A feasibility study failed to support the viability of a shopping mall and apartments at the site.
Le’mac is currently the tallest residential building in Kenya.
Developers are now shifting their focus to the low cost housing market segment.
The project will involve construction of 560 apartments on 14 blocks at Clay Works.
The New Kisii City seeks to address the region's housing shortage.
Investors are rolling out dozens of projects targeting middle income and lower income earners.
Companies heavily invest in prefab houses for low and middle-income Kenyans.
Investors are trying to recoup some returns to meet their financial obligations.
The resort comprises apartments and beach homes priced at between Sh9.95 million and Sh72 million.
Greenpark Estate 5 will have a total of 148 units, 24 of which have already been booked.
Talks are underway for China to fund a new highway and rail extension.
The Chinese-funded Orpower 22 power plant will take 17 months to complete.
Bedsitters will rent for Sh3,200 per month on a 30-year rent-to-own plan.