Cytonn Investments Management (Plc) today opened an office to serve Mt. Kenya region, as it seeks to tap into the vast real estate investment opportunities the region offers.
The office located in Nyeri town on the third floor of Sohan plaza, will seek to serve the growing demand in the Mt. Kenya region as part of the company’s regional expansion plan.
It brings to six the total number of Cytonn Investments Management Plc offices.
The senior manager regional markets, Johnson Denge noted that Cytonn Real Estate, the development affiliate of the company, was looking to venture into the region.
“We are about to embark on deploying over Ksh 6 billion towards mixed use development and will also venture into hospitality focusing on Mt. Kenya region. We shall start with two projects, a mixed use development and a hotel, both of which we have already identified the projects” Denge said.
Speaking during the launch, Cytonn’s managing partner and C.E.O Edwin Dande said: “This office seeks to tap into the vast investment opportunities that Mt Kenya region offers by bringing development expertise closer to the target market, and also developing relationships in the market.”
He noted that the entry into Mt. Kenya was part of Cytonn’s commitment to entrench further the company’s offering of alternative investments solutions into the region.
“We spent the first phase of our growth focusing on Nairobi Metropolitan Area, where we now have over Ksh 82 billion of real estate projects. Our clients, especially the institutional clients are now demanding diversification both locally and into other African markets,” he said.
“In the local scene, we are focused on tapping into the promising markets in the Mt. Kenya Region which we are opening today, followed by Coastal Region, Western Region and North Rift, all before the end of the year,” Dande added.
He said in Sub Saharan Africa , the firm is looking into Uganda, Tanzania and Rwanda in the East Africa and Ghana and Nigeria in West Africa.
“We all already have strong partners in all the markets and an active deal pipeline” he noted.
The chief guest, Nyeri’s governor Mutahi Kahiga who was accompanied by other senior officials from Nyeri county government officiated the opening.
Speaking at the launch he said :“We are happy and encouraged to have a leading real estate developer come into this growing region. A growing town like Nyeri needs better buildings for offices, trading and hospitality. Nyeri County and the County government is willing to work with the team from Cytonn to transform our real estate landscape.”
Cytonn Investments Management Plc is keen on expanding its services in Kenya and the African continent, and it continues to put in place all the necessary steps geared towards fulfilling the alternative investments inclusion agenda, as well as redefining real estate investments in the region.
Currently, Cytonn has five offices including Liaison House on Statehouse road, The Chancery on Valley Road, Fedha in Westlands, Adlife in Kilimani, and the Diaspora Office in DC Metro in the United States of America.