Express Kenya in 3-acre prime land sale to fund real estate plan

Express Kenya is set to sell a fifth of its land holding to raise an estimated Sh200 million needed to partly finance its venture into real estate development.

The company is transforming into a property developer to cushion itself from a sharp drop in earnings from the logistics business which took a nose-dive following the loss of its single-largest customer, East African Breweries, in 2011.