Why Sameer is yet to complete Sh919m land sale four years on

Author: George NgigiPublished on: June 5, 2026Country: Kenya

Business & Economy

Why Sameer is yet to complete Sh919m land sale four years on

Real estate firm Sameer Africa has attributed the delayed completion of a 3.75-acre land sale valued at Sh919 million to financial challenges facing the buyer. First earmarked for sale in 2022, the transaction now has a new deadline at the end of June 2026, the fourth such deadline. Sameer has received cumulative deposits of Sh461 million and is charging interest on the outstanding balance. The dollar-denominated deal has lost value due to the strengthening of the shilling.

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