Cytonn gets Ksh.2.1bn funds from Taaleri investments with an aim to venture into affordable housing

Cytonn Investment officials
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Cytonn Investment officials signing the deal with Taaleri investors

By Alex Muriithi.

Taaleri investment firm has been an investor in the Cytonn investment group,and this marks the forth time the firm has invested in the Cytonn group having signed a close deal of Sh3 billion towards projects and investments and having already successfully accomplished  from two other investments, namely Amara Ridge in Karen and The Alma in Ruaka.

The funds will be channeled towards development projects, like the construction of the Ridge, a Sh12 billion mixed-use development by Cytonn located in Ridge-ways.The funding will have tenure of five years.

The Head of Real Estate Private Equity at Cytonn Investments Shiv Arora points out that Taaleri’s investment comes at the right time, when the firm is set to focus on affordable housing.

“Our partnership with Taaleri is testament to our strategy of connecting global capital seeking attractive returns, with the attractive investment opportunity in Kenya and the region. Through all of Taaleri’s investments with Cytonn, we have been able to create over 2,000 jobs both directly and indirectly and delivered inspiration and institutional-grade real estate to the market. We shall continue investing in mid-income housing even as we ramp up our efforts in affordable housing,” he said.

Taaleri is a financial group whose origin is Taaleri Oyj’s whose share is listed on the stock exchange and the group consists of three business segments  Asset Management, Finance and Energy.

“This Sh2.1 billion investment is the first investment with Cytonn from our second Africa fund, and we are exploring further areas to deploy capital with Cytonn,” said Antti-Jussi Ahveninen, the Head of Real Estate Funds, Africa at Taaleri.

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