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Nairobi Metro Region Projects and construction in the Nairobi Metropolitan Region


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Old September 29th, 2017, 10:45 PM   #61
donddon
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Quote:
Originally Posted by Netlink View Post
From Daily Nation



A few mistakes in that article as well but...
Just "Adding salt" to the story to attract you to it.
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Old September 30th, 2017, 12:10 AM   #62
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Everything they want to do is gynomous in these guys world.
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Old September 30th, 2017, 06:40 PM   #63
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I also support sleep piano's view. The number of projects these guys have and their balance sheet leaves more questions that answers. Also their aggressiveness with their other cash management solution gives the idea this is part of their process of raising funds.
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Old October 1st, 2017, 04:49 AM   #64
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Most local financial institutions are reluctant to fund Cytonn projects. Projects churned out by them are not selling fast enough to the local financial institutions liking. They are left to scout for partnerships with PEs world over. Highend housing market is targeted towards the upper middle and expat community. Projects like Amara Ridge and Situ Village by them are some of the examples.

Most of these highend homes in upmarket Nairobi are experiencing long periods of no tenancy, giving potential investors second thoughts. All this cuts deeper into their cash management solutions since they use the deposits to fund the projects. Projects not selling translates to the depositor risking not receiving his returns at the rates that Cytonn guarantee. It's not surprising that they use new investor money to pay old investor returns. Like someone mentioned earlier, it just could be a house of cards.

All in all, I really hope they get this project built. Very gorgeous addition to Nairobi's already flaming skyline.
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Old October 2nd, 2017, 08:40 AM   #65
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Ignorance.
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Old October 2nd, 2017, 10:20 AM   #66
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Don't know too much about Cytonn besides what's publicly available, but if their current projects are anything to go by, then this will get built.
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Old October 9th, 2017, 05:15 PM   #67
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20% presale on the date of launch. This is according to Edwin Dande, ceo cytonn, fb post. Last I checked montave was almost fully booked, pinacles one tower booked by hilton.These towers will rise with less focus on office space and more emphasis on residential.
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Old October 10th, 2017, 09:08 AM   #68
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I attended the launch event on the weekend. They were pushing sales very hard, almost asking you what apartment you wanted to buy as you walked in.

I'd be very surprised if that 20% is correct.
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Old October 10th, 2017, 11:16 AM   #69
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Apart from the details outlined here what other new info did you obtain from the launch?
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Old October 10th, 2017, 05:02 PM   #70
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I think anyone who puts their hope on this is really crazy optimist. I see rivers of tears soon. We love sexy buildings but no point in fooling ourselves. Remember they had renders of a city somewhere near greater eastern bypass?! This is for dreamers building castles in the air.
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Old October 10th, 2017, 05:04 PM   #71
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Quote:
Originally Posted by sleekpiano View Post
I think anyone who puts their hope on this is really crazy optimist. I see rivers of tears soon. We love sexy buildings but no point in fooling ourselves.
What exactly do you mean, any specific project info you can share with us? might help someone reading.
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Old October 10th, 2017, 05:44 PM   #72
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ata nashangaa kile huyu jamaa anaandika?!
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Old October 10th, 2017, 05:57 PM   #73
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The only reason this would not materialize is if we end up in a state of war. Political uncertainty is out biggest enemy. In reality this project is not even bigger than Montave, Avic or Pinnacle, which are actually under construction. The Ridge by Cytonn, is half the cost and is under construction, not to mention the many other projects they have under construction. If we get over the politics, this project will not even be among top 5 in the next 5yrs (on condition Raila doesn't screw the country up)
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Last edited by royco mchuzi; October 11th, 2017 at 01:51 AM.
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Old October 11th, 2017, 07:32 AM   #74
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On the Cytonn's FB page,you will realize that they were fighting baseless rumors about their projects and financial status.Apparently,some idiots were spreading lies that their project the Alma had stalled.They indicated that the Alma was moving on well and also displayed their financial statement on their website.
Cytonn has enemies and this forum has a number of them.
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Old October 11th, 2017, 09:58 AM   #75
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Agreed, I think there's some sort of info war going on about this project.

Maybe its just kawaida competition maneno from other real estate firms , not sure who but there's definitely something going on.

I wish they knew that us wananchi here at SSC are happy to see as many projects as possible becoming successful.

I think Cytonn are doing a great job, although if presented with actual concrete issues and not mere speculation, I'm willing to change my view.
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Old October 11th, 2017, 12:00 PM   #76
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We shall revisit this thread after 2 years to check the aftermath. I don't want to look like a wet blanket. But I admire your optimism guys.
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Old October 11th, 2017, 01:20 PM   #77
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Quote:
Originally Posted by sleekpiano View Post
We shall revisit this thread after 2 years to check the aftermath. I don't want to look like a wet blanket. But I admire your optimism guys.
We've waited for much longer in other threads but most eventually pan out, while a few don't.

I guess we just have to wait and see.
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Old October 11th, 2017, 01:24 PM   #78
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Old October 11th, 2017, 02:29 PM   #79
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Quote:
Originally Posted by royco mchuzi View Post
20% presale on the date of launch. This is according to Edwin Dande, ceo cytonn, fb post. Last I checked montave was almost fully booked, pinacles one tower booked by hilton.These towers will rise with less focus on office space and more emphasis on residential.
These stats have been proven to be fake. Take a stroll to Pinacle and you'll be amazed at the number of empty flats. I honestly think Nairobi is experiencing a glut of these so called 'high end' flats but that's a good thing for me as it means the prices may in the end come down. The huge amount of towers popping up is a bit concerning though. One fears for a repeat of Jozi's Ponte in Nairobi if demand does not pickup..
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Old October 11th, 2017, 02:44 PM   #80
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Quote:
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Take a stroll to Pinacle and you'll be amazed at the number of empty flats. .
Bruh! which empty flats?

Pinnacle hasn't been built yet. Ama there's another Pinnacle I'm not aware of?
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