Two Rivers CEO Presentation
East Africa Property Investment Summit
April 2015
Two Rivers– A Prime Location
Easy Access
•  Easy access from Limuru Road and the
Northern By Pass with easy access to:
v JKIA Airport
v Nairobi CBD
v Muthaiga, Runda, Westlands, US
embassy, UN offices, Canadian
embassy, international schools.
2
Introduction to Two Rivers
§ 
Two Rivers Development (www.tworivers.co.ke) is a new master planned urban node currently under
construction that is set to become Kenya’s financial hub, business and residential location of choice on
prime 100 acres located along Limuru Road within the Diplomatic Blue Zone area of Gigiri/ Runda, in
Nairobi, Kenya.
§ 
Two Rivers Development will integrate Retail, Entertainment and Lifestyle facilities, modern office parks,
residential apartments, hotels, civic, recreational and public amenities.
§ 
These facilities will be supported by high quality centrally managed state of the art infrastructure with
about 30% allocated to preservation of green areas.
§ 
The site will be developed in an environmentally sustainable manner that will seek to protect and preserve
the flora and fauna.
§ 
The Two Rivers Development will be constructed in phases and when complete will have an estimated build
up area of 851,000 m2.
3
Our Journey – Unlocking Land Value to Date
Land Acquisition
Sep 2010
• 
Research banked land
identification & purchase
• 
Negotiation & closure
Jan 2011
• 
Feb finalized land
acquisition
Dec 2011
§ 
Change of user approval
§ 
Master plan approval
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Feasibility & Approvals
Mar 2012
• 
WRMA reparian reserve
approval
May 2012
• 
Nema EIA Approval
July 2012
• 
Change of user approval
Commissioner of lands
Jan 2012 – June 2012
• 
Completed comprehensive
market & feasibility studies
• 
Commenced discussions with
potential off takers, equity &
debt investors
• 
Shovel ready project
Construction Commencement
May 2013 – Aug 2013
• 
New Land Title
• 
KURA & KENHA Approvals
• 
Building Plan Approvals
• 
Mall NEMA EIA Approvals
• 
Financial close
• 
Tender issue and
• 
contractor appointment
Aug 2013
• 
Infrastructure ground breaking
Feb 2014
• 
Mall ground breaking
Aug 2014
• 
Signing of ICDC equity investment
• 
Signing of Carrefour as anchor tenant
Dec 2014
Signing of AVIC equity investment
Two Rivers Delivery Partner- Athena Properties Limited
§  Athena Properties Limited
• 
A t h e n a P r o p e r t i e s (
www.athena-properties.com), is a
subsidiary of Centum Investments with a
mandate to offer development and
project management services to Centum
and other third party developers.
•  VISION
To be Sub Saharan Africa’s lifestyle developer of choice
•  MISSION
• 
Established in January 2013 and has
team of 27 real estate experts who
include architects and engineers
To develop mixed use nodes and lifestyle retail
offerings to a world class standard of excellence
• 
Athena offers highly regarded complete
suite of end to end solutions in large
scale property development ranging
from master planning, urban planning,
project management, construction
management, development
management and project finance.
•  OUR IDENTITY
We deliver value for Centum and investors
We complete projects on time and to order
We are commercially pragmatic
We act with cast iron integrity
We are innovators in our field
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Phase 1 Development Components Under construction
• 
Two Rivers project is a market driven project that is being implemented in phases.
• 
Currently, construction of the first phase is underway and includes
Phase 1
Component
Details
Phase 1 trunk
infrastructure
• 
• 
• 
• 
• 
Retail,
Commercial,
Entertainment&
Lifestyle Centre
6
• 
• 
• 
• 
• 
Limuru road interchange,
Northern By pass interchange
Trunk infrastructure includes;
roads, water, power, ICT, Sewer,
land scaping.
Gate house
Public parks
3 level of river front outdoor
entertainment & dining area.
2 basement parking levels
2 shopping levels
Roof top parking
2 office towers on eight levels
Status
Under
construction
Under
construction
Ground
Breaking Date
Construction
Completion Date
August 2013
September 2015
March 2014
October 2015
Phase 1 Development Components scheduled for construction
• 
Two Rivers project is a market driven project that is being implemented in phases.
• 
Currently construction of the first phase is underway and includes
Phase 1
Component
Details
Status
Ground
Breaking Date
Construction
Completion Date
3 star city lodge
hotel
• 
170 key hotel
Design stage
September 2015
January 2017
Luxury
Apartments
• 
105 apartments for sale
Design stage
August 2015
August 2017
Parking Silo
• 
2,000 parking bays
Building
plans
approved
October 2016
October 2017
5 star hotel
• 
200 plus key hotel
In discussion
with 5 star
hotel chains
January 2016
January 2018
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Phase 1 Components – Retail, Commercial, Entertainment &
Lifestyle Centre
Anchor promoter and investor of the largest Retail,
commercial, entertainment & lifestyle centre that
integrates:
•  Retail on two levels
•  Office above the retail levels
• 
Key Facts
•  113,000 sq.m total Gross Built Up Area excluding
basements
•  62,000 sq.m total retail gross lettable area
•  21,000 total office gross lettable area.
