Centum RE

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Centum Real Estate Ltd. (“CRE”, “the Company”), is a wholly owned subsidiary of Centum Investment Company Plc (“CIC”, “the Group”, “the Sponsor”). The Company focuses on three real estate business nodes, namely housing, development rights, and property management. CRE currently serves as the holding company for four wholly owned subsidiaries: Vipingo Development Plc (“VDL”), Centum Development Kenya Ltd (“CDKL”) and Uhuru Heights Ltd (“UHL”) (all domiciled in Kenya), and Pearl Marina Estates Ltd (“PMEL”) domiciled in Uganda. VDL and PMEL are large mixed-use developments selling both development rights and residential infill developments on their respective land banks.The proposed IFC investment is a US$20.0 million A Loan (“the Loan”) to support Centum Real Estate Ltd. (“CRE”, “the Company”), to finance its development of 1,940 units of affordable housing in Two Rivers Development (“Two Rivers”), a prime 104-acre mixed use urban node located within Kenya’s Diplomatic Blue Zone in northern Nairobi (“the Project”). The development consists of residential units and business centers. IFC will be financing all three phases of Mzizi Home project. The Project is currently in its first phase of construction that is due to be completed in July 2024 and is currently managed by a third-party contractor. Once completed units are 80% sold, CRE will handover to a third-party property management company who will manage the initial operations phase prior to formation of a property management company by the homeowners. Centum Real Estate’s strategic housing investment in building 9,908 housing units within Two Rivers in the long-term will be to address the obvious and increasing affordable housing market gap in Kenya.