By Patrick Githinji
Listed investment company, Centum Investment, has kicked off its regional mega real estate development after picking the consultant team for the project.
Speaking at a sales and marketing workshop in Nairobi on Thursday, Centum CEO James Mworia revealed that they had appointed GAPP Architects and Urban Designers from South Africa to be project consultants, while Acorn Management Limited will now become the project manager.
"Between them, the two GAPP directors leading the design teams have a combined half a century of experience in architecture and urban design including the urban design of the world renowned V&A Waterfront in Cape Town," said Mworia.
In 2009, Centum made a decision to increase its investment activity in real estate.
Centum Investment is putting up a 100-acre real estate project in Nairobi and another 300-acre project in Entebbe, Uganda.
In both parcels of land, Centum intends to develop world-class, master-planned, integrated and controlled developments that will have a blend of residential, commercial, retail, leisure, and hospitality facilities.
"Phase one of the development in Nairobi will cover about 20 acres. Centum will be the lead equity investor in Phase one of the project, with a clear intention to sell or lease a finished product," he said.
He also hinted that Centum would be partnering with financial institutions at both construction level, and mortgage levels, in order to facilitate the smooth disposal of the property.
"Although we are at concept stage, Centum and the development team is committed to have completed the master plan by October, and will be ready to break ground in phase one by June 2012," added Mworia.
