Real estate firm Sameer Africa has attributed the delayed completion of the sale of a 3.75-acre parcel of land, first earmarked for disposal four years ago, to financial challenges facing the buyer.
The Nairobi Securities Exchange-listed firm put the land, valued at Sh919 million, up for sale in 2022 after disclosing that it had secured a buyer. However, the company has continued to classify the transaction as ongoing in subsequent annual reports, setting multiple completion timelines that have lapsed without the deal being finalised.
