Cytonn, Kenya's private investment management company, has floated a business model that will see it jointly run development projects with members of the public.
In a bid to increase its footprint across the country and in the region Cytonn, through its development arm Cytonn Real Estate, is now seeking to partner with local entrepreneurs to jointly address the housing shortage in Kenya, while creating employment opportunities for the youth.
Known as the Cytonn Real Estate Franchise, the partnership model allows any suitable member of the public (franchisee) to be licensed to operate a real estate business independently or partially under the Cytonn brand.
Cytonn's Chief Investment Officer Elizabeth Nkukuu said Wednesday at the launch of the model that the franchisees have the added benefit of accessing Cytonn Real Estate’s expertise in identifying, evaluating, structuring and financing world-class real estate projects.
“Through the Cytonn brand, the franchisee will be able to offer a range of services that includes real estate deal origination and site acquisition, agency services and facilities and property management,” she said.
Cytonn Real Estate currently has 1,200 acres in development in the Nairobi metropolis and projects under development estimated at Sh 57 billion in Karen, Ruaka, Athi River, and Mombasa.
“As our fundamental objectives are to address the housing shortage, create employment opportunities and play our part in the growth of our economy, we are confident that with this unique franchising opportunity, the Cytonn brand will be a catalyst for growth in the real estate industry,” added Ms Nkukuu.