Cytonn Investment Company's CEO Edwin Dande at a past event [Photo/The Star]
Nairobi’s Kilimani area will soon be home to a triplex complex set to be built by Investment group Cytonn.
The company has estimated that they construction will cost around Sh20 billion with Sh1.5 billion to used for the four-acre piece of land.
It will offer commercial space for rental, 180 hotel rooms, 160 serviced apartments, three-bedroom duplex apartments and penthouse suites, three basement parking floors with a capacity for 1,500 vehicles.
“For mixed use development, Cytonn Towers seeks to meet the luxury housing demand, premier business office space, and hotel and conferencing facilities while at the same time offering target returns of 25 per cent per annum to our investors,” said the company’s managing partner and chief executive officer Edwin Dande.
“It is primarily targeted at the upper middle class, Non-Governmental Organizations and embassies looking for prime and iconic space.”
The move comes in the wake of a ground breaking Sh20 billion Hilton Nairobi five-star hotel which was announced three months ago.