You will soon have access to revolutionary luxury housing and investment opportunities as Centum branches into the real estate sector. In what Market Analyst Kimathi Ikiao has termed as trailblazing investment relations, Centum has embarked on a journey to provide the country with high quality retail development projects.
Centum has decided to put up housing and business units along Limuru road in a bid to expand the company portfolio. The project, known as Two Rivers, is all part of the investment firm’s growth strategy.
The firm aims to develop an environmentally friendly site where 30% of the total area will be maintained as part of their “green” initiative. On the other hand, 830,000 square feet of land will be used for recreational space, entertainment, leisure and lifestyle facilities.
The group plans to integrate first world-class facilities, including modern office parks, residential apartments, hotels and public amenities like schools and clinics. The project will include 200 plus 5 star hotel rooms, 160 plus 3 star hotel rooms, 132 leasable apartments and 84 luxury serviced apartment units.
“90% of our portfolio will be used in non-listed securities such as real estate development and 10% will be used in listed securities for liquidity purposes,” said Centum Investment CEO, James Mworia. Speaking during an official announcement ceremony at the Serena Hotel in Nairobi, he mentioned that Centum plans to expand its portfolio to KES 30 billion by 2014. The company’s portfolio currently stands at about KES 19 billion.
“Two rivers is a supplier of space and Centum is a lead investor,” said Mworia. “Our portfolio focuses on consumer-oriented sectors of the economy,” he added.
The firm stated that real estate and Quantitative Precipitation Estimates (QPE) would drive the direction of Centum’s growth. Mworia believes that their initiative will play a role in making Nairobi a very competitive city.