The family of the late minister Nicholas Biwott has let go of the iconic Yaya centre in a deal estimated to be worth billions.
Biwott served as a civil servant, Member of Parliament and government minister, during during the presidency of Daniel arap Moi.
He was thought to be so powerful that he was nicknamed “Total Man”
Away from politics Biwott was a successful entrepreneur rising to become one of the richest people in the country.
Among the properties in his vast portfolio is the Yaya center, a Multi-Billion shopping mall located in Nairobi’s Kilimani area.
The mall which was completed in 1995 houses several businesses, hotels and restaurants, offices, bank’s, fitness and wellness centers, health facilities and other several shops.
Biwott also owned other several businesses including Kenol Kobil which is s petroleum company, Barsirim Investment Limited, Kipsinende Farm, Rono Limited, National Milling Corporation and the HZ Group of Companies.
However after the late Minister’s death in 2017, his family sold Kenol Kobil to Rubis Energy from France for Sh8.4 billion.
We understand that they have now also sold Yaya Centre to the Kantaria family for an undisclosed amount.
The Kantaria’s are among the biggest players in the real estate market with heavy investments in shopping malls, apartments, hotels and luxury houses.
Some of their properties include shareholding in Radisson Blu, Capital Centre, West End hotel and Leisure Lodge beach hotel in Diani.