•  Over 200 shops
•  2,049 parking bays
Scale
•  Equivalent to 11 soccer fields
Dominance:
•  Design, Offer, Size, international brands and tenants
•  The largest in sub-Saharan Africa outside of South Africa
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Retail, Commercial, Entertainment & Lifestyle Centre- Support
infrastructure
Parking
•  Building plan approved for construction of 2,000 parking
bays silo next to the mall
This provide over 50% of all parking bays currently
managed by Nairobi County government in Westlands,
Nairobi CBD & Upperhill combined
• 
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Retail, Commercial, Entertainment & Lifestyle Centre – Key
Differentiating Factors
Differentiating Factor
International Brands & tenants
Retail Offer
• 
45% of GLA will be international brands & tenants
International brands include Carrefour, hypermarket, Virgin active LC
Waikiki, Swarovski, Hugo Boss, Funscapes, Allied Trading East Africa,
Villeroy and Boch
Increased customer & shopping experience
Regional Mall
• 
• 
Over 200 shops
A mix of international and incorporates a major local brands
Entertainment
• 
Funscapes developing the largest water features which includes
•  Skating rink
•  Children play area
•  Dancing fountains
•  Amphitheatre
•  Laser shows
Food & Beverage
• 
• 
22% of GLA allocated towards F&B
Categories include fast food, casual dining, formal dining, cafes &
pastries, pubs & lounges
Lifestyle
• 
• 
Key offer is Virgin Platinum health & fitness centre
Offer includes a 4 lane, 25m heated pool, luxurious change rooms with
steam rooms, children's care facility with activity zones, state of the art
cardio equipment, a functional training area, a group exercise studio, a
spinning studio, free weights area
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• 
• 
Phase 1 Components – Hotel & Apartments
2. Hotel-City Lodge
§ 
§ 
§ 
§ 
Signed with city lodge
To construct a 160 plus key 3 star hotel
Construction scheduled to commence in
September 2015
Hotel scheduled to open in Dec 2016
3. Two River Luxury Apartments
§ 
§ 
§ 
§ 
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Construction of 108 luxury apartments
Scheduled to break ground in August 2015
Pre-sales scheduled to be launched in June
2015
Include 2 bd, 3 bd, 5 bd penthouses
Access Road – Limuru Road ( National Highway) Interchange
Limuru Road Access
•  Invested USD 5Million to construct:
•  Dual a carriage over pass and
underpass on Limuru road
•  Round about on the Northern by
pass
•  Approval granted by Kenya National
Highways Authority & Kenya Urban
Roads Authority.
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Phase 1 Components-Infrastructure
The design is based on functionality, viability and sustainability and is conceptualized as a city within a
city
1.  Power
•  Invested USD 11M for construction a 46 Mva modular substation dedicated for the Two Rivers
Development
•  Secured a dedicated 66 KVA line to supply power to the sub station limiting the number of brown outs
for the development.
2. Portable Water Supply
•  Installing state of the art water treatment plant to supply 2,000,000 liters of portable water per
day
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Phase 1 Components-Infrastructure
The design is based on functionality, viability and sustainability and is conceptualized as a city within a
city
3. Water Treatment•  Sewage treatment plants will recycle black and grey water to provide water for irrigation, fire
fighting, washing and dust control.
•  This treatment plants will produce high quality recycled water that exceeds WHO standards
4. Security & emergency services.
•  Completed development of security master plan for the entire development.
•  Investing USD 10 M on state of the art master plan security installations.
•  The security master plan covers high tech CCTV , monitoring , scanning devices, central command &
response centre that will cover:
»  The gate house, perimeter fence, all facilities, common areas and parks
»  Visitor management systems, access control access gateways
»  Other security measures include; a police post, fire response units and ambulances
•  ICT reticulation and infrastructure will also be developed and terminated at each plot boundary.
•  A gatehouse, a police post, and a perimeter fence will be developed. 24-hour fire response units and
ambulance units will be provided.
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Phase 1 Components-Infrastructure
The design is based on functionality, viability and sustainability and is conceptualized as a city within a
city
5. Smart City
•  Investing USD 2.5M on a high tech smart city solutions based on smart governance, smart environment,
smart mobility, smart billing, smart economy and smart living.
•  Provide ICT infrastructure that will integrate, city management services, utilities, retail, residential,
security services, transport, health, education, sports and entertainment.
6. Building management
•  The development will install building management systems that will monitor;
–  metering and reporting of actual energy usage
–  Safety and Security monitoring
–  Precision metering electronics
–  Utility monitoring & management
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Key Lessons Learnt From Two Rivers Development Lifecycle
Key Lesson
1. Planning, feasibility & market
Research
Notes
• 
• 
Two Rivers responds to a compelling real estate market need for
high quality developments
Research undertaken by market experts that include IPSOS
Synovate, Fernridge, Knight frank.
2. Identification of anchor
development & tenants
• 
Early identification of the anchor development- a mixed used site
with more than one possible anchor in phase 1 is ideal. 3. Recognition of the key
differentiator
• 
Early identification of the differentiator and consistent focus to
further differentiate the destination
4. Development timing of support
infrastructure
• 
Infrastructure should come in early and should be provided by the
master developer as it supports in-fill developments. 5. Commercial and legal structuring
• 
Legal structuring of the development to allow for different
aspects of the project to proceed independently
6. Key Stake holder management
• 
Effective stakeholder management is key with all regulators to
fast track the regulatory approval process 7. Access to key roads
• 
Early identification of access points to the site and development
of multiple access points. 16
Key Lessons Learnt From Two Rivers Development Lifecycle
Key Lesson
Notes
8. Project team capacity
• 
Work with a design and construction team with capacity. 9. Funding
• 
Need to have adequate equity capital to allow the project
progress to a point where it can attract debt capital
10. Firming up on design
• 
Lock in designs prior to commencing construction
11. Location
• 
Identifying a location with an underlying value which includes
proximity to a catchment area, access and views
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