Cytonn Investments Partner and CEO Edwin Dande
Cytonn Real Estate, the development arm of Cytonn Investments, has entered into a deal with Finnish architectural firm, AUD Architects to design its latest development.
The Sh15 billion development will comprise over 1,400 residential units of townhouses, maisonettes and low-rise apartments, a commercial centre and a hotel. It will sit on 100 acres in Ruiru, Kiambu County.
The consultant that will offer architectural services for the development, that is design and supervision for the master plan.
AUD shall work with Aspera Design from Kenya to design the project.
“We invited companies from all over the world, including Spain, Dubai, South Africa, Finland and locally. After running a comprehensive procurement process, AUD from Finland and Aspera from Kenya had the most innovative, functional and practical designs, thus clinching the contract,” said Cytonn CEO, Edwin Dande.
Speaking during the event held at Cytonn’s Chancery Office, Finland ambassador to Kenya Tarja Fernandez said that Africa is a good investment destination, with Nairobi being one of the fastest growing cities.
“Africa’s growth levels are high and partnerships is the way to do business. There is a great interest by Finland in Kenya and the partnership between Cytonn and Taaleri of Finland solidifies the relationship between both nations. We hope to see more partnerships in future and strengthen our bond,” said Fernandez.
Dande said Cytonn began its partnership with Finland in 2014 through Taaleri, a private equity investment firm that saw good returns from the projects they had invested in, such as The Alma in Ruaka where they exited early and made a 25 per cent return on the investment.
“We are extending our partnership beyond investment level to partnering with consultants such as AUD Architects to ensure we deliver the best designs to the market,” said Dande.
Dande said the company is keen on forging partnerships both locally and internationally through joint venture agreements with landowners, fundraising and other engagements.