The Sh4.5 billion project, which was launched in 2010, is set to be completed in the next two years, but the developer said completion could be done earlier depending on the rate of take-up of the units by buyers.
Mr Ashton Towler, co-founder Hello Properties said, “ Mandharini is a Swahili word that describes a place with a beautiful view. Our development will have 150 luxury homes with spectacular views of the David Jones Golf Course and Kilifi Creek, which is a sheltered Indian Ocean lagoon.”
Mandharini is tipped to be one of the foremost holidays homes in Kilifi, with 22 units already complete.
Each unit on the 150-acre development will be en-suite with ample yard space and private swimming pool.
The houses are priced between Sh22.5 million and Sh62.5 million, with financing facilities provided by I&M Bank that fully financed phase one of the project.
The development is owned and funded by both private and institutional investors, including the Kenya Tourist Development Corporation, Safaricom Staff Pension Fund – which owns 28pc equity, and I&M Bank.