The State has revealed the list of Cytonn Investments real estate properties set for auction to realise money for compensating more than 3,000 investors owed 11 billion shillings.
Business Registration Services (BRS) has published a list of six properties in Nairobi and Kiambu counties as it opens auction bids. The properties are linked to Cytonn High Yield Solutions (CHYS) and Cytonn Real Estate Project Notes (CPN) —the two Cytonn Investments’ vehicles that collected investors’ money but defaulted.
Among the assets listed is The Ridge, a mixed-use development located in Ridgeways, Nairobi, near the junction of Kiambu Road and the Northern Bypass. The project sits on a 9.874-acre piece of land and has apartments with one to three bedrooms totalling about 800 units.
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