Nairobi, Kenya, Sept 30-Centum Real Estate has handed over its sold-out apartments to buyers of the second phase of the Loft Residences, located within the Two Rivers commercial and residential complex in Nairobi.
The company says the handover marks another milestone for Centum Re, which has completed thousands of homes in Nairobi, Kilifi, and Entebbe, Uganda.
According to Centum Re Managing Director Kenneth Mbae, phase 2 of the Loft Residences was fully sold out well ahead of completion, underscoring the high demand for luxury housing in Nairobi.
“We are proud to have fulfilled our sales pitch and met the aspirations of our investors,” said Mbae.
“The growing waiting list of prospective tenants at Two Rivers opens up multiple wealth creation opportunities for investors.”
The apartments, priced between Sh36 million and Sh52 million, have already seen a marked appreciation in value.
Centum says the development has attracted buyers from across six continents, with approximately 90 percent of purchasers being investors.
These include businesspeople, Kenyans in the diaspora, and expatriates. The units have demonstrated strong investment potential, with over 10 percent rental yield and 25 percent capital appreciation.
According to the company,79 percent of buyers paid in cash through milestone-based plans, while 21 percent secured mortgages.
Interestingly, four out of every five units have been listed for rent, attracting diplomatic missions and multinational corporations.
The development’s proximity to Gigiri’s diplomatic blue zone and enhanced connectivity to key locations, including the airport, has bolstered its appeal among corporate and diplomatic tenants.
