NAIROBI, Kenya, Sep 7- Centum Real Estate, the largest mixed-use developer in the region, is solidifying its mark in Nairobi’s affordable real estate space by launching an affordable housing development dubbed ‘365 Pavilion Place Apartments’.
This is a large-scale development of 975 units, with phase 1 of the estate having 365 units.
Launched in April this year, 365 Pavilion Place Apartments are strategically located between Safari Park Hotel and USIU, a location that has proven attractive to both investors and owner-occupiers.
“The estate is in a private neighborhood that is 18 minutes from Nairobi’s CBD, a fundamental element for investors. For investors who acquire the units, the premium location and the high quality associated with our developments will ensure sustained occupancy rates all year round”, noted Samuel Kariuki, the Managing Director of Centum Real Estate.
Mr Kariuki said 34 percent of the units are already pre-sold.
The development will offer two types of 1, 2- and 3-bedroom apartments, priced from Sh 4.8M with flexible payment plans. 365 Pavilion Place Apartment’s value proposition will ensure that investors have a rich selection of affordably priced master-ensuite units to choose from. During the 30-month construction period, buyers will be able to stagger payments as they monitor the construction progress while taking advantage of the unit value appreciation.
‘Despite the affordability, the development is not compromising on quality – the 365 Pavilion Place will be fitted with rooftop breakout areas, a community center, play areas, an equipped gym, jogging tracks, and multiple green spaces’, added Mr Kariuki.
Centum Real Estate has a rich variety of large-scale mixed-use developments in Nairobi, Kilifi, and Entebbe in Uganda and has recently announced its plan to roll out affordable developments in other Nairobi nodes.