General News

Karen Water Shopping Center Not For Sale

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Karenfront Water Shopping Center is not for sale as previously reported in the media, general manager Dr David Muguku has said.

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In a statement, Dr Muguku said the store remains a “long-term investment” for owners.

“We would like to remove this information and inform the public, our tenants and customers to know that the information is false and does not represent the management position. The information should therefore be ignored and considered false,” said Dr Muguku.

“Karen Waterfront Shopping Center and its surrounding property remains a long-term investment. We would like to inform the public that any information about the sale of the property, if any, or anything else will be provided by management through official channels.”

Read: Shoprite Charges Over Ksh520 Million In Expected Months Of Loss After Closing Karen Mall Water Station

According to reports first published by Daily Business, The Waterfront Mall in Karen, located on a 50-acre plot of land, was sold at a asking price of Ksh20 billion.

The waterfront, which has 215,000 square feet of rented space, suffered a blow in 2020 when the Shoprite anchor left on July 31, 2020.

The family owns the former Standard Chartered Bank Kenya office along Moi Avenue and Nairobi.

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