The upcoming resort that comprises a mix of luxury apartments and beach homes is currently well underway and scheduled for completion by end of December.
The resort 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 sold out 100 units of the 210 units of the luxury beach homes, highlighting the rising demand for luxury property at the Kenyan coast.
The sold out units include 11 four-bedroomed all-ensuite private villas dubbed Diamond Residences – each going for Sh80 million; some 20 three-bedroomed town-houses 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. By December all units will be ready for owners to move in,” says Liu Tiancai, the firm’s general manager.
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 area including Kilifi Creek Villas, Kilifi Bay Beach Resort, Bofa Beach Resort and Baobab Sea Lodge.
Wealthy property developers are increasingly setting up multi-billion-shilling developments in the region despite a slowdown in the local tourism industry following recent terrorist attacks in various parts of the country.