Chinese firm gifts Kilifi Sh5bn resort

Houses under construction at the Sh5bn Sultan Palace Beach Resort in Kilifi. Photo/Courtesy

Houses under construction at the Sh5bn Sultan Palace Beach Resort in Kilifi. Photo/Courtesy

There is something rather unique about the upcoming Sultan Palace Beach Resort in Kilifi County.

Strategically placed on a pristine beach front, the upcoming units look out of place in an area where makuti-roofed whitewashed homes reign supreme.

The luxury Sultan Palace houses, some going for Sh80 million, are being put up on a 43-acre beach-front in Kikambala – some 25 kilometres from Mombasa, and have attracted a sizeable number of wealthy Kenyan investors seeking to acquire holiday homes.

The upcoming resort that comprises a mix of luxury apartments and beach homes is well underway and scheduled for completion by end of December.

The development will also include a five star hotel, resident club, cafe, gourmet restaurant, beach bar and a health club.

By mid-February, the Chinese owners of the project – Sultan Palace Development Ltd – had already sold out 100 units of the 210 units of the luxury beach homes, highlighting the rising demand for luxury property in the coastal region.

The sold out units include 11 four-bedroomed all-ensuite private villas dubbed Diamond Residences – each going for Sh80 million; some 20 three-bedroomed townhouses known as Ruby beach houses, each going for Sh36 million and 25 three-bedroomed apartments dubbed Emerald Condos – each selling at Sh24 million.

Others include 44 two and one bedroomed apartments selling for Sh19 million and Sh12 million respectively.

“We started selling the units last year and the response has been overwhelming. The show house plus the main structures are ready and we are currently doing landscaping. By December of this year all units will be ready for owners to move in,” Liu Tiancai, the company’s general manager said in an interview last month.

The Sultan Palace Development Ltd., which boasts over two decades’ experience in real estate, has completed similar developments in countries around the world and has used its cash reserves to finance the Kikambala project.

The Sultan Palace Beach Resort development was conceived by globally renowned Wimberley Allison Tong & Goo (WATG), with Nairobi-based Planning System Services as the project architects.

It joins other high-end properties in the coastal county including Kilifi Creek Villas, Kilifi Bay Beach Resort, Bofa Beach Resort and Baobab Sea Lodge.

“We felt the need to venture into this market as Kenya has proven to be one of the world’s leading tourism destinations for beach retreats.

“Our choice for north coast was informed by the huge appetite for holiday homes in the region,” Tiancai said.

Wealthy property developers are increasingly setting up multi-billion-shilling developments in the region despite slowdown in the local tourism industry following a string of terrorist attacks in various parts of the country.

Shanzu Beach Resort, a Kenyan developer, recently finalised construction of a Sh1 billion beach resort in Shanzu, Mombasa, which comprises 76 two and four-bedroom apartments and duplexes targeted at wealthy owner occupiers and buy-to-let-investors.

The project, dubbed The Shaza, sits on a five-acre beach-front in Shanzu and is touted as the “most exclusive” resort in the region.

The projects are in line with the Vision 2030 whose flagship projects include resort cities in Kilifi, Lamu, Diani, Isiolo and Turkana.

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