lifestyle and a secure community.
“In addition to safe neighborhoods, through real estate, we aim to create more jobs, grow the economy and raise the standards of living in the country. At its peak, the development will have created over 1,000 jobs mainly for Kiambu County.,” she added.
The project will benefit from its proximity to the northern bypass, Two Rivers mall, Village Market and the Rosslyn mall development among others.
“Given the current demographic trends, Kiambu County is the fastest urbanising region in Kenya. My government is alive to the fact that 63% of the county population lives in urban centres.The manifestation of Kiambu urbanisation is in its 10 major of towns, 5 of which have populations ranging from 300,000 to 100,000 people,” said Kiambu Governor William Kabogo during the ground breaking ceremony.
Cytonn Real Estate has partnered with China National Aero Technology International Engineering Corporation on the development project