The housing multi-billion-shilling real estate transaction in Kenya sponsored by Chinese and Qataris has hit a roadblock owing to the fact that the Kenyan government lost the legal battle to acquire 4,272 acres from East Africa Portland Cement Company (EAPCC) for free. The Kenyan government’s loss has effectively suspended plans to build affordable homes in the area.
Kenya’s administration disregarded regulations governing the compulsory acquisition, including consulting stakeholders like the National Social Security Fund (NSSF), French company Lafarge, and the Nairobi bourse-listed cement manufacturer, according to the Kenyan High Court. As a result, the court halted the takeover of the land in Athi River, estimated to be worth KSh6.4 billion ($47.8 million). This report is courtesy of The East African, a news publication focused on news across Africa, particularly East Africa.
