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February 16, 2019

Karuri targets Sh140bn property with new investment vehicle

Developers of Longonot Gate mega resort city on 2,400 acres in Naivasha valued at Sh85 billion yesterday formed a holding company.

Resorts & Cities Ltd will help future projects reap brand equity from the professionalism associated with the Longonot Gate, its chairman Lee Karuri said. He said the company will build properties valued at Sh140 billion over five years.

They include homes, golf courses, hotel and convention centres, hospitals, schools, shopping malls, and sports centres.

“What we are putting in place is a brand association strategy: every real estate project we develop will have a distinct mark of quality associated with the Resort & Cities brand,” Karuri said.

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