SAFARICOM LAUNCHES MULTI-BILLION SHILLING REAL ESTATE PROJECT IN MACHAKOS COUNTY

June 13th 2015… Safaricom Limited, through its Safaricom Staff Pension Scheme (SSPS), has today launched a Kshs 3.4 Billion real estate investment project in Machakos County.

Dubbed Crystal Rivers, the mixed use development is the first such project undertaken by SSPS, and will be the first of its kind in Machakos County. The development sits on 25.5 acres comprising of 270 three and four bedroom residential units, a commercial centre complete with shops, a hospital, restaurants, conference facilities, cinema and casino, and rehabilitated riparian land.

Speaking when he officiated over the groundbreaking ceremony, Machakos Governor Dr. Alfred Mutua lauded the partnership between Safaricom and the County, and expressed optimism about the economic impact the project would have on the area.

”Thanks to Crystal Rivers we foresee an increase in commercial activities that promise to create more employment opportunities, improve the County economy and open up the area to more investment, as investors seek to take advantage of the County’s proximity to Nairobi City and JKIA,” said Governor Mutua. “I am pleased that Safaricom, through its Staff Pensions Scheme, has seen it fit to partner with us yet again to bring a development that true to its word, will transform lives.”

The project seeks to capitalize on the real estate market in Machakos County, which has in the past few years enjoyed a construction boom.

“With this project, we expect to contribute significantly to the economic growth of Machakos County, which has proved to be a leader in development following the implementation of devolution,” said Safaricom CEO Bob Collymore, adding: “The investment also aims to diversify our pension scheme’s investments and give our members good returns, while at the same time giving the public a chance to own some great real estate.”

The project will offer a combination of luxury and convenience just a few minutes’ drive from Jomo Kenyatta International Airport. While the residential units will be available for sale to the public, Safaricom Staff Pension Scheme will retain ownership of the commercial center.

“We are pleased to see the efforts of the Safaricom Staff Pension Scheme coming to fruition, and proving that investment in readiness for retirement is of great benefit especially to those who begin to do so in their youth,” added Retirement Benefits Authority CEO Dr. Edward Odundo.

The pension scheme has over 4,900 members, who apart from investing in the Crystal Rivers project are also undertaking another real estate venture in Mandharini, an award-winning luxury development in Kilifi County.

June 13th 2015… Safaricom Limited, through its Safaricom Staff Pension Scheme (SSPS), has today launched a Kshs 3.4 Billion real estate investment project in Machakos County.

Dubbed Crystal Rivers, the mixed use development is the first such project undertaken by SSPS, and will be the first of its kind in Machakos County. The development sits on 25.5 acres comprising of 270 three and four bedroom residential units, a commercial centre complete with shops, a hospital, restaurants, conference facilities, cinema and casino, and rehabilitated riparian land.

Speaking when he officiated over the groundbreaking ceremony, Machakos Governor Dr. Alfred Mutua lauded the partnership between Safaricom and the County, and expressed optimism about the economic impact the project would have on the area.

”Thanks to Crystal Rivers we foresee an increase in commercial activities that promise to create more employment opportunities, improve the County economy and open up the area to more investment, as investors seek to take advantage of the County’s proximity to Nairobi City and JKIA,” said Governor Mutua. “I am pleased that Safaricom, through its Staff Pensions Scheme, has seen it fit to partner with us yet again to bring a development that true to its word, will transform lives.”

The project seeks to capitalize on the real estate market in Machakos County, which has in the past few years enjoyed a construction boom.

“With this project, we expect to contribute significantly to the economic growth of Machakos County, which has proved to be a leader in development following the implementation of devolution,” said Safaricom CEO Bob Collymore, adding: “The investment also aims to diversify our pension scheme’s investments and give our members good returns, while at the same time giving the public a chance to own some great real estate.”

The project will offer a combination of luxury and convenience just a few minutes’ drive from Jomo Kenyatta International Airport. While the residential units will be available for sale to the public, Safaricom Staff Pension Scheme will retain ownership of the commercial center.

“We are pleased to see the efforts of the Safaricom Staff Pension Scheme coming to fruition, and proving that investment in readiness for retirement is of great benefit especially to those who begin to do so in their youth,” added Retirement Benefits Authority CEO Dr. Edward Odundo.

The pension scheme has over 4,900 members, who apart from investing in the Crystal Rivers project are also undertaking another real estate venture in Mandharini, an award-winning luxury development in Kilifi County.

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