COVER STORY
THE REAL ESTATE
INDUSTRY IN KENYA:
IS IT A GAME OF
CARDS?
By Evans Majeni
‘‘Operating in a distorted
economy is like chasing
a rabbit blindfolded.
The faster you run, the
riskier it becomes. That
is what befell some of
our budding real estate
developers. Egged on by
false fundamentals, they
could build and sell off
plan. The more they sold,
the merrier it got and the
more they built choking
in huge bank loans.’’