Cytonn Investments Plans to Raise Kshs 2.0 billion to Fund Real Estate Projects

Cytonn Investments Management Plc says it will appeal against the High Court directive that dismissed their petition that sought to challenge the Capital Markets Authority directive limiting their projects under its asset managers unit to 10 per cent.

Edwin H. Dande - Chief Executive Officer at Cytonn Investments speaking during the Investments Analysts and Investors Open Day.

Cytonn Investments, a leading alternative investment management firm in the East African Region, said it plans to raise Kshs 2.0 billion of capital through Development Real Estate Investment Trust, (DREIT).

As a result, the investment firm has filed an application with the Capital Markets Authority (CMA), to register a Development Real Estate Investment Trust, (DREIT).

The DREIT  will be deployed for the first phases of two of our real estate projects, The Ridge in Ridgeways, and RiverRun Estates in Ruiru. 

If approved the offer would bring access to high-yielding investments to investors in the regulated markets. 

With the transition to regulation through Cytonn Asset Managers Ltd, regulated by the CMA and the Retirement Benefits Authority, Cytonn is now inclined toward bringing access to high-yielding alternative investments to the regulated markets. 

“If successful, the funds will be deployed towards the development of Phase 1 of The Ridge and Phase 1 of RiverRun Estates,” said Bryan Gitia, a Real Estate Investment Analyst at Cytonn. “The capital raise is in line with Cytonn’s strategy, through which landowners connect with institutional capital and development capability onto one platform. This strategy creates jobs, grows the economy and improves the standards of living in Kenya,” added Bryan.

The offering is being advised by:

The Transaction Advisor is Standard Investment Bank,

Legal Advisors are KN Law LLP,

The Reporting Accountants are Baker Tilly Merali’s,

The Trustee is Housing Finance, and,

The REIT Manager is Cytonn Asset Managers Ltd.

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