Nairobi Securities Exchange Chief Executive Geoffery Oundo (left) and Centum Real Estate Chairman James Ruitha during the handover of the Riverbank apartments in Nairobi yesterday. [Wainaina Wambu, Standard] Centum Real Estate has handed over the keys to 60 buyers of its luxury apartments located at the Two Rivers mixed-use development.
This is the first Centum Real Estate project financed by a Sh3 billion equity-linked bond that was issued and listed on the Nairobi Securities Exchange (NSE) in 2020.
The development, named Riverbank, was completed in 14 months and is located in Nairobi’s affluent Blue Diplomatic Zone residential district.
Some families have already occupied their units with 70 per cent of the total 84 units sold out and the remaining units booked by buyers.
The project, the first residential one in the Two Rivers ecosystem, consists of one-, two- and three-bedroom apartments with prices ranging between Sh15 million and Sh30 million. Riverbank is the new addition to over 600 residential houses that Centum has recently handed over to buyers in Kenya and Uganda.
“Centum Real Estate has continued to grow its market-trusted brand with a proven delivery track record that continues to provide investors a platform to own houses affordably through flexible payment terms that are intended to increase homeownership in the region,” said Centum Real Estate Managing Director Samuel Kariuki.
The firm has cut a niche as a developer of mixed-use urban nodes with large developments in Nairobi, Kilifi and Entebbe in Uganda.
NSE Chief Executive Geoffrey Odundo said the timely completion of the project was a testament to the bourse’s powerful facilitative role for real estate developers to access capital.
“This, in turn, has created thousands of direct and indirect employment opportunities through the entire real estate value chain and has served as a catalyst for economic empowerment,” he said while officiating the official launch of Riverbank apartments.
Two Rivers development has had a significant impact on the local economy since its inception, attracting over Sh20 billion in foreign direct investments and creating over 5,000 jobs during the construction of the mall, offices, a 3-star hotel and residential units.
