In February 2026, a Nairobi developer unveiled a glossy pitch to a circle of high-net-worth Kenyans. Luxury off-plan apartments in Westlands and Riverside were marketed as dollar-denominated rental investments. The promise was irresistible: furnished units, serviced living, and guaranteed corporate and diplomatic demand.
One CEO reserved two units in the Westlands property, paying a deposit of $20,000 (Sh2.6 million) when the others committed $3,000 (Sh389,000). Six months after the groundbreaking, the construction of the apartments stalled. The developer had also repeatedly changed staff assigned to the project, leaving investors uncertain about who was in charge and whom they should engage with. The project was later handed over to another developer.
