Heri Homes on Saturday held an investors forum at the Two Rivers social city in the serene Runda neighborhood. Around 430 people looking to own homes in the exclusive mixed use city were in attendance.
Heri Homes was recently appointed by Centumreal estate, the real estate arm of the Centum Investment Company, the developers of the Two Rivers City, to market the soon to be constructed Cascadia Apartments and villa. Heri Homes has a track record of developing and marketing affordable homes in Nairobi and its environs, with about five complete projects, creating about 3000 proud property owners and investor.
The Cascadia luxurious residential houses which will occupy an area of 4.5 acres will include one, two, three bedroom, 3 bedroom with DSQapartments, duplex villas to a total of 430 units, in 17 floors. The project ranges from Sh8.5m, for a 1 bedroom to 24.5m for a three bedrooms duplex.
“We are known for pooling social capital,” says Heri Homes CEO, Kimotho Kimani, “which includes off the plan investment of which we can authoritatively say we are one of, if not the only real estate firms that has actually delivered houses notably in daystar hostels,Kikuyu Road apartments and Kitisuru view apartments among others.
In this model, for the Cascadia development, investors will pay 10 percent of the amount on signing the sale agreement, 30 percent over the construction period and 50 percent on or before project completion.
Speaking at the forum where about 20 percent of the gathered investors committed to the deal, Centum real estate Managing Director Sam Kariuki said that for those who prefer to own homes in the sprawling 102 acre city, will have access to the most vibrant, working and buzzing destination amenities from swimming pools, shopping malls, recreational and fitness facilities. “It will also be lucrative for those who will prefer to have rental houses. This neighborhoodhas been hungering for good housing, and at two rivers you are assured of access to power and clean water all year around as we have invested heavily on the same.” The return on investment at Cascadia apartments is projected to be 14% and a capital growth of not less than 50%.
Centum Group CEO Mr James Mworia who attended the investor’s forum said, “We believe that Heri Homes, with their track record especially in the off-plan marketing are the ideal partners to drive this ambitious project that is part of the Two Rivers City development plan.”
Two Rivers has just celebrated its two years birthday, and designed as a mixed use from offices, restaurants, entertainment and recreational facilities, has already added two famous brands, the Victoria Commercial Bank and the City Lodge Hotel, 3 star hotel.