Centum Hands Over 160 Units Of Riverbank Apartments

Centum Real Estate completed and handed over Riverbank apartments to clients. The project broke ground in August 2019 and has taken approximately 36 months to complete.

This marks the handover of 160 units in a project that has a deal pipeline of more than 1,500 residential units planned within the 102-Acre master-planned Two Rivers Development.

Some of the key residential developments at Two-Rivers include Cascadia, The Loft, and, Mizizi Court. The 102 acres’ master-planned community also entails the 65,000 SQM Two Rivers Mall, a City hotel known as City Lodge, and, an office tower.

A detailed summary of the developments is highlighted below;

The investment focus on Limuru road where the project is located is supported by;

• Relatively good infrastructure, enhancing accessibility to commercial nodes such as Gigiri, Westlands, and the CBD, thus boosting demand from Nairobi’s working-class, 

• Demand from expatriates such as the United Nations serving in international organizations located along Limuru Road, 

• Presence of amenities such as Two Rivers Mall, Village Market, Rosslyn Riviera, Ridgeways Mall, 

• Close proximity to learning institutions such as Potterhouse Runda, Sabis International, and Braeburn Ridgeways, and, 

• Relatively high levels of security due to proximity to the UN Blue Zone.

Additionally, investment in mixed-use developments such as Two Rivers which also has Riverbank as one of its residential developments continues to create operational synergies across various Real Estate themes hence enabling investors to maximize returns, either through rental income or capital appreciation.

The table below shows the performance of single-use and mixed-use development themes between 2020 and 2021;

MUDs are also more convenient and preferred given that the development mix creates an upscale living environment with easy access to workplaces, retail stores, and/or, residential areas.

In terms of performance, according to the Cytonn Mixed-Use Development Report-2021, MUDs recorded an average rental yield of 7.2 percent in 2021, 0.7 percentage points higher than the respective single-use themes which recorded an average rental yield of 6.5 percent in a similar period, signaling better returns as opposed to the singe use themes.

Read More: Centum Plans To List On The NSE, Secures Ksh 17 Billion From GEM