The county government of Nairobi is planning to sell its prime real estate property in Nairobi.
City Hall is trapped in a Ksh70 Billion debt that they are unable to service currently and are looking to swap houses owned by the county government in Nairobi.
They include those in Bahati, Ziwani, Landhies Road, Joseph Kang’ethe, Harambee, Mbotela, New Pumwani, Bondeni, Kaloleni, Uhuru and Embakasi estates.
The estates to be affected have houses that can be redeveloped given their current dilapidated state.
Others are in Maringo, Jerusalem, Jericho, Lumumba, Ofafa and Mbotela, Pangani, Jevanjee, Bachelors Quarters, Jamhuri, Kabete, Juja Road, Gorofani, Kariobangi South, Huruma and Outering.
Most of these houses are currently occupied by county employees.
The house swap will be the second of such transfers after the County council transferred Mariakani Estate to Laptrust in 2013.
The county inherited a Ksh5 Billion bank loan from the defunct City Council of Nairobi. There were also unpaid workers arrears to the tune of Ksh30.1 Billion and Ksh10.6 Billion to unpaid suppliers, contractors, and lawyers.
Kenya Power is owed to the tune of Ksh500 Million while deceased county staff is owed close to Ksh100 Million.
As of December 31, 2018, the debt stood at Ksh70.2 Billion.
