NAIROBI, Kenya, Sept 28 – Cytonn Real Estate has launched a Sh20 billion mixed-use development project named ‘Cytonn Towers’.
The proposed development, which will sit on a 4-acre parcel in Nairobi’s Kilimani area, is expected to host a sky bridge restaurant that will be Kenya’s highest suspended restaurant, a ballroom, a double horizon fitness club and an observatory deck.
The 150 meters high, 35-floor triplex towers will consist of offices, hotel & serviced apartments and residential Apartments.
This includes three-bedroom duplex apartments and penthouse suites, 180 hotel rooms, 160 serviced apartments and 30 typical office floors.
Construction is expected to commence in Q4 of 2018 and it will be built in phases with the structure expected to be complete by December of 2022.
Cytonn Real Estate says it primarily targets the upper middle class, NGOs and embassies personnel looking for prime and iconic space.
Cytonn Investments Managing Partner and Chief Executive Office, Edwin H. Dande says the development seeks to meet the luxury housing demand, premier business office space and hotel & conferencing facilities, “while at the same time offering target returns of 25% per annum to our investors.”