Centum Investments is set to build a chain of elite international schools after acquiring a 20-acre piece of land for its latest venture.
Centum, in partnership with a Dubai-based PE firm and an international chain of schools, is looking to build a 2,000-capacity institution that will admit pupils from kindergarten to high school on the land.
The land is situated near the popular Paradise Lost recreation park. It was purchased from the family of a former Gatundu MP and coffee tycoon, Zakaria Kimemia Gakunju. The 20 acres were hived off a 160-acre coffee farm owned by the tycoon’s family.
The acquisition is estimated to have cost Centum and its partners Investbridge Capital and Sabis Sh. 1.2 billion going with the Sh. 60 million per acre land prices in the area.
“The total land on which the proposed project will be developed is 20 acres, of which 17 acres will be used for the school, and three acres set aside for future teaching staff and student accommodation,” Centum says in its filings.
The new project is expected to cost at least Sh. 535 million and will be open by September 2018.
Centum and Investbridge will manage the school while Sabis will supply its proprietary curriculum and textbooks, under an investment vehicle called Africa Crest Education Holdings Limited. Centum will own 40 per cent, Investbridge will own 40 per cent, and Sabis will own 20 per cent.
Ihav a5 acre at galot along village inn opposite kist collage going for 350m bt it’s negotiable