It is no Longer Two Rivers, it is The Alma Redefining Ruaka

Cytonn Investments’ The Alma in Ruaka  is redefining the real estate sector in Kiambu County through its ‘quality prestigious developments’.

“The Alma has become the pull factor. This is a reference point. It is no longer about the Two Rivers, it is The Alma,” says Said Mr. James Maina, Cytonn Board Member and Development Director..

“Last year, land in this area was valued between Ksh 80 million to Ksh 100 million per acre, less than a year it’s now Ksh 120 million,” he adds.

He was speaking at the opening of Cytonn Investments’ office and the Alma progress update  on Friday.

The office opening is part of the expansion of Cytonn Investments, which results in the total number of offices in Nairobi being five, alongside the diaspora office in the D.C. Metro Area in the United States. In the past one-year, Cytonn has opened offices at Chancery (Valley Road), Fedha (Westlands), Karen Site Sales Office and Ruaka Site Sales Office, along with the head office at Liaison House, State House Avenue.

The Alma, targets a capital appreciation of over 22 per cent per annum during development period, which is estimated to be two and a half years. Located on the main Limuru Road, 100 meters from the junction of the northern bypass, and enjoys close proximity to major retail and commercial facilities such as Two Rivers Mall, Village Market, and the Rosslyn Riviera Mall.

“The Alma project is going to be a driver of Kenya’s real estate because of the quality, the way the construction is taking place. I am very pleased that Cytonn has selected Kiambu County  to be their investment destination. Your choice is a good choice,” said Gerald Gakuha Githinji, Deputy governor  Kiambu County.

“Kiambu County  hosts 7 out of 10 of Kenya’s fastest growing towns. Ruaka also has The Two Rivers project. I believe the the quality of development put in place in Kiambu will be a fast of its own and I recommend it to anyone ready to invest.”

When we have this investments, the growth in the county and as the quality of living is going to increase. In Kiambu we work to make it the best county to live in, work in, grown in, grow your business, grow your children and grow your life,” said Gakuha.

.@CytonnInvest #TheAlma now and #TheAlma after completion #SokoNews ~ Simply exceptional pic.twitter.com/jBHrj8jKGS

— Sokodirectory.com (@sokodirectory) January 20, 2017

Chief Investment Officer Elizabeth Nkukuu reiterated that they are committed to quality and delivery to promise in the projects they are developing. “It has been a good journey. The development is in real time, some of the blocks are now at the 7th floor and we expect to really move fast and investors will be able to realise what they invested in. The returns for the people who came in early are well above 50 percent and we expect it will appreciate based on the demand that we are seeing.”

We expect #TheAlma to move fast & investors will be able to realize what they invested in @liznku @CytonnInvest pic.twitter.com/FiiBhoIQKw

— Sokodirectory.com (@sokodirectory) January 20, 2017

The Alma offers a unique opportunity to be part of a comprehensive development in an upcoming neighborhood according to Maina, “The calculated gain is 18 percent for the fixed return investors and for 25 percent for the real estate investors. The gain value for a two bedroom started at Ksh 6.4 million now it is Ksh 8.5 million. The three bedroom was Ksh 7.9 million now stands at Ksh 12.4 million.”

Cytonn’s CEO Edwin Dande says they are focusing on the middle class level  citing that the cumulative deficit is 2 million houses at the rate of 200 to 250 thousand per year.

“The more affordable houses we can put in the market the better for the people in need. Kiambu County being one of the fastest growing county is the best place to put up these houses. Other developments we have include: Newtown, The Ridge, Faraji Heights.”

What we are offering is a comprehensive and aspirational lifestyle to the middle income segment of the population. And we have no issue with people living at the top end of the market to join the middle class. The issue is supply and not demand,” he adds.

Read:

Cytonn Real Estate Breaks Ground On The Alma as Part of The KES 57Bn Real Estate Deal Pipeline

Upon completion, The Alma will encompass 317 units, with 103 1 – bedroom, 138 2 – bedroom and 76 3 – bedroom units. The development will be done in 8 blocks of apartment units, each over 7 storeys. Adequate parking for each unit in the development, with 1 parking per 1-bedroom, 1 for each 2-
bedroom and 2 for each 3-bedroom unit.  The amenities include: a daycare, a clubhouse, a commercial center, a swimming pool and children’s playing areas.