Cytonn Investments Management has opened an office to serve Mount Kenya region and tap into the area’s vast real estate investment opportunities.
The Nyeri town office will seek to serve the growing demand in the region and bring the firm’s total offices to six.
Senior Manager, Regional Markets, Johnson Denge said Cytonn Real Estate, the development affiliate of the company, was looking to venture into the region.
“We are about to embark on deploying over Sh6 billion towards mixed-use development and will also venture into hospitality focusing on Mt Kenya region. We shall start with two projects, a mixed-use development and a hotel, both of which we have already identified the projects,” he said.
Speaking during the launch, Cytonn Managing Partner and Chief Executive Edwin Dande said they seek to bring development expertise closer to the target market and also develop relationships.
“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.
The firm plans to launch into Coast, Western and North Rift regions before the end of the year.
“In sub-Saharan Africa we are looking into Uganda, Tanzania and Rwanda in the East Africa, and Ghana and Nigeria in West Africa. We already have strong partners in all markets and an active deal on the pipeline,” said Mr Dande.
Nyeri Governor Mutahi Kahiga, accompanied by other senior county government officials, officiated the opening.