The State-owned Kenya National Assurance Company (KNAC) Limited on Tuesday announced that it was placing 1,377 plots of land in Bamburi (Kwa Bullo) on auction
In a notice carried in the local dailies, the company announced that it had partnered with Kencent Holdings Limited to oversee the exercise.
KNAC, as a result, invited competitive bids for the plots noting that squatters already occupying the parcels will be allowed to acquire the properties as well.
"Kenya National Assurance Company (2001) Limited and Kencent Holdings Limited are offering for sale 1377 plots derived from L.R Number MN/397/1 Bamburi (Kwa Bulo) through competitive bidding," read the notice in part.
"This offer is open to everyone including those to whom the offer had been made earlier but for whatever reason failed to take up the offer."
Earlier, KNAC had unveiled plans to offload a total of 1,413 plots where 10,000 squatters were living.
Two months ago, the company started issuing notices to residents asking them to place bids on the parcels of land that were going on sale.
At the time, the squatters argued that they were waiting a word from President William Ruto who had promised to allow them to purchase the land before it went on sale for the rest of the country.
Kwa Bulo Land Committee chairman, Omar Tsori, at the time, also noted that the Head of State had promised to offer Ksh1 billion to facilitate the purchase of the land located in Nyali or their settlement.
How to Bid
Interested applicants were directed to obtain bid documents from the company office at Social Security House in Mombasa which should describe the plot as well as the reserve price. Each document is sold at Ksh1,000.
The Bid for each plot must be made in a separate bid form clearly indicating the plot number, the name of the bidder, and the amount offered. Incomplete bid forms will be rejected.
Completed bid forms should be enclosed in a sealed envelope addressed to the Principal Officer, Kenya National Assurance Company (2001) Limited, and shall be deposited in the Tender Box at the KNAC (2001) Limited Offices. The deadline was set for June 18, 2024.
The company further revealed that the opening of the bids will be held at the building on June 18.
