Centum’s strategy in real estate is to participate in the entire development process beginning with land development, moving on to the property development and finally the property and portfolio management process. Centum’s real estate management process is hinged on, through our Real Estate and Infrastructure subsidiary, Athena Properties Limited, developing a real estate solution that addresses a compelling market need.
In this case, the opportunity to develop quality environments for commercial activity and with an integrated blend of uses ranging from retail, entertainment, offices, hotel and serviced apartments has been identified as a compelling and unmet need.
The value of Centum’s investments in the RE&I has grown tremendously from KShs 36 Mn in 2010 to KShs 11.2 Bn as at September 2014. The key driver of this growth in value is the successful completion of acquisition of two prime undeveloped properties in 2011 followed by land development processes on the properties. Our pioneering real estate developments are in Nairobi and Entebbe.
In Nairobi, our Two Rivers project is located in the diplomatic blue zone in Gigiri. Our vision is to develop a premium world class master planned urban address set within a controlled and secure development that will be a number one regional destination & address in East Africa and beyond for a long time to come.
In Uganda, our Pearl Marina project is located on the Garuga peninsula in Entebbe. Our vision is to develop a mix of a world class commercial, resort and residential water front development named Pearl Marina.
In both cases, the opportunity to develop quality environments for commercial activity with an integrated blend of uses ranging from retail, entertainment, offices, hotel and serviced apartments has been identified as a compelling and unmet need.
We are also in the process of acquiring approximately 10,500 acres of prime land in Vipingo.
Our master plans seamlessly integrate commercial, retail, residential and recreational and social amenities on the same site to optimize on land use. Our current developments are the foundation for a permanent real estate investment vehicle designed to provide investors with access to sizeable, diversified investment grade real estate assets.