RIVERSIDE
Allure, Lifestyle & Housing Market
Riverside is a leafy suburb that is connected to Westlands and Lavington areas by Riverside Drive which is a long stretch of 4.7kms from Chiromo Lane, off Waiyaki
Way to Mzima Spring off James Gichuru Road. The real estate market in Riverside has experienced significant growth over the past few years, sparked by the
presence of top corporations such as Sameer Investments, East Africa Reinsurance Company, Barista Coffee Roasters etc. The area is also home to international
offices, key among them German & Ugandan Embassy and the Chile Consulate.
Riverside is well known for its high-end apartments built to very high standards with impeccable finishes such as Trident Grand Riverside, The Bridge, Pearl of
Riverside, mixed-use developments like the upcoming Riverside Square that’s spread over 2.5 acres and townhouses in gated estates like Olive Point Villas- to
name a few. The allure of Riverside is perhaps the lush greenery lining the quiet clean streets, luxury apartments boasting modern amenities, proximity to CBD and
the aforementioned neighboring areas filled with top international schools, restaurants specializing in exquisite cuisines, vibrant nightlife, shopping complexes and
banks which makes it a highly convenient location. Aside from the modern amenities, these buildings have tight security, controlled access to the compounds,
excellent management, the compounds are clean, facilities up and running in superb condition, repair workers available at a moment’s notice, life inside these
buildings is one full of comfort. These are some of the factors that make Riverside an ideal dwelling place.
An average price for a high-end, newly built three bedroom apartment in Riverside costs KES 30-55M with an expected rental yield of KES 200,000/= to KES
350,000/= for a furnished rental (which are more popular for the lock-up and go tenants) down to KES 150,000/= to KES 250,000/= for the unfurnished option
pegged on the level of finish and common amenities offered in the compound. Using the above estimates, furnished rentals can yield an ROI of 9% on the higher
side and 6% on the lower side.