Money Markets
Fusion Capital chief executive Luke Kinoti. PHOTO | FILE
By CHARLES MWANIKI, cmwaniki@ke.nationmedia.com
Private equity firm Fusion Capital has completed the
sale of its 80-unit middle income housing project in Athi River and paid
back the financiers of the construction loan.
The firm said Wednesday that its investors had doubled their
investment through returns from the sale of the Graceland Athi River
housing project, whose cost was Sh600 million.
The project which kicked off in 2008 was a joint
venture between Fusion and Hand in Hand Group, a firm specialising in
construction and farming.
“The three-bedroom houses, each with a separate
servant’s quarter were offered for sale at escalating prices through the
construction period, with the last houses being sold for around Sh11
million each,” said Fusion in a statement.
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