Cytonn investment analyst Caleb Mugendi. photo | salaton njau Asset manager Cytonn Investments is on Monday set to start building its RiverRun estate — a Sh15 billion mixed use development in Kiambu County.
Cytonn is funding the project through a mix of pre-payments from buyers and debt instruments.
RiverRun, which is set to be built in two phases in Ruiru comprises a boat club, a boutique hotel , a water theme park, a school, 600 apartments and 1, 258 residential units on 100-acre piece of land.
Residents will also enjoy other facilities such as a retail factory, a club house with a gym, a swimming pool and a spa, a landscaped garden and playing fields.
“We are set to break ground on RiverRun estate today. The project sits on 100-acre piece of land and we intend to implement it in two phases,” said Cytonn’s project management analyst Joyce Mwai in an interview Friday.
The development will be located seven kilometres from Thika Road and 1.5 kilometres off Kiambu-Kamiti Road and is expected to be completed in four years.
It will accommodate lower middle income to high end properties with prices for different class houses expected to be between Sh12 million and Sh50 million.
Finish architectural firm AUD Architects and Aspera Designns from Kenya will work on the project.
The RiverRun development is among several ongoing and planned real estate projects by Cytonn.