•The CEO position has been created to drive the future growth of Superior Homes which plans to announce two new projects before the end of this year.
•Cytonn Investments acquired a 25 per cent stake in the family-owned Superior Homes Kenya Ltd business in May 2017.
Superior Homes Kenya has appointed Shiv Arora to the position of Chief Executive Officer, effective August 2020, ahead of major investments later this year.
The CEO position has been created to drive the future growth of Superior Homes, which plans to announce two new projects before the end of this year, in addition to their ongoing real estate development projects on over 150-acres.
Arora has been tapped from Cytonn Investments, which in May 2017, acquired a 25 per cent stake in the family-owned Superior Homes Kenya Ltd business, which has had plans to list on the Nairobi Securities Exchange (NSE).
The acquisition deal for the Greenpark Estate developer was worth Sh1 billion.
The former Chief Operating Officer at Cytonn, who has been on the Superior Homes board for the last three years, is a well-rounded, seasoned and entrepreneurial professional in the real estate and investment industry, with experience spanning across banking, investment management, private equity and real estate.
According to the Superior Homes Board, Arora comes with extensive experience in general management, the ability to recognize opportunity, translate it into effective strategy and action, engage with teams and stakeholders, and deliver.
In addition, Superior Homes will benefit from his experience of developing businesses, establishing corporate structures, strong governance practices, and organizational development.
“We are delighted to welcome Shiv to Superior Homes,” outgoing managing director Ian Henderson said yesterday, “His track record, depth of international and local experience with Citibank, Britam Asset Managers and Cytonn, and his passion around joining our growing business makes him an ideal leader.”
Superior Homes Kenya has developments in Nakuru, Machakos and Kilifi counties , and is among the leaders in master-planned real estate developments in East Africa.
“I have long been a fan of Superior Homes and have watched the company grow over the last decade to the leading master planned real estate developer in East Africa. The concept, quality and delivery model are one with great potential for continued growth and development, in Kenya and also in East Africa,” Arora said.
“I look forward to joining the Superior Homes leadership team and building on the great foundation and growth potential in the business,” he added.
Superior Homes has completed construction and handed over houses to over 500 families at its Greenpark development along Mombasa Road, which are now occupied.
The development offers a gated community lifestyle with amenities such as schools, club house and security.
In addition, in the hospitality industry, Superior Homes has completed the 50-villa luxurious Lake Elementaita Mountain Lodge in Nakuru County, and close to completion of Phase 1A of the 100-acre development in Kilifi County, called Pazuri at Vipingo.
“The Board congratulates Shiv Arora on his new appointment and thanks all stakeholders for their continued support. We are confident as a Board that Shiv has what it takes to steer Superior Homes to the next level,” it said in a statement yesterday.