Kenya: Shelter Afrique Development Bank to Auction Residential Properties Thursday

17 September 2024
Capital FM (Nairobi)

Nairobi — Pan-African financier of housing, urban, and related infrastructures Shelter Afrique Development Bank (ShafDB) will tomorrow hold a private auction event for the sale of prime residential properties in five counties.

The exclusive auction, which will take place tomorrow, offers an opportunity for investors and homebuyers to acquire high-quality real estate assets.

The properties under auction include Pine City in Athi River, Machakos County; Serene Vally in Rironi, Kiambu County; Translake along Kibos Road, Kisumu County; KMA apartments in Mtwapa, Kilifi County; and Eden apartments in Shanzu, Mombasa County.

"The properties available for auction include a diverse range of residential units, from luxury apartments to spacious family homes, carefully curated to meet the needs of discerning buyers looking for investment opportunities or a new home in these strategically significant areas," the organization said in a notice.

"Our upcoming private auction shows our commitment to providing innovative solutions to the real estate market, and this auction is part of our strategy to support housing development across the continent."

The auction will take place at Shelter Afrique Centre, 1st Floor, along Longonot Road, Upper Hill, Nairobi, starting at 10.00am.

For smooth and transparent auction processes, ShafDB has partnered with a real estate professional, Joyland Auctioneers, to provide potential buyers with comprehensive property information.

Investors have also been encouraged to register for the auction to receive further information and secure their place at the event.

Bidding procedures

"The auction will be conducted through a transparent and competitive bidding process, with properties awarded to the highest bidder. In the event of identical bids, precedence will be given to the earliest bid as recorded in the registry," it added.

"Prospective bidders are required to submit a refundable deposit of Kshs. 100,000 to secure a bidding number."

"A comprehensive list of the available properties has been provided for reference. Interested parties are encouraged to review this information and prepare accordingly."

Read the original article on Capital FM.

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