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Kamlesh Pattni Splashes Billions on Nairobi Real Estate

Mr Pattni has been investing heavily in the city’s land and property sector since January.

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Businessman Kamlesh Pattni.
Businessman Kamlesh Pattni. PHOTO | FILE

Businessman Kamlesh Pattni, who was accused of masterminding the Goldenberg scandal, has been pouring money into the Nairobi property market since the beginning of the year.

According to the Indian Ocean Newsletter, Mr Pattni has been investing heavily in the city’s land and property sector, mainly through his investment company Westmont Holdings.

“His attention is concentrated on the Westlands constituency, where he ran unsuccessfully for a parliamentary seat in the 2013 election,” the ION reported.

Mr Pattni has acquired plots of land in Parklands, Muthangari, Kileleshwa, and Loresho neighbourhoods, where he is planning to build luxury apartments and office blocks to house the headquarters of major corporations.

In 2010, Mr Pattni announced plans to build a Sh4 billion hotel at Nairobi’s Museum Hill but the project failed to materialise due to land lease agreement issues.

RELATED: Nairobi’s Most Expensive Home Up for Sale

Property market watchers believe that Mr Pattni’s latest buying spree is informed by the rising number of deep-pocketed foreigners moving to Kenya in pursuit of oil money and a booming regional economy.

Last week, a country house in Karen, an affluent suburb of Nairobi, went on sale for Sh565 million – earning the title of Kenya’s most expensive home.

If the sale of the 6-bedroom Hogmead residence goes through, it will reaffirm Nairobi’s position as a prime real estate destination in the region.

Hellen Ndaiga, a graduate of Daystar University with a degree in Communications, is an accomplished reporter experienced in covering construction news. She offers a unique perspective to our coverage.