Cytonn Real Estate, the development affiliate of Cytonn Investments yesterday handed over phase one of its Ruaka based residential development dubbed the Alma, comprising of one, two and three bedroomed units to buyers in a ceremony presided over by African Union High Representative for Infrastructure Development in Africa Raila Odinga and Housing and Urban Development Permanent Secretary (PS) Charles Hinga.
Phase one of the project is 100 per cent sold out with buyers having parted with Ksh.6.3 million Ksh. 9.4 million and Ksh. 12 million to secure a one, two and three bedroomed unit respectively.
Speaking during the handing over ceremony, Housing PS Hinga underscored the importance of setting up modern and affordable housing projects in line with President Uhuru Kenyatta’s Affordable Housing pillar of the Big Four Agenda.
“As you all know, housing is a big priority for the government, and we continue to work with companies like Cytonn to achieve that goal. Our job as the government is to create a conducive environment for developers. The Government and all subsequent players must dedicate adequate resources to building more and more homes. We can fulfil this obligation even faster if the economy grows,” PS Hinga said.
Honorable Raila Odinga on the other hand lauded Cytonn for successfully launching the affordable modern complex that boasts of amenities such as swimming pools, elevated playgrounds, gym and a retail centre.
“I am proud to be part of this historic moment. It gives me hope when I see people working hard to produce world-class products. It is the only way Kenya will continue to grow. There is real gain in having citizens own homes. The completion of Alma Phase one is an example of what we can achieve when the government and private developers work together,” he said.
On his part, Cytonn’s CEO Edwin Dande revealed that a lot of research went into the construction of the complex to guarantee value for money for buyers especially since Kenyans in the market for residential properties have taken a liking to homes that are strategically located and have superior amenities.
“A lot of research went into our decision to build The Alma. Ruaka has one of the highest residential occupancies in the country. As the town grows, there is increased demand for housing with superior amenities, great finishes and strategic location. You get all of this at The Alma. The fact that all the Phase one homes have sold is a testament to this,” The Cytonn Investments said during the handing over ceremony.
The Alma is Cytonn’s most recent project to be handed over to buyer’s following last year’s unveiling of the Amara Ridge residential development in Karen.