Cytonn to unveil its real estate development in the region

Cytonn Investments Management Plc will invest Sh6 billion in real estate development in Nyeri County.

Cytonn senior manager for regional markets, Johnson Denge, said that Cytonn Real Estate, the development affiliate of the company, would soon unveil its real estate development in the region.

"We will invest over Sh6 billion in a mixed use development and venture into hospitality development in the Mt Kenya region...," Denge said.

On Friday last week, the firm opened an office in Nyeri Town as part of its plan to tap into the vast real estate investment opportunities in the region.

Speaking during the launch, Cytonn’s managing partner and CEO Edwin Dande, said: "This office seeks to tap into the vast investment opportunities that Mt Kenya region offers by bringing development expertise closer to the target market and also building business relationships."

He said the entry into Mt Kenya was part of Cytonn’s commitment to entrench further the company’s offering of alternative investments solutions in the region.

"We spent the first phase of our growth focusing on Nairobi Metropolitan Area where we now have over Sh82 billion of real estate projects. Our clients, especially the institutional clients, are now demanding diversification both locally and into other African markets," he said.

Nyeri Governor Mutahi Kahiga, who was the chief guest, said: "We are happy and encouraged to have a leading real estate developer come to this growing region. A growing town like Nyeri needs better buildings for offices, trading and hospitality."

Currently, Cytonn Investments Management has five offices, including Liaison House on State House Road, The Chancery on Valley Road, Fedha in Westlands, Adlife in Kilimani - all in Nairobi - and the Diaspora Office in DC Metro in the United States.