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Tuesday, July 23, 2024

Cytonn awards Sh14b tender to Chinese construction firm

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Cytonn Real Estate said Monday it has awarded the tender for the development of The Ridge to Chinese construction firm China Railway Jianchang Engineering Company Ltd after a competitive bidding process.

The Ridge, a mixed-use development is on a 10-acre piece of land in Ridgeways, Nairobi County and it is currently valued at Kshs 14 billion.

The commencement of construction of The Ridge, which broke ground last year, will see over 1000 jobs created directly and other another 1200 indirectly.

Elizabeth N. Nkukuu, the Chief Investments Officer, Cytonn Investments, speaking during the award ceremony noted that “Getting the right partners to work with is crucial in ensuring we deliver the lifestyle and convenience we are offering our clients who bought into The Ridge, this is why the procurement process was rigorous.”

She further noted that China Railway Jianchang Engineering Company not only met the technical expertise but the competency required as well.

The Ridge is a comprehensive and luxurious mixed use development located in Ridgeways, Nairobi approximately 10 Km from Nairobi Central Business District, 300m from the junction of Kiambu Road and the Northern Bypass, 5 minutes’ drive from the Two Rivers Mall, the biggest shopping mall in East Africa, less than 10 minutes’ drive to Windsor Golf Club and 15 minutes from UNEP headquarters in Gigiri.

The development will consist of 1, 2, 3-bedroom with a DSQ residential apartments and penthouses, a retail/commercial centre, and serviced apartments.

The development will deliver comfort and convenience with high quality living standards that will appeal to both the discerning home owners and investors who are either seeking a luxurious lifestyle or to earn attractive yields.

The land is engulfed in the scenic view of Karura forest. Infrastructural improvements along UN avenue road and Kiambu Road will greatly enhance connectivity and accessibility to the Central Business District.

The Ridge is part of Cytonn Real Estate’s 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; Amara Ridge a gated community development in Karen, The Alma in Ruaka, Taraji Height along Limuru Road, Situ Village in Karen and Cytonn Towers in Kilimani.

Cytonn Real Estate is an affiliate of Cytonn Investments with over Kshs. 82.billion in real estate projects under mandate.

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