Cytonn hands over 113 apartments

Cytonn Investments says 113 luxury units in its high-end development, The Alma, will next week be handed over to owners.

The firm plans to complete all 477 units within the next two years.

Chief executive Edwin Dande said the project that currently employs 600 skilled and unskilled artisans is being implemented in three phases, with sales still going on under the off-plan development programme.

“Buying off-plan, like it happened in our first phase, is cheaper for buyers and gives us the much-needed development cash, complementing investments made by local and foreign investors in the Sh4 billion mixed-use development,” he said.

Mr Dande said phase one units, comprising 16 one-bedroomed, 70 two-bedroomed and 27 three-bedroomed apartments had all been sold.

He said the firm has adequate financing for the project and that the second phase will be ready for occupation by the end of the year with the final phase slated for completion in the first quarter of 2020.