[Photo: FILE]Centum Investment plans to raise Sh4 billion from local investors to finance the ongoing housing projects in KenyaTo be floated through its development subsidiary Centum Real Estate, the bond is intended to fund the company’s projects that are already under construction and at various stages of completion. It comes as Centum Real Estate has approved a project pipeline of 4,426 residential units, where the first phase of 2,000 units is under construction while others are pre-selling. Centum Real Estate Managing Director Samuel Kariuki said subscribers to the bond will have an option of investing in an equity-linked component. “We are keen on addressing existing gaps in the linkage between Kenya’s real estate sector and the capital markets,” he said. Centum Real Estate Limited is the holding company for the Group’s Vipingo Development Limited in the Kenyan Coast, Pearl Marina Estates Limited in Uganda, Uhuru Heights Limited in Nairobi, and Centum Development Kenya Limited.

Source: Standard Digital October 27, 2020 14:15 UTC