MKU ventures into real estate with upmarket residence in Mombasa

Kenya’s largest private university by student population, MKU, has ventured into the real estate and hospitality market with the opening of a multimillion-shilling mixed-use facility in the coastal town of Mombasa. Mount Kenya University (MKU), which is associated with businessman Simon Gicharu, said Nyali Golf View Residence is part of the effort to diversify its income streams and ultimately establish an endowment fund that will help finance its activities in the long term. The 12-floor building, which is located in upmarket Nyali estate, has premium class serviced apartments, a fitness center, a restaurant, swimming pool, and a penthouse. Mr. Gicharu said the investment, which was initially meant to host MKU’s Mombasa campus, offers residence and recreation services to the growing demand for premium tourism and hospitality services. “We wanted to invest in something that Mombasa will be proud of and also introduce a new product mix for our tourism industry, which has greatly benefited from recent security improvement in the coastal city,” he said.