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The Waterfront Karen Shopping Mall Is Not On Sale – Owners

The Waterfront
The Waterfront Mall. PHOTO/ COURTESY]

The Waterfront Karen Shopping Mall is not on sale as earlier reported in sections of the media, the managing director Dr David Muguku has said.

In a statement, Dr Muguku said that the mall remains “a long-term investment” for the proprietors.

“We would like to dispel this information and let the public, our tenants and clients know that the information is false and does not represent the position of the management. The Information should therefore be disregarded and treated as false,” said Dr Muguku

“The Waterfront Karen Shopping Mall and its surrounding property remains to be a long-term investment… We would like to further inform the public that any information pertaining to the sale of the property, if any, or any other matter would be issued by the management through official channels.”

Read: Shoprite Sued Over Ksh520 Million In Anticipated Loss Months After Closing Waterfront Karen Mall Outlet

According to reports first published by Business Daily, The Waterfront Mall in Karen, which sits on a 50-acre parcel of land, was been put up for sale with the asking price set at Ksh20 billion.

The Waterfront, which has 215,000 square feet of lettable space, was dealt a blow in 2020 when the anchor tenant Shoprite left on July 31, 2020.

The family owns the former office of Standard Chartered Bank Kenya along Nairobi’s Moi Avenue and Cross Roads Shopping Centre.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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