Muguku family invests Sh3bn in Karen housing complex

The family of the late Nelson Muguku, the poultry farmer who made billions as a top shareholder at Equity Bank, is deepening its presence in the lucrative real estate market with the planned construction of a multi-billion-shilling complex in Nairobi’s upmarket Karen estate.

Phase one of the project dubbed Karen Waterfront will cost Sh2.6 billion and people familiar with the plan said construction of the last two could raise the cost to Sh10 billion.