MOMBASA, KENYA: Real estate developer Urithi Housing Cooperative Society is set to test the Mombasa market with one and two-bedroomed luxury apartments. A fully furnished one bedroom apartment at Kikambala, Mombasa, will go for Sh2.5 million while two-bedroomed apartment will be sold at Sh3.5 million upon completion.
The developer says its greenfield 200-home apartments will tap into a viable tourist market. Uriithi is targeting members who may want to invest and rent the facility to holiday goers but has already earmarked Sh700 million for the project. The groundwork is set to commence in the next few months, funded through member’s contributions and internal cash reserves.