Centum Real Estate has successfully handed over the fully sold apartments from the second phase of the Loft Residences, situated in Nairobi’s Two Rivers commercial and residential complex. This event marks a significant achievement for Centum Re, which has completed numerous housing projects across Nairobi, Kilifi, and Entebbe, Uganda.
Kenneth Mbae, Centum Re’s Managing Director, highlighted the early sell-out of phase 2, showcasing the high demand for luxury housing in Nairobi. “We are pleased to have delivered on our promises and met the expectations of our investors,” Mbae stated.
He also noted that the growing interest from prospective tenants at Two Rivers presents substantial opportunities for wealth creation for investors.
The apartments, priced between Sh36 million and Sh52 million, have already appreciated in value. The development has attracted a diverse group of buyers from six continents, with around 90 percent being investors, including businesspeople, Kenyans abroad, and expatriates.
These units have shown promising investment returns, with over 10 percent rental yield and 25 percent capital appreciation. Approximately 79 percent of buyers opted for milestone-based payment plans, while 21 percent took out mortgages.
Interestingly, 80 percent of the units have been listed for rent, drawing interest from diplomatic missions and multinational corporations. The development’s location near Gigiri’s diplomatic zone and improved access to key areas, such as the airport, has made it a preferred choice for corporate and diplomatic tenants.
