Centum Re begins handover of 400 high-end apartments at Nairobi's Two Rivers development

Centum Real Estate begins handover of Cascadia apartments at Nairobi’s Two Rivers development. [Courtesy]

Centum Real Estate has handed over the first batch of 175 units at its Cascadia apartment complex in Nairobi's upscale Rosslyn suburb.

This marks the first phase of a 400-unit high-end development, the company said in a statement on Wednesday.

Nearly 200 buyers received keys to their homes during a handover ceremony last Saturday, with the remaining units expected to be delivered progressively through December 2026. Centum Re, the fully-owned subsidiary of Centum Investment Company PLC.

"The completed development has the potential to become a meaningful residential income asset for homeowners and investors," said Kenneth Mbae, Managing Director of Centum Real Estate. "Based on prevailing rental expectations of approximately Sh100,000 per unit per month, the estate could support a rental value of up to Sh40 million per month across all units."

The Cascadia Apartments offer one, two and three-bedroom units as well as duplexes with detached servant quarters. A three-bedroom apartment is priced at Sh21.95 million and has a floor area of 1,163 square feet, according to the developer.

The development is located within the 102-acre Two Rivers Development on Limuru Road, bordering the upscale Runda estate.

The property sits on two acres of landscaped parkland.

The Cascadia apartments are located a short distance from the United Nations Complex, the hallmark of Nairobi's diplomatic "blue zone," offering easy access to world-class retail and leisure facilities.

Buyers have access to funding options from a range of financiers. KCB has extended an 8.9 per cent fixed-rate mortgage offer to Cascadia customers, while other banks have also provided financing solutions.

"The accessible funding options mean many customers are now able to complete payment for their units through mortgage financing rather than solely relying on personal savings or staggered instalments," Mbae noted.

Centum Re currently has a total of 1,006 housing units under development in Nairobi, Kilifi, and Entebbe in Uganda.

Mbae said the value of the prime property is estimated at more than Sh5.2 billion.

About 60 per cent of the buyers are resident Kenyans, 25 per cent are Kenyans living abroad, and 15 per cent are foreigners, according to the company.