Equity investment company, Cytonn, has today held the groundbreaking for one of its developments, The Ridge, valued at Kshs 12 billion that sits on a close to 10.0-acre piece of land in Ridgeways, Nairobi County.
The Ridge is a comprehensive mixed use development that will have over 700 units comprising of 1, 2 and 3 bedroom apartments, 3 bedrooms with a domestic servant quarter and penthouses that occupy the topmost floors.
The Ridge has plenty of green spaces, outdoor sitting spaces and recreational facilities including swimming pools, children playgrounds, landscaped courtyards and a gym and offers convenience with over 2,000 square meters of retail and office space consisting of a mini-mart, convenience stores, salon and laundry among others. The retail center also houses 1 and 2 bedroom serviced apartments for comfortable long and short stays visitors.
The Ridge is a secure gated community with 24-hour CCTV surveillance and ample parking spaces for the residents.
The development is located 300m from the junction of Kiambu Rd and the Northern Bypass, 5 minutes’ drive from the Two Rivers Mall, less than 5 minutes’ to Windsor Golf Club and 10 minutes’ from UNEP headquarters in Gigiri.
The Ridge is part of the larger Cytonn Real Estates strategy of responding to the growing demand for residential units to house the ever growing middle-class seeking high quality and secure neighbourhoods. Some of the other projects by Cytonn Real Estate include (i) Amara Ridge a 10 units developments in Karen (ii) Alma in Ruaka (iii) Taraji Height in Karen (iv) situ village in Karen.
“Real Estate continues to offer the very best returns for both the investors and end users. At Cytonn, we seek to focus in provision of housing across the entire spectrum from the high end to the low middle income. Our deal pipeline serves the various segments of the market ranging from the high end, such as the Amara Ridge whose construction is nearing completion in Karen, to the middle to lower-middle income like The Ridge, which will offer a comprehensive lifestyle and a secure community to families,” said Cytonn’s Chief Investment Officer Elizabeth Nkukuu.
“In addition to creating secure gated communities, these developments are also creating jobs, contributing to the growth of the economy and raising the standards of living in the country” added Elizabeth Nkukuu.
Speaking at the event Nairobi County Governor H.E Dr, Evans Kidero said, “I am glad to mention that Cytonn’s decision to put up this development in Ridgeways proves that the rapid urbanization offers an opportunity for investors to offer housing products in the county. The Ridge will change the landscape of Ridgeways and the larger Nairobi County when it comes to residential housing.”
“Kenya continues to grapple with a high housing deficit of over 200,000 housing units yearly due to rapid population growth and urbanization. Nairobi county is the most affected by this and we are glad that Cytonn decided to put up this development in Nairobi. We shall continue to work closely with developers such as Cytonn to help address the housing deficit and improve the quality of living for the Nairobi residents.