Waterfront MD denies mall is up for sale

The Waterfront Mall in Karen. PHOTO | DIANA NGILA | NMG

The management of The Waterfront Mall in Karen has denied that the property and the 50 acres of land it is sitting on are up for sale.

The move comes after news reports and circulation of a sales pitch inviting prospective buyers to acquire the property whose asking price was set at Sh20 billion.

“The Waterfront Karen Shopping Mall and its surrounding property remain to be a long-term investment whose main objective is to provide a conducive, safe, environmentally-friendly and world-class shopping and lifestyle experience for the public,” a statement issued by David Muguku, the managing director of The Waterfront, said.

“We would like to further inform the public that any information pertaining to the sale, if any, or any other matter would be issued by the management through official channels.”

Mr Muguku had declined to respond to queries on the matter before the publication of the news report by Business Daily.

Multiple sources told Business Daily that the family of the late Nelson Muguku has considered selling the property, hence the creation of the document profiling the mall and which was leaked.