Distressed developer to sell Sh20bn prime Kenya assets

Author: Victor JumaPublished on: November 4, 2026Country: Kenya

Business & Economy

Distressed developer to sell Sh20bn prime Kenya assets

Mauritius-based property developer Grit Real Estate Income Group, strained by debt, plans to sell all its investments. Its Kenyan assets are valued at Sh20 billion and include Buffalo Mall in Naivasha and Rosslyn Grove estate in Nairobi, which houses US Embassy staff. Grit says its financing costs have risen as the value of its real estate assets has fallen significantly. Its lenders include Standard Bank Group, Absa Bank Kenya and NCBA Group.

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