Cytonn Hands Over The Alma Phase One Project To Home Owners

the Alma
The Alma. [Courtesy]

Real estate company Cytonn on Thursday handed over Phase 1 of The Alma, it’s comprehensive development in Ruaka.

The Alma is the company’s second project to be handed over following the completion of Amara Ridge in Karen in 2017.

It comprises of 477 modern 1, 2 and 3-bedroom apartments and other intriguing amenities; elevated gardens, swimming pools with waterfalls, nursery school, retail center, with impeccable finishing.

The alma, cytonn
The Alma. [Courtesy]
Read: Cytonn Launches Asset Management Arm In Diversification Move

Only 30 minutes from the CBD, The Alma is strategically located near key social amenities such as schools, hospitals, shopping malls and key roads.

The project is also expected to boost growth in Ruaka by encouraging commerce through its retail centers and providing quality housing for the mid to high end market.

Speaking during the handover ceremony presided over by former Prime Minister, Raila Odinga, Cytonn chief executive Edwin Dande said that the project cost them Sh4.5 billion raised through the Cytonn High Yield Fund.

Read Also: Cytonn To Acquire Luxurious Apartment Vendor Wasini Resorts

The fund raised Sh11 billion, he said.

Addressing the home owners, Odinga said that the National Housing Policy in President Uhuru Kenyatta’s Big Four Agenda, will help in creating decent housing for people.

“We have a demand of over 100,000 houses in urban centers and this is a good project,” he said.

“We are certainly in a crisis when it comes to housing due to inadequate supply. We need to have a serious discussion as a country about infrastructure development meant for the public use in our country,” he added.

Read Also: High Court Further Suspends Implementation Of 1.5 Percent Housing Levy To June 10

The Alma, the AU envoy said, for example helped create jobs. According to Cytonn, the entire project employed at 2000 people directly or indirectly.

Also present was Principal Secretary Charles Hinga who noted that the private sector plays a key role in the delivery of decent and affordable housing.

“The Alma Handover comes at a time the Government is working towards realizing the agenda of ensuring that Kenyans own decent and dignified homes,” Mr Hinga said.

Kiambu Governor Ferdinand Waititu was flanked by Kiambaa MP Paul Koinange, members of the county assembly as well as his cabinet members.

For Phase 2, Cytonn is offering a 10% discount to those looking to reserve a unit.

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Written by Eva Nyambura

Content creator at | Passionate about telling the untold story. Lover of life, music and technology. Simplicity is KEY



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