Diaspora Kenyans Invest In Sh4.5 Billion Kilimani Project

Kenyans in the diaspora and moneyed local executives have purchased 86 units off-plan in an upcoming residential development in Kilimani, Nairobi, the developer has said.

The units are under the Sh4.5 billion Purple Haze residential development.

The developer, Edifice Limited says the 13-storey high-rise property targeting affluent clients looking for green developments near Nairobi’s downtown, has opted for cash only buyers as it nears June 2019 completion.

Edifice project director Mavji Varsani says about 50 units are set aside for renting corporate executives and foreigners.

He says the developer raised equity and sourced property financing from the Commercial Bank of Africa (CBA) in a deal to facilitate mortgage purchases.

The property sits on a two-and-a-half acre parcel of land and hosts 216 units of two, three and four-bedroom duplex apartments surrounded by Zen gardens-climbing plants next to water fountains.

It was designed by Singaporean WAVE Design Consultants Architect Amit Mody and 12 penthouses valued at Sh78 million, six units of four bedrooms next to another six units of three-bedroomed penthouses selling at Sh70 million.

Some of the features in the homes include Italian Kitchens complete with appliances, Spanish Tiles (Pamesa), Spanish Bathroom Vanities, fully fitted wardrobes, German sanitary ware and bathroom fittings, two parking per apartment and self-contained ensuite DSQ.