Centum Real Estate is constructing 270 affordable residential units at the Two Rivers development complex in Kiambu.
The phase one, Mzizi Court Housing projects, has so far attracted nearly twice the number of homebuyers targeted, meaning that the project is
already overbooked. lt will consist of one, two and three-bedroom units with prices starting from Sh4.9 million with a flexible payment plan.
Centum RE managing director Kenneth Mbae said 450 customers have already paid cash deposits by coming to buy the apartments, overshooting
the phase one supply by more than 66 percent. Pre-bookings by prospective buyers of at least one third of units is a requirement set by Centum
before groundbreaking the project. The project has, however, surpassed the threshold. ” The demand exceeds Supply supported by the expected double-digit rental yield which supports us to launch phase 2 soon,” said Mr Mbae during the ground breaking of the project. The event was attended by Centum Investment PLC chief executive officer James Mworia.
Centum RE is a fully-owned subsidiary of the Nairobi Securities Exchange listed Centum Investment PLC. While the real estate firm has achieved a 45 percent completion rate of its residential projects portfolio in Kenya, only 55 percent are at various stages of development. Mzizi Court apartments are within
the 102-acre Two Rivers development. It features 30 acres of green spaces with amenities such as a 1.06-acre sports district fitted with an Olympic
size swimming pool, kid’s pool, seven-aside football pitch, basketball court, kids play area and 2.7km jogging tracks.