Centum Group CEO James Mworia speaking during the Cascadia Open Day forum at City Lodge, Two Rivers/Centum Re Centum Real Estate Limited’s Cascadia Apartments is sold 60 per cent as demand for affordable housing in the country, mainly urban regions, remains high.
Centum Real Estate Limited,also known as ‘Centum Re’ is a fully owned subsidiary of the NSE-listed Centum Investment Company Plc.
It has partnered with real estate firm–Heri Homes in the off plan 450 housing units project (apartments ) sitting on 4.5 acres within the exclusive Rosslyn suburb.
According to Centum Group CEO James Mworia, Centum Re is complementing the government agenda of affordable housing by encouraging Kenyans to save and invest on housing during their productive years.
The two firms recently held a Cascadia Open Day forum at City Lodge, Two Rivers, touring the Cascadia project.
Investors are paying 10 per cent of the amount on signing the sale agreement, 30 per cent over the construction period and 50 per cent on or before the project completion, that should be by end of this year or by mid 2022.
“Cascadia is also lucrative for those who will prefer to have rental houses. This neighborhood has been hungering for good housing, and at two rivers you are assured of access to power and clean water all year around as we have invested heavily on the same,” Mworia said.
The Cascadia luxurious residential houses includes one, two, and three bed roomed apartments, duplexes and town houses to a total of 450 units, in 17 floors.
A one bedroom apartment goes for Sh8.5 million, Sh12.3 million for two bedrooms and Sh14.4 million for the three bedrooms.
Cascadia Apartments offers attractive returns to home owners, granting them construction period capital gains of at least 15 per cent and rental yields of at least six per cent.
Heri Homes CEO Kimotho Kimani said they are optimistic the remaining 40 per cent housing units will be taken up as the economy is picking up, after a challenging last year that recorded slow growth economically brought out by the Covid-19 pandemic.“For 11 years now, Heri Homes has made many proud owners of homes and investments.It has provided an avenue for growth for various groups of people and families through direct and indirect employment opportunities,” Kimani said.In 2017, Heri Homes opened offices in UK and in 2018, opened more offices in the USA to capture diaspora markets, helping Kenyans living abroad invest back at home.Centum […]