Centum hands over Riverbank apartment financed by Ksh.3 billion equity bond
Centum Real Estate has completed the construction of the development project named Riverbank located in Nairobi’s affluent Blue Diplomatic Zone residential district.
The project, which is the first Centum Real Estate project, was completed in 14 months and was financed by a Ksh.3 billion equity-linked bond that was issued and listed on the Nairobi Securities Exchange (NSE) in 2020.
The Two Rivers ecosystem’s first residential project is a one, two and three-bedroomed apartment which costs between Ksh.15 million and Ksh.30 million.
70 percent of the total 84 units have already been sold out while the remaining 30 percent of the units booked by buyers and some families have already moved in.
NSE’s Chief Executive Geoffery Oundo and Centum and James Ruitha the chairman of Centum Real Estate participated in the officiating of the apartments to 60 buyers on February 23 this year.
These are the newest residential houses to be handed over to Kenya and Uganda buyers among the other 600.
“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 home ownership in the region,” said Centum Real Estate Managing Director Samuel Kariuki.
Odundo said the project has created several direct and indirect employment opportunities throughout the project period.
“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.
The development has attracted over Ksh.20 billion in foreign direct investments and created over 5,000 jobs, during the construction of the mall, offices, residential houses and a 3-star hotel.