KILIFI COUNTY: Sultan Palace Development Ltd, a real estate developer, has launched the first phase of the over Sh5 billion exclusive beach resort project in Kikambala, Kilifi County.
Dubbed the Sultan Palace Development Beach Retreat, this eco-friendly project covers 60 per cent of the green area with the buildings taking up the remaining 40 per cent. It targets up market local buyers.
Sultan Palace Development Ltd General Manager Liu Tiancai said the project is targeting high-end property investors following increased interest by Kenyans in holiday homes.
"There was a gap in this sector and we felt the need to venture into this market as Kenya has proven to be the world tourism destination with beach retreats as one of the most sought after destinations worldwide," said Tiancai.
Pegged on the economic potential of Kikambala, Sultan Palace Beach Retreat is one of the biggest upcoming mega housing projects in the area with the aim of boosting the country's real estate sector while reaffirming the tourism potential at the coastal town.
The new centre will include 'The Souk', a residents' club that comprises a beach bar, a gourmet restaurant, an elegant café / brasserie as well as a gym and a luxury health spa. In addition, residents will have access to a water park and kids club to entertain the whole family; the second phase will see the developer introduce five-star hotels. "We have over 20 years' experience in real estate. We have done this in countries around the world and feel Kenyans deserve the best that we have to offer", Tiancai said.
"This is a very tourism oriented development and Kenya has definitely proven worthy of every investor's list, in terms of its potential and growth capacity. We wanted to create a global destination, something Kenyan, authentic yet modern, that you would find nowhere else in the world". The firm's Sales and Marketing Executive Fena Owira said security has been given priority in the project.
"We will have censors around the boundary wall and access control in all the units and we are examining our buyers to ensure it is the right group of people investing in the resort."
The developer says over 90 per cent of the project's workforce is Kenyan. The completion date is set for December 2016.
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