Dubbed the Sultan Palace Development Beach Retreat, this eco-friendly project covers 60 per cent of the green area with the buildings taking up the remaining 40 per cent. It targets up market local buyers.
Pegged on the economic potential of Kikambala, Sultan Palace Beach
Retreat is one of the biggest upcoming mega housing projects in the area with
the aim of boosting the country’s real estate sector while reaffirming the
tourism potential at the coastal town.
Sitting on 43 acres along 700m of exquisite white sandy beach, Sultan
Palace Beach Retreat is a concurrent development conceptualized by the
internationally renowned Wimberley Allison Tong & Goo (WATG) master
planners, while Planning System Services are the project architects. It is
situated 25Km from Mombasa and covers sufficient space and proximity to the
city for potential owners following huge demand for a family oriented
development in a serene and exclusive environment.
Liu Tiancai, General Manager, Sultan Palace Development Ltd, said the
project is targeting high end property investors following increased interest
by Kenyans in holiday homes.
“There was a gap in this sector and we felt the need to venture into
this market as Kenya has proven to be the world tourism destination with beach
retreats as one of the most sought after destinations worldwide,” said Liu.
The retreat will include 'The Souk', a residents’ club that
comprises a beach bar, a gourmet restaurant, an elegant café / brasserie as
well as a gym and a luxury health spa. In addition, residents will have access
to a water park and kids club to entertain the whole family; the second phase
will see the developer introduce five-star hotels.
“We have over 20 years’ experience in real estate. We have done this in
countries around the world and feel Kenyans deserve the best that we have to
offer”, the General Manager said. “This is a very tourism oriented development
and Kenya has definitely proven worthy of every investor’s list, in terms of
its potential and growth capacity. We wanted to create a global destination,
something Kenyan, authentic yet modern, that you would find nowhere else in the
world."
The 2014 Economic Survey highlighted housing as one of the sectors that
give indication on the trend of economic growth in the country with the
economic pillar of Kenya’s Vision 2030 highlighting flagship projects to
develop resort cities in Diani, Kilifi, Lamu, Turkana and Isiolo, with a view
to optimizing the rich tourism potential and attract economic activities and
investments within the regions.
In addition, other units include the Emerald condos and Ruby Beach
House that will retail at an introductory price of Sh. 9.95M and Sh
29.95M and respectively, in the resort that embodies Swahili Arabic
architecture, complete with a modern design. Potential buyers are requested to
pay an initial 20 per cent deposit, followed by eight quarterly installments of
10 per cent per quarter.
According to the General Manager, properties around North coast experience
a 10- 15 per cent per annum capital growth and the developer anticipates
investors in Sultan Palace Beach Retreat will get a substantial return both on
capital and rental investments.
More than 90 per cent of the workforce is Kenyan, spread across all
levels and the completion date is set for December 2016, with the project being
fully financed.
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