Cytonn Investments sees an opportunity in the real estate sector and hospitality
NYERI, Kenya Jan 12 – Cytonn investment will invest Sh6 billion in Nyeri County to develop hospitality industry and commercial offices.
“We are about to embark on deploying over Sh6 billion towards mixed-use development and will also venture into hospitality focusing on Mt. Kenya region. We shall start with two projects, a mixed-use development, and a hotel, both of which we have already identified the projects,” said Cytton Investment Senior Manager, Regional Markets Johnson Denge.
Denge says that Nyeri is second to Kiambu in terms of per capita noting there are a lot of opportunities in areas of real estate development.
The new office will seek to serve the growing demand in the Mt. Kenya region as part it’s regional expansion plan and brings to six the total number of Cytonn Investments Management Plc offices.
“If you look at Nyeri, it has one of the highest per capita incomes in the country just second to Kiambu so a lot of wealth is intact,” Denge stated
He also said that more opportunities will open up after completion of the LAPSSET project that will connect the coastal region and Isiolo.
“There is a lot of potential here and our financial advisors will be talking to our clients in this region specifically to customize products offered,” he noted
In addition, Nthenya stated that Nyeri has only one institutional developer National Housing Corporation limiting it to real estate development and offering opportunities in agriculture.
Nthenya reported that Cytonn Investment is keen on expanding its services in Kenya and the African Continent and it continues to put in place all the necessary steps geared towards fulfilling the Alternative Investments Inclusion Agenda as well as redefining real estate investments in the region.
