Kenya’s Centum Real Estate launches US$18m housing project in Nairobi

KENYAEast Africa’s leading realestate developer Centum Real Estate Limited, a wholly owned subsidiary of Centum Investments, has broken ground on a new development dubbed Loft Residences at the Two Rivers Development in Kenya’s capital city Nairobi.

The new project comes on the heel of completion and hand over of two residential projects in Vipingo at the Kenyan coastal town of Mombasa and Uganda.

This is their third residential development at the Two Rivers Residential District, joining the Riverbank and Cascadia Apartments which are advanced in construction.

With an expected completion date of October 2022, Loft Residences will be occupation-ready in under two years and will feature exquisite 4-bedroom + DSQ duplexes, with each duplex sitting on 2 levels.

“This is a high-end product with each unit offering 3,014 square feet of urban elegance. At the heart of the architectural design is a large terrace that opens up to large and expansive private gardens – a first in Kenya for condominium styled living,” Samuel Kariuki, the managing director of Centum Real Estate said.

The development also offers a multifunctional clubhouse with a heated infinity pool and several jogging tracks running along the two rivers that straddle the development.

As of October 2020, almost half of the units at Loft Residences had been sold off-plan, a strong indication of the demand for this unique product.

The Two Rivers Residential District sits on 30 acres within the larger Two Rivers Development.

It will comprise of 9 unique residential courts.

Other properties currently under construction within the Two Rivers Residential District are Riverbank Apartments and Cascadia Apartments.

“Having commenced construction in July of 2019, we are at the homestretch of construction for Riverbank Apartments and buyers can expect to move in before the end of Q3 in 2021”

Samuel Kariuki – Managing Director, Centum Real Estate

Riverbank will be the first residential project at Two Rivers to be handed over to buyers by Centum Real Estate and comprises 84 units spread on 14 floors.

Cascadia Apartments, the first to introduce the cascading concept to Kenya’s architecture landscape, is a mix of apartments and duplex villas with all the duplex villas are currently sold out.

Construction of the units begun on 1st August 2019 with completion scheduled for July 2022.

These residences provide good entry prices for investors to the Two Rivers mixed use community with rental yields of up to 8% and reliable capital appreciation.

Residents of the Two Rivers Residential District will live within the Two Rivers Social City, in the heart of Nairobi’s diplomatic blue zone.

The 102-acre development includes almost 30-acres of dedicated green spaces, aqua-parks, jogging tracks, and a sports district that will include basketball courts and an Olympic size swimming pool.

Centum Real Estate’s developments in Nairobi also include the recently unveiled 365 Pavilion Place Apartments in Ruaraka and 265 Elmer One in Kasarani, both falling under Centum Real Estate’s affordable node program.

Centum Real Estate is the region’s leading developer of mixed-use urban nodes in the region, with large mixed-use developments in Nairobi, Kilifi and Entebbe in Uganda.

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