One of the most popular malls in Nairobi ‘The Waterfront Karen’ is up for sale. Who Owns Kenya has established that the mall located in the lavish Karen area is going for a whooping Sh20 Billion.
Currently, the mall management is privately targeting potential investors who may be interested in acquiring the mall. By press time, the sale was yet to be made public.
Located 15 kilometers from Nairobi’s Central Business District, The Waterfront mall boasts of being a commercial, entertainment, and recreational hub with amazing scenery as it overlooks the foot of the Ngong’ Hills.
One of the unique features that distinguishes it from other malls in the country is its 3.5-acre man-made lake that has made it a favourite for many Nairobians especially those with kids.
Some of the fun activities at the mall include; zorbing, wakeboarding, paddleboarding, paintballing, horse-riding, among others. The mall’s grounds are also conducive for family fun days, exhibitions, and concerts.
The Waterfront Karen is owned by the Muguku family which is one of the richest in Kenya. The family built its massive empire through the Muguku Poultry Farm which started with two hens and one cock in 1956.
It is reported that the late Nelson Muguku supplied Chicken to State House during the reign of late Kenyan President Mzee Jomo Kenyatta.
The late President is said to have fallen in love with Muguku’s eggs making him the sole supplier of the product at the house on the hill.
Sometime last year, the Muguku poultry farm had grown to a capacity of hatching over 500,000 chicks a day. Making it one of the leading poultry farms in the country.
Unfortunately, Nelson Moguku died in 2010 at the age of 78. Reports indicate that he succumbed to diabetes.
By the time of his death, he was the largest individual shareholder at Equity Bank with a stale estimated to be worth Sh3 Billion.
