Acquisition of KES 2.9bn from IFC to back 26 Mzizi Court project
We have acquired KES 2.9bn from IFC to back our Edge certified 26 Mzizi Court project which will generate jobs and increase home ownership.
The funding is earmarked to increase construction velocity of the 26 Mzizi court apartments being undertaken in phases at Two Rivers. The first phase of 301 units, 18 storey building, is fully sold out and is currently on the 14th floor of construction. We have commenced phase 2 sales and will utilize the financing to construct the project until the entire development is completed.
Two Rivers integrates the following zones, Retail, hospitality & entertainment zone, office & commercial zone, residential zone, and integrated special economic zone. The zones are supported and served by high quality infrastructure, amenities and security installation that are accessible to residents and visitors. Two Rivers was recently gazetted as a private service focused SEZ (Special Economic Zone) christened the Two Rivers International Finance & Innovation Centre (TRIFIC). The zone will enhance the competitiveness and attractiveness of Two Rivers which allows businesses with regional service operations to be domiciled at Two Rivers SEZ.
The residential development, Mzizi Court Apartments, will capitalize on the synergy and accommodation demand generated by the TRIFIC SEZ workforce effectively providing much needed housing near the offices. There will be demand for affordable, mid – market and high-end homes to house graduate trainees, analyst, managers, directors, and CEO working within and outside of Two Rivers.
The Mzizi homes will feature high quality finishes and enjoy amenities like swimming pool, kids play area, back-up generator, gym, and beautifully manicured gardens among others.