Cytonn Real Estate Hands over the Amara Ridge Contemporary Villas

Cytonn Real Estate, a leading real estate developer in the region Saturday handed over  Amara Ridge, the contemporary Architecture-designed villas to their owners.

The design gives more of a modern feel, disregarding historical preferences for pillars and classical moldings and going for a simpler yet sophisticated appearance.

“This was our first real estate development and we have delivered to promise on this Amara Ridge project,” said Patricia Wanjama, Cytonn’s Head of Legal Department and Company Secretary.

“Today is a very proud moment for us at Cytonn,” she added.

James Maina, Cytonn Board Representative on having delivered to promise, “We finally have been able to hand over our first units. We have given five keys to our first owners. The clients are comfortable. The houses have been able to get real-time investments and returns to those who invested. We are happy and the clients are happy too,” he said.

The  KSh1 billion development project Amara Ridge is an outstanding and exclusive private gated community in Karen offers a distinctly luxurious real estate option.

Its location is destined to be one of Nairobi’s most prestigious neighborhoods, offering Amara Ridge homeowners unmatched leasing or resale value.

The development which sits on five acres comprises of 10 units – featuring two signature architectural styles – a classical and a contemporary design to cater for diverse tastes.

The Classical houses are expected to be handed over in January 2018.

According to the real estate firm, the Amara Ridge was 100 percent sold, 5 months before its targeted completion date.

“We are looking at how people can live here and it is a nice place. Today is a day to be happy,” said Elizabeth Nkukuu, Cytonn’s Head of CRE. “The feeling is amazing especially when you see clients are happy to see what you have done.”

Nkukuu noted that the average price of each unit was ‘about Ksh 100 Million and the total house project cost is about Ksh a billion’.

“Through our Cytonn Facilities Management, we shall be taking over the management even after construction. We want to maintain the look and feel of the place. We would like to maintain the place for the next three years,” she said.

“The initial buyers bought close to  Ksh 90 Million we are currently selling at about Ksh 100 Million and the last unit was sold at Ksh 112 million. That is the kind of return the homeowner made,” she said.

“For the people who invested, this was in partnership with Taaleri, they made a return well above  25 percent,” noted Nkukuu.

Amara Ridge development was financed by Cytonn Investments and Finland-based NASDAQ OMX listed Taaleritehdas, who manage approx. USD 5 billion in assets under management.

To visit either the Amara Ridge or The Alma show houses, please register here