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Cargen eyes real estate development for its prime land

Car and General managing director Vijay Gidoomal. The company’s net profit declined to Sh278 million in the year to September 2014 — a 12 per cent drop from Sh315 million reported in a similar period last year. FILE PHOTO

NSE-listed machine and equipment vendor Car and General (Cargen) plans to move its dealership from the current premises and redevelop its prime land holdings in Nairobi and other major towns, against a rating agency’s advice.

Some of the land owned by the company includes plots on Lusaka Road, Uhuru Highway, in Mombasa, Uganda and Tanzania.

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