Business Daily
Mauritian real estate fund Xterra Capital Advisors has identified Kenyan properties worth close to Sh 12 billion in which it will invest the proceeds from its on-going fundraising.
The property fund says it will invest Sh11.6 billion in a 90,000 square metres high-end mixed-use development in Nairobi County.
Xterra Capital chief executive Wagane Diouf said he could not give finer details of the properties to avoid jeopardising the deals in the pipeline.
“We cannot give the names of the properties due to competition,” said Mr Diouf.
The Nairobi-based property will be completed in 2018.
Xterra Capital plans to raise $300 million (Sh30.2 billion) in equity and a similar amount in debt making a total of Sh61.4 billion, majority (34 per cent) of which will go to Kenya’s property market.
