Construction works on Nairobi’s tallest estate in Kenya has commenced after Chinese billionaire Zeyun Yang launched the development.
“This iconic project is bound to change the Nairobi skyline as it will be the first project of its magnitude in East and Central Africa; that will give its residence access to the beautiful panoramic views of Nairobi,” said Zeyun Yang.
The River Estate
The high-rise apartment project dubbed ‘The River Estate’ is located next to Ngara Girls High School. It is has a total of 2,720 high-rise apartment units and features eight apartment blocks each 34 floors high, with 340 homes per block.
The development will have a capacity to house 2720 families, creating local demand for other amenities. It will consist of 3 types of houses including 3-bedroom apartments, 2-bedroom apartments and 1-bedroom apartments.
The River Estate will be constructed by Edermann Properties owned by the Chinese billionaire Zeyun Yang. It will gift the Kenyan capital its tallest homes beating 22-storey Le’mac Towers, Nairobi’s residential tower.
The US $70m project is being financed jointly by the national and county governments, in line with the government’s affordable housing agenda. Developers have invited prospective buyers to book their units whose prices range between US $60000 for a one-bedroom unit and US $84000 for a two-bedroom house.
“Booking fee is US $2,976 per unit which is non- refundable; deposit 10%, and balance 90% on completion,” said Edermann Properties.
Additionally, Edermann Properties has pledged to put up a bridge from the estate to Grogan road across Nairobi River to ease movement of people into and out of the 2.3-hectare gated community.
The proposed project will contribute to significant positive impacts in the area during its construction and operation phases. It help in creation of employment opportunities, optimal use of land, incorporation of collective waste management practices, increase in revenue to the proponent, national and the county governments among others.
About Edermann Properties
Edermann Properties, has been operating in Kenya since 2003, and has built about 4,000 homes and warehouses in Nairobi and Mombasa including; Great Wall Apartments on Mombasa Road, Seefar Apartments on Mbagathi Way, Metro Fair View Towers Pangani, and Windsor View Apartments among others.
Source: Kenneth Mwenda