The Alma, a comprehensive lifestyle development of Cytonn in Ruaka is going according to the plan. The development has delivered returns of 55.o percent p.a for off-plan buyers, showing that real estate is one of the best returning asset classes in Kenya.
This is a comprehensive lifestyle development encompassing 453 modern apartments – 36 one-bedroom units, 226 two-bedroom units, 191 three-bedroom units, a lifestyle clubhouse, a commercial facility, high levels of security, a borehole, an elevated playground for children and ample parking.
“The Alma is over 50 percent sold and the unit prices are expected to hike by 15 percent by January 2018,” said Mr. James Maina, the Development Manager and board member at Cytonn during the development’s open day in November.
“We are working to deliver quality and aspirational homes that encourage great community living,” he added.
It is expected to be delivered by the end of the first quarter of 2019. “We are housing the growing middle class. 50 percent sold even before delivery,” said Edwin Dande, the Managing Partner and Chief Executive Officer at Cytonn Investments Management Ltd.
“People are seeing the quality, and the potential for capital appreciation and rental yield,” he added.
It aims to uphold its tagline ‘Simply exceptional’ where upon completion, Cytonn envisions “Convenience and comfort. As a resident, you will be able to access everything you may need in close proximity.”
The plan is a play on Shakopee’s “live, work, play” theme providing a comprehensive, convenience and aspirational signature lifestyle that The Alma seeks to create.
“It is satisfying if you are able to deliver to the client and being able to deliver well. Then, they will stick with you, and the firm will do well,” says Dande.
The Project Architect, Mr. Wachira Macharia of Buni Designs, on the other hand, promised clients exceptional units upon the end of the project.
“Once the project is done, we guarantee you that the quality and the standard of the houses will be above what we have delivered in the show houses’’, said Mr. Wachira Macharia.