Centum Real Estate has handed over the second phase of the Loft Residences, located within the Two Rivers commercial and residential complex in Nairobi, to buyers.
According to Centum Re, the handover marks another milestone for Centum Re, which has completed thousands of homes in Nairobi, Kilifi, and Entebbe, Uganda.
Centum Re Managing Director Kenneth Mbae stated that phase 2 of the Loft Residences was fully sold out well ahead of completion, underscoring the high demand for luxury housing in Nairobi.
“We are proud to have fulfilled our sales pitch and met the aspirations of our investors.”
“The growing waiting list of prospective tenants at Two Rivers opens up multiple wealth creation opportunities for investors,” he said.
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The apartments, priced between Kes 36 million and Kes 52 million, have already appreciated in value significantly.
Centum says the development has attracted buyers from across six continents, with approximately 90 percent of purchasers being investors.
These include businesspeople, Kenyans in the diaspora, and expatriates.
Similarly, Centum revealed that the units demonstrated strong investment potential, with over 10 percent rental yield and 25 percent capital appreciation.
According to the company,79 percent of buyers paid in cash through milestone-based plans, while 21 percent secured mortgages.
Interestingly, four out of every five units have been listed for rent, attracting diplomatic missions and multinational corporations.
