Thursday, July 25, 2024

Kenyans living in US launch Sh. 5.1 billion housing project in Malindi

A group of Kenyans living in US has launched an ambitious housing project in Malindi that is valued at an estimated Sh. 5.1 billion ($40 million). The project will see the group of investors from the US build 400 ultra-modern houses in various investment phases within Malindi.

The first phase of the project will see the construction of about 96 houses that have been dubbed as the Royal Tulia Gardens. This phase of the project will be constructed at Mtangani area which is approximately 7 kilometres from the Malindi International Airport in Kilifi County.

The project will be undertaken by the Betts Townsend Taylor Company which has been delivering projects in Africa for 27 years.

Co-Op post

“We have been hearing that the government is going to expand Malindi Airport. This needs to happen urgently because the government is missing out on many business opportunities. We need international flights landing in Malindi,” said Ralph Kilondu, the Chairman of Capital Compass Group and Royal Tulia Gardens.

The Royal Tulia Gardens will offer the residents a luxury upmarket lifestyle in a peaceful and natural landscape, where a given. comfort and elegance, and access to exclusive amenities and services. The project will include two and three bedroom apartments that will be built on a 4 acre piece of land.

Ralph Kilondu: It took me 20 years to build a successful business in US

NCBA

“Royal Tulia Residences boast an array of curated design elements that cater to all ages, tastes and occasions that matters to the discerning homeowner. Sought- after exclusivity and uninterrupted tranquility is centric to this development,” states Capital Compass Group in an investors’ brief.

Chairman Kilondu noted that the project will give Kenyan investors in the US an opportunity to reconnect with Kenya. “People like me and others who have reached that age of wanting to retire back home want our children who are adults in the US to establish a bond with Kenya,” said Kilondu.

“We want them to know that Kenya is home, where they can come invest and be part of the country’s development.”

NCBA

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