Inside Eastleigh’s Billion-Shilling Property Market: Owners Behind Major Shopping Malls

Eastleigh has grown into one of Nairobi’s busiest commercial centres, hosting more than 20 shopping malls and commercial plazas that attract traders and shoppers from across Kenya and beyond.

The district’s rapid expansion has involved billions of shillings in property investments. However, identifying the individuals and companies behind some of its largest developments can be challenging because ownership is sometimes held through private firms.

One of the area’s most prominent developments is BBS Mall, also known as Business Bay Square. The complex reportedly covers approximately 130,000 square metres, cost about KSh25 billion to develop and opened in 2023. Reports have associated the project with Ten Commodities Wholesalers Ltd, although its ultimate beneficial ownership has not been independently established.

Comesa Mall is another major commercial centre, housing approximately 300 stores. It has been linked to businessman Ibrahim Noor Hillowly through Darasa Investments Ltd and has featured in a dispute involving the Kenya Revenue Authority.

Other notable properties include Yare Plaza, Yare Towers and Yare Business Park, which have been associated with businessman Ahmed Abdullahi Yare.

Business Daily has also reported connections involving Eastleigh Mall, Ambassador Mohamed Mohamud and business partners. The property featured in proceedings involving the Assets Recovery Agency and KRA over allegations of tax evasion. Such allegations should not be treated as proof of wrongdoing.

Meanwhile, court records have identified Abdi Mohamed Ali in connection with Mega Shopping Mall in proceedings involving approximately KSh296 million.

The district also features developments such as Hong Kong Shopping Mall, Bangkok Shopping Mall, Madina Mall and Amal Plaza, reflecting the variety of investment arrangements behind Eastleigh’s commercial growth.

As the property market expands, verifying ownership remains important for investors, tenants, lenders and buyers.

Land registry searches, company records and checks for pending court disputes can help establish who legally owns a property and whether it is suitable for a proposed transaction.

Eastleigh’s commercial success highlights the importance of transparency and thorough due diligence in Kenya’s property sector.

Source; https://www.facebook.com/share/p/1ZmYhN4uCJ/