In line with Cytonn Investment’s strategy of connecting capital from global and institutional investors, the real estate firm has acquired 25 percent stake in Superior Homes at a cost of Ksh 1 billion.
Cytonn’s Chief Investment Officer Elizabeth Nkuukuu affirms that the deal provides a real opportunity for the firm to introduce another segment of exposure in real estate to their clients.
“Superior Homes is a leading real estate developer in Kenya most notably renown for pioneering the execution of the master planned gated communities in the Nairobi Metropolis namely the Greenpark estate in Athi River which is more than just a gated community since it has established a community and neighborhood presence, providing a secure institutional grade and lifestyle living.”
With offices in Nairobi and DC Washington to cater for the Diaspora clients, Cytonn has not been shy in its aggressive quest to become the top investment solutions provider with strategic partnerships a top priority for the company.
“After a strong 10-year track record, it was important to tie up with a partner with shared values, aspirations and complementary capabilities,” Managing Director Superior Homes Ian Henderson said speaking at the partnership launch.
“Through this partnership and the investment, we shall work to grow our deal pipeline, drive the company towards listing on the Nairobi Securities Exchange, subject to regulatory approval, during the course of 2017, and continue delivering aspirational neighborhoods to all our home owners and make our contribution to growing the Kenyan economy.”
Cytonn Managing Partner and Chief Executive Officer, Edwin. H. Dande reaffirmed the sentiments shared by earlier speakers stating that the landmark partnership between Superior Homes and Cytonn is complementary in nature and his firm seeks to capitalize on Superior Homes’ stellar track record of efficiency and restructuring real estate investment products which also complements Cytonn’s development affiliates.
“Together we are going to move faster and more efficiently in providing housing for families, create jobs, grow the economy and uplift standards of living,” adds Mr. Dande.